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Company Registration No. 11757460 (England and Wales)
Ikonik Visuals Cinematography Studio Ltd Unaudited accounts for the year ended 31 January 2024
Ikonik Visuals Cinematography Studio Ltd Unaudited accounts Contents
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Ikonik Visuals Cinematography Studio Ltd Company Information for the year ended 31 January 2024
Director
Mr Mohammed Ikraam Khan
Company Number
11757460 (England and Wales)
Registered Office
The Elsie Whiteley Innovation Centre C/O Pinnacle, Hopwood Lane Halifax HX1 5ER England
Accountants
Pinnacle Chartered Accountants & Tax Advisors The Elsie Whiteley Innovation Centre Hopwood Lane Halifax HX1 5ER
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Ikonik Visuals Cinematography Studio Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,894 
2,410 
Current assets
Debtors
297 
317 
Cash at bank and in hand
3,886 
21,002 
4,183 
21,319 
Creditors: amounts falling due within one year
(29,441)
(29,601)
Net current liabilities
(25,258)
(8,282)
Total assets less current liabilities
(20,364)
(5,872)
Creditors: amounts falling due after more than one year
(3,604)
(7,204)
Provisions for liabilities
Deferred tax
(930)
(458)
Net liabilities
(24,898)
(13,534)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(24,908)
(13,544)
Shareholders' funds
(24,898)
(13,534)
For the year ending 31 January 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 November 2024 and were signed on its behalf by
Mr Mohammed Ikraam Khan Director Company Registration No. 11757460
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Ikonik Visuals Cinematography Studio Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Ikonik Visuals Cinematography Studio Ltd is a private company, limited by shares, registered in England and Wales, registration number 11757460. The registered office is The Elsie Whiteley Innovation Centre, C/O Pinnacle, Hopwood Lane, Halifax, HX1 5ER, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25.00% on cost
Fixtures & fittings
25.00% on cost
Computer equipment
33.33% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Ikonik Visuals Cinematography Studio Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2023
32,794 
Additions
6,127 
At 31 January 2024
38,921 
Depreciation
At 1 February 2023
30,384 
Charge for the year
3,643 
At 31 January 2024
34,027 
Net book value
At 31 January 2024
4,894 
At 31 January 2023
2,410 
5
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
930 
458 
2024 
2023 
£ 
£ 
Provision at start of year
458 
990 
Charged/(credited) to the profit and loss account
472 
(532)
Provision at end of year
930 
458 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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