iClima Earth Ltd
Registered number: 12292575
Statement of Financial Position
as at 3 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 19,337
Current assets
Debtors 4 27,009 4,513
Cash at bank and in hand 15,456 45,719
42,465 50,232
Creditors: amounts falling due within one year 5 (31,357) (4,133)
Net current assets 11,108 46,100
Net assets 11,108 65,436
Capital and reserves
Called up share capital 58,306 58,306
Share premium 1,188,918 1,188,918
Profit and loss account (1,236,116) (1,181,788)
Shareholders' funds 11,108 65,436
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S K Leekha
Director
Approved by the board on 25 November 2024
iClima Earth Ltd
Notes to the Accounts
for the period from 1 November 2023 to 3 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company ceased trading on 3 September 2024 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing down the company’s assets to net realisable value. No provision has been made for future costs of terminating the business unless such costs were committed at the reporting date.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services and is recognised by reference to the stage of completion of contracts. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value and impairment losses are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 4 4
3 Intangible fixed assets £
Website and Trade Marks:
Cost
At 1 November 2023 42,642
On disposals (42,642)
At 3 September 2024 -
Amortisation
At 1 November 2023 23,305
On disposals (23,305)
At 3 September 2024 -
Net book value
At 3 September 2024 -
At 31 October 2023 19,337
4 Debtors 2024 2023
£ £
Trade debtors 5,584 1,458
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 1,806
Other debtors 21,425 1,248
27,009 4,513
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 197
Accruals 30,095 910
Other taxes and social security costs 105 2,504
Other creditors 1,157 521
31,357 4,133
6 Other information
iClima Earth Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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