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REGISTERED NUMBER: 09414120 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

IBISM LIMITED

IBISM LIMITED (REGISTERED NUMBER: 09414120)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IBISM LIMITED

Company Information
for the Year Ended 31st January 2024







DIRECTOR: Mr R Talidi





REGISTERED OFFICE: 71-75 Shelton Street
London
WC2H 9JQ





REGISTERED NUMBER: 09414120 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

IBISM LIMITED (REGISTERED NUMBER: 09414120)

Balance Sheet
31st January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 653 1,026

CURRENT ASSETS
Debtors 5 35,281 27,360
Cash at bank 3,710 12,898
38,991 40,258
CREDITORS
Amounts falling due within one year 6 19,640 27,281
NET CURRENT ASSETS 19,351 12,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,004

14,003

CREDITORS
Amounts falling due after more than one
year

7

(5,864

)

(10,264

)

PROVISIONS FOR LIABILITIES (124 ) (195 )
NET ASSETS 14,016 3,544

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 14,006 3,534
SHAREHOLDERS' FUNDS 14,016 3,544

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

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

The director acknowledges his 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.

IBISM LIMITED (REGISTERED NUMBER: 09414120)

Balance Sheet - continued
31st January 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 director and authorised for issue on 31st October 2024 and were signed by:





Mr R Talidi - Director


IBISM LIMITED (REGISTERED NUMBER: 09414120)

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

1. STATUTORY INFORMATION

iBISM 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.

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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - straight line over 3 years

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

IBISM LIMITED (REGISTERED NUMBER: 09414120)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Going concern
The accounts have been prepared on a going concern basis due to the continued support of the director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st February 2023
and 31st January 2024 1,119
DEPRECIATION
At 1st February 2023 93
Charge for year 373
At 31st January 2024 466
NET BOOK VALUE
At 31st January 2024 653
At 31st January 2023 1,026

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 35,000 27,360
VAT 281 -
35,281 27,360

IBISM LIMITED (REGISTERED NUMBER: 09414120)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 4,400 4,400
Trade creditors 89 -
Tax 13,836 12,455
Social security and other taxes - 8,325
Directors' current accounts 40 811
Accrued expenses 1,275 1,290
19,640 27,281

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 4,400 4,400
Bank loans - 2-5 years 1,464 5,864
5,864 10,264

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 10,264 14,664

The loan is a government backed Bounce Back Loan.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
10 Ordinary £1.00 10 10

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

31.1.24 31.1.23
£    £   
Mr R Talidi
Balance outstanding at start of year (811 ) 411
Amounts advanced - 95,458
Amounts repaid 811 (96,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (811 )

IBISM LIMITED (REGISTERED NUMBER: 09414120)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

11. RELATED PARTY DISCLOSURES

As at 31st January 2024, the company owed to its director £40 (2023 - the director owed the company £811). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Talidi.

The above has controlled the company by virtue of his 100% shareholding in the issued share capital.