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REGISTERED NUMBER: 10139566 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Ithavoll Limited

Ithavoll Limited (Registered number: 10139566)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ithavoll Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr D P Grundy
Mr J D Cooper





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 10139566 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Ithavoll Limited (Registered number: 10139566)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,139 1,341

CURRENT ASSETS
Debtors 5 1,409 14,673
Cash at bank 25,478 71,802
26,887 86,475
CREDITORS
Amounts falling due within one year 6 28,623 67,024
NET CURRENT (LIABILITIES)/ASSETS (1,736 ) 19,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

(597

)

20,792

PROVISIONS FOR LIABILITIES - 255
NET (LIABILITIES)/ASSETS (597 ) 20,537

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (697 ) 20,437
(597 ) 20,537

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 5 November 2024 and were signed on its behalf by:



Mr D P Grundy - Director


Ithavoll Limited (Registered number: 10139566)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Ithavoll 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company's liabilities exceed the company's assets at the balance sheet date. However, a director is one of the largest creditors, and does not intend to withdraw the support from the company. In addition, in the opinion of the directors, the company will continue trading in the foreseeable future and the accounts have been prepared on the going concern basis.

Ithavoll Limited (Registered number: 10139566)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2023
and 31 May 2024 2,052
DEPRECIATION
At 1 June 2023 711
Charge for year 202
At 31 May 2024 913
NET BOOK VALUE
At 31 May 2024 1,139
At 31 May 2023 1,341

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,409 14,673

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 126
Taxation and social security - 26,798
Other creditors 28,623 40,100
28,623 67,024