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Registration number: 08072159

Ianvanpod Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Ianvanpod Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

Ianvanpod Ltd

Company Information

Directors

Mrs Tracey Karen Nixon

Mr Ian Leslie Nixon

Registered office

13 Colway Lane
Chudleigh
Devon
TQ13 0LA

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Ianvanpod Ltd

(Registration number: 08072159)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

4,300

Tangible assets

5

6,020

5,857

 

6,020

10,157

Current assets

 

Debtors

6

112

112

Cash at bank and in hand

 

54,227

1,550

 

54,339

1,662

Creditors: Amounts falling due within one year

7

(93,423)

(62,071)

Net current liabilities

 

(39,084)

(60,409)

Net liabilities

 

(33,064)

(50,252)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(33,066)

(50,254)

Shareholders' deficit

 

(33,064)

(50,252)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Mrs Tracey Karen Nixon
Director

 

Ianvanpod Ltd

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

2

(50,254)

(50,252)

Profit for the year

-

17,188

17,188

At 31 January 2024

2

(33,066)

(33,064)

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

2

(50,254)

(50,252)

At 31 January 2023

2

(50,254)

(50,252)

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
13 Colway Lane
Chudleigh
Devon
TQ13 0LA

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance basis

Office equipment

20% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 2).

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

21,500

21,500

At 31 January 2024

21,500

21,500

Amortisation

At 1 February 2023

17,200

17,200

Amortisation charge

4,300

4,300

At 31 January 2024

21,500

21,500

Carrying amount

At 31 January 2024

-

-

At 31 January 2023

4,300

4,300

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

13,473

13,473

Additions

1,667

1,667

At 31 January 2024

15,140

15,140

Depreciation

At 1 February 2023

7,616

7,616

Charge for the year

1,504

1,504

At 31 January 2024

9,120

9,120

Carrying amount

At 31 January 2024

6,020

6,020

At 31 January 2023

5,857

5,857

6

Debtors

Current

2024
£

2023
£

Other debtors

112

112

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,373

5,215

Trade creditors

 

30,363

8,862

Taxation and social security

 

12,692

25,379

Accruals and deferred income

 

5,175

2,000

Other creditors

 

43,820

20,615

 

93,423

62,071

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

1,373

5,215

10

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Other payments made to company by director
£

At 31 January 2024
£

Mrs Tracey Karen Nixon

Director loan

(19,212)

(52,630)

(71,842)

       
     

 

 

Ianvanpod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2023

At 1 June 2022
£

At 31 January 2023
£

Mrs Tracey Karen Nixon

Director loan

(19,212)

(19,212)

     
   

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

16,860

-

Contributions paid to money purchase schemes

1,017

-

17,877

-