2 false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,748 3,503 5,251 757 1,277 2,034 3,217 991 xbrli:pure xbrli:shares iso4217:GBP 05505383 2023-08-01 2024-07-31 05505383 2024-07-31 05505383 2023-07-31 05505383 2022-08-01 2023-07-31 05505383 2023-07-31 05505383 2022-07-31 05505383 core:FurnitureFittings 2023-08-01 2024-07-31 05505383 bus:Director1 2023-08-01 2024-07-31 05505383 core:FurnitureFittings 2023-07-31 05505383 core:FurnitureFittings 2024-07-31 05505383 core:WithinOneYear 2024-07-31 05505383 core:WithinOneYear 2023-07-31 05505383 core:ShareCapital 2024-07-31 05505383 core:ShareCapital 2023-07-31 05505383 core:RetainedEarningsAccumulatedLosses 2024-07-31 05505383 core:RetainedEarningsAccumulatedLosses 2023-07-31 05505383 core:FurnitureFittings 2023-07-31 05505383 bus:SmallEntities 2023-08-01 2024-07-31 05505383 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05505383 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05505383 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05505383 bus:FullAccounts 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: 05505383
I K Tech Limited
Filleted Unaudited Financial Statements
31 July 2024
I K Tech Limited
Financial Statements
Year ended 31 July 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
I K Tech Limited
Balance Sheet
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
3,217
991
Current assets
Debtors
6
3,107
3,300
Cash at bank and in hand
18,213
46,374
--------
--------
21,320
49,674
Creditors: amounts falling due within one year
7
( 23,378)
( 29,807)
--------
--------
Net current (liabilities)/assets
( 2,058)
19,867
-------
--------
Total assets less current liabilities
1,159
20,858
Provisions
Taxation including deferred tax
( 804)
( 248)
-------
--------
Net assets
355
20,610
-------
--------
I K Tech Limited
Balance Sheet (continued)
31 July 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
255
20,510
----
--------
Shareholders funds
355
20,610
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 November 2024 , and are signed on behalf of the board by:
Mr I C Balmer
Director
Company registration number: 05505383
I K Tech Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 August 2023
1,748
Additions
3,503
-------
At 31 July 2024
5,251
-------
Depreciation
At 1 August 2023
757
Charge for the year
1,277
-------
At 31 July 2024
2,034
-------
Carrying amount
At 31 July 2024
3,217
-------
At 31 July 2023
991
-------
6. Debtors
2024
2023
£
£
Trade debtors
2,200
3,300
Other debtors
907
-------
-------
3,107
3,300
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
15,823
19,613
Social security and other taxes
5,555
7,641
Other creditors
2,000
2,553
--------
--------
23,378
29,807
--------
--------
8. Directors' advances, credits and guarantees
The directors had interest free, repayable on demand loans during the year. At the beginning of the year the company owed them £873 and at the end of the year they owed the company £907.