Silverfin false false 31/03/2024 18/02/2023 31/03/2024 M S Hastings 18/02/2023 17 November 2024 The principle activity of the Company during the financial period was the development of apps and softwares for energy companies. 14672340 2024-03-31 14672340 bus:Director1 2024-03-31 14672340 core:CurrentFinancialInstruments 2024-03-31 14672340 core:ShareCapital 2024-03-31 14672340 core:RetainedEarningsAccumulatedLosses 2024-03-31 14672340 core:OtherResidualIntangibleAssets 2023-02-17 14672340 2023-02-17 14672340 core:OtherResidualIntangibleAssets 2024-03-31 14672340 core:ComputerEquipment 2023-02-17 14672340 core:ComputerEquipment 2024-03-31 14672340 bus:OrdinaryShareClass1 2024-03-31 14672340 2023-02-18 2024-03-31 14672340 bus:FilletedAccounts 2023-02-18 2024-03-31 14672340 bus:SmallEntities 2023-02-18 2024-03-31 14672340 bus:AuditExemptWithAccountantsReport 2023-02-18 2024-03-31 14672340 bus:PrivateLimitedCompanyLtd 2023-02-18 2024-03-31 14672340 bus:Director1 2023-02-18 2024-03-31 14672340 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-02-18 2024-03-31 14672340 core:ComputerEquipment core:TopRangeValue 2023-02-18 2024-03-31 14672340 core:OtherResidualIntangibleAssets 2023-02-18 2024-03-31 14672340 core:ComputerEquipment 2023-02-18 2024-03-31 14672340 bus:OrdinaryShareClass1 2023-02-18 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14672340 (England and Wales)

IDEAONOMY LTD

Unaudited Financial Statements
For the financial period from 18 February 2023 to 31 March 2024
Pages for filing with the registrar

IDEAONOMY LTD

Unaudited Financial Statements

For the financial period from 18 February 2023 to 31 March 2024

Contents

IDEAONOMY LTD

BALANCE SHEET

As at 31 March 2024
IDEAONOMY LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Intangible assets 3 5,748
Tangible assets 4 1,928
7,676
Current assets
Debtors 5 180,984
Cash at bank and in hand 749
181,733
Creditors: amounts falling due within one year 6 ( 194,876)
Net current liabilities (13,143)
Total assets less current liabilities (5,467)
Net liabilities ( 5,467)
Capital and reserves
Called-up share capital 7 100
Profit and loss account ( 5,567 )
Total shareholder's deficit ( 5,467)

For the financial period 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 financial statements of Ideaonomy Ltd (registered number: 14672340) were approved and authorised for issue by the Director on 17 November 2024. They were signed on its behalf by:

M S Hastings
Director
IDEAONOMY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 February 2023 to 31 March 2024
IDEAONOMY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 18 February 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Ideaonomy Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 128 City Road, London, EC1V 2NX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £5,467. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These accounts have been prepared for the long period 18 February 2023 to 31 March 2024 so as to align with the preferred accounting date from incorporation.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
18.02.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 18 February 2023 0 0
Additions 6,150 6,150
At 31 March 2024 6,150 6,150
Accumulated amortisation
At 18 February 2023 0 0
Charge for the financial period 402 402
At 31 March 2024 402 402
Net book value
At 31 March 2024 5,748 5,748

4. Tangible assets

Computer equipment Total
£ £
Cost
At 18 February 2023 0 0
Additions 2,239 2,239
At 31 March 2024 2,239 2,239
Accumulated depreciation
At 18 February 2023 0 0
Charge for the financial period 311 311
At 31 March 2024 311 311
Net book value
At 31 March 2024 1,928 1,928

5. Debtors

31.03.2024
£
Trade debtors 180,000
Prepayments 984
180,984

6. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 32,055
Other taxation and social security 19,728
Other creditors 143,093
194,876

7. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100