IKP Financial Consultancy Limited 09479880 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of Financial Consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 09479880 2023-04-01 2024-03-31 09479880 2024-03-31 09479880 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 09479880 core:RetainedEarningsAccumulatedLosses 2024-03-31 09479880 core:ShareCapital 2024-03-31 09479880 core:CurrentFinancialInstruments 2024-03-31 09479880 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09479880 core:FurnitureFittingsToolsEquipment 2024-03-31 09479880 bus:SmallEntities 2023-04-01 2024-03-31 09479880 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09479880 bus:FilletedAccounts 2023-04-01 2024-03-31 09479880 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09479880 bus:RegisteredOffice 2023-04-01 2024-03-31 09479880 bus:Director1 2023-04-01 2024-03-31 09479880 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 09479880 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09479880 core:FurnitureFittings 2023-04-01 2024-03-31 09479880 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09479880 countries:England 2023-04-01 2024-03-31 09479880 2023-03-31 09479880 core:FurnitureFittingsToolsEquipment 2023-03-31 09479880 2022-04-01 2023-03-31 09479880 2023-03-31 09479880 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 09479880 core:RetainedEarningsAccumulatedLosses 2023-03-31 09479880 core:ShareCapital 2023-03-31 09479880 core:CurrentFinancialInstruments 2023-03-31 09479880 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09479880 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09479880

IKP Financial Consultancy Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

IKP Financial Consultancy Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

IKP Financial Consultancy Limited

Company Information

Director

Mr Iwan Kenneth Probert

Registered office

Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

Accountants

Rawcliffe & Co Limited
Chartered Accountants
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

 

IKP Financial Consultancy Limited

(Registration number: 09479880)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,095

1,330

Current assets

 

Debtors

6,263

4,990

Cash at bank and in hand

 

4,346

21,226

 

10,609

26,216

Creditors: Amounts falling due within one year

(2,878)

(5,325)

Net current assets

 

7,731

20,891

Total assets less current liabilities

 

8,826

22,221

Provisions for liabilities

(208)

(253)

Net assets

 

8,618

21,968

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

8,518

21,868

Shareholders' funds

 

8,618

21,968

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

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 September 2024
 

 

IKP Financial Consultancy Limited

(Registration number: 09479880)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mr Iwan Kenneth Probert
Director

 

IKP Financial Consultancy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP
United Kingdom

The principal place of business is:
51 Oxford Road
Lytham St Annes
Lancashire
FY8 2DZ
United Kingdom

These financial statements were authorised for issue by the director on 6 September 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 abridged 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 abridged 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

IKP Financial Consultancy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

Reducing balance method at 15%

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

IKP Financial Consultancy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 the director) during the year, was 1 (2023 - 1).

 

IKP Financial Consultancy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,163

3,163

At 31 March 2024

3,163

3,163

Depreciation

At 1 April 2023

1,598

1,598

Charge for the year

470

470

At 31 March 2024

2,068

2,068

Carrying amount

At 31 March 2024

1,095

1,095

At 31 March 2023

1,330

1,330

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100