Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10393060 Dr Tolulope Saiki Dr Olalekan Saiki iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10393060 2023-03-31 10393060 2024-03-31 10393060 2023-04-01 2024-03-31 10393060 frs-core:CurrentFinancialInstruments 2024-03-31 10393060 frs-core:Non-currentFinancialInstruments 2024-03-31 10393060 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 10393060 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-31 10393060 frs-core:ShareCapital 2024-03-31 10393060 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10393060 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10393060 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10393060 frs-bus:SmallEntities 2023-04-01 2024-03-31 10393060 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10393060 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10393060 frs-bus:Director1 2023-04-01 2024-03-31 10393060 frs-bus:Director2 2023-04-01 2024-03-31 10393060 frs-countries:EnglandWales 2023-04-01 2024-03-31 10393060 2022-03-31 10393060 2023-03-31 10393060 2022-04-01 2023-03-31 10393060 frs-core:CurrentFinancialInstruments 2023-03-31 10393060 frs-core:Non-currentFinancialInstruments 2023-03-31 10393060 frs-core:ShareCapital 2023-03-31 10393060 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10393060
Ikodea Estates Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10393060
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 754,377 754,377
754,377 754,377
CURRENT ASSETS
Debtors 5 - 4,050
Cash at bank and in hand 1,421 4,665
1,421 8,715
Creditors: Amounts Falling Due Within One Year 6 (376,812 ) (532,552 )
NET CURRENT ASSETS (LIABILITIES) (375,391 ) (523,837 )
TOTAL ASSETS LESS CURRENT LIABILITIES 378,986 230,540
Creditors: Amounts Falling Due After More Than One Year 7 (269,692 ) (117,958 )
NET ASSETS 109,294 112,582
CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Profit and Loss Account 9,294 12,582
SHAREHOLDERS' FUNDS 109,294 112,582
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Tolulope Saiki
Director
12 November 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ikodea Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10393060 . The registered office is Damer House, Meadow Way, Wickford, Essex, SS12 9HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes, and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
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4. Tangible Assets
Investment Properties
£
Cost
As at 1 April 2023 754,377
As at 31 March 2024 754,377
Net Book Value
As at 31 March 2024 754,377
As at 1 April 2023 754,377
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 4,050
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 33,643 20,542
Other creditors 343,169 511,455
Taxation and social security - 555
376,812 532,552
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 269,692 117,958
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
9. Related Party Transactions
Dr O Saiki and Dr T Saiki are directors of Ikodea UK Limited. Ikodea Estates Limited is a wholly-owned subsidiary of Ikodea UK Limited.
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