Idea Junkies Ltd
Company No. 13851834
Information for Filing with The Registrar
31 January 2024
Idea Junkies Ltd

Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 January 2024.
Principal activities
The principal activity of the company during the year under review was .
Directors
The Directors who served at any time during the year were as follows:
L.Richards
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
L.Richards
Director
31 January 2024
Idea Junkies Ltd

Balance Sheet Registrar
at31 January 2024
Company No.13851834Notes20242023
££
Fixed assets
Tangible assets4449899
449899
Current assets
Cash at bank and in hand5957,655
5957,655
Creditors: Amount falling due within one year
(129)
(3,780)
Net current assets4663,875
Total assets less current liabilities9154,774
Net assets9154,774
Capital and reserves
Called up share capital11
Profit and loss account-9144,773
Total equity9154,774
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 January 2024 and signed on its behalf by:
L.Richards
Director
31 January 2024
Idea Junkies Ltd

Notes to the Accounts Registrar
for the year ended 31 January 2024
1General information
Idea Junkies Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 13851834
Its registered office is:
7 Lansdowne Terrace
GOSFORTH
NEWCASTLE UPON TYNE
NE3 1HN
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
2Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3Employees
20242023
NumberNumber
The average monthly number of employees (including directors) during the year was:00
4Tangible fixed assets
Land and buildingsPlant and machineryMotor vehiclesFixtures, fittings and equipmentTotal
£££££
Cost or revaluation
At 1 February 2023---1,3491,349
At 31 January 2024---1,3491,349
Depreciation
At 1 February 2023---450450
Charge for the year---450450
At 31 January 2024---900900
Net book values
At 31 January 2024---449449
At 31 January 2023---899899
5Creditors:
amounts falling due within one year
20242023
££
Loans from directors1292,197
1293,780
6Share Capital
Share capital fully paid
7Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
8Dividends
20242023
££
Dividends for the period:
2,0002,000
Dividends by type:
Equity dividends2,0002,000
2,0002,000
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