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REGISTERED NUMBER: 11234566 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

IKOMA LIMITED

IKOMA LIMITED (REGISTERED NUMBER: 11234566)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IKOMA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Mc Bain
Mrs N Y Mcbain





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: 12 Cromwell Road
Southend
Essex
SS2 5NQ





REGISTERED NUMBER: 11234566 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

IKOMA LIMITED (REGISTERED NUMBER: 11234566)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,983 3,315
Investment property 5 360,000 360,000
362,983 363,315

CURRENT ASSETS
Debtors 6 1,866 493
Cash at bank 14,930 15,644
16,796 16,137
CREDITORS
Amounts falling due within one year 7 117,932 123,514
NET CURRENT LIABILITIES (101,136 ) (107,377 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,847

255,938

CREDITORS
Amounts falling due after more than one
year

8

256,363

256,326
NET ASSETS/(LIABILITIES) 5,484 (388 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 5,482 (390 )
SHAREHOLDERS' FUNDS 5,484 (388 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IKOMA LIMITED (REGISTERED NUMBER: 11234566)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





C Mc Bain - Director


IKOMA LIMITED (REGISTERED NUMBER: 11234566)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ikoma Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The company's investment property was revalued to open market value at the period end by the company's director using his best judgement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

IKOMA LIMITED (REGISTERED NUMBER: 11234566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 4,990 499 5,489
DEPRECIATION
At 1 April 2023 1,675 499 2,174
Charge for year 332 - 332
At 31 March 2024 2,007 499 2,506
NET BOOK VALUE
At 31 March 2024 2,983 - 2,983
At 31 March 2023 3,315 - 3,315

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 360,000
NET BOOK VALUE
At 31 March 2024 360,000
At 31 March 2023 360,000

The company's investment property was revalued to open market value at the period end by the company's directors using their best judgement.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,745 400
Prepayments 121 93
1,866 493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax 1,455 914
Other creditors 1,845 2,280
Directors' current accounts 114,632 120,320
117,932 123,514

IKOMA LIMITED (REGISTERED NUMBER: 11234566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans more 5 yrs non-inst 256,363 256,326

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 256,363 256,326

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 256,363 256,326

The debt is secured by a fixed legal charge on the company investment properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2