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Registered number: 13021505
Ir&c Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Parvez & Co.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13021505
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 197,547 27,060
197,547 27,060
CURRENT ASSETS
Debtors 5 13,100 9,936
Cash at bank and in hand 102,813 214
115,913 10,150
Creditors: Amounts Falling Due Within One Year 6 (34,312 ) (9,285 )
NET CURRENT ASSETS (LIABILITIES) 81,601 865
TOTAL ASSETS LESS CURRENT LIABILITIES 279,148 27,925
Creditors: Amounts Falling Due After More Than One Year 7 (90,000 ) (90,000 )
NET ASSETS/(LIABILITIES) 189,148 (62,075 )
CAPITAL AND RESERVES
Called up share capital 8 478,364 1,000
Profit and Loss Account (289,216 ) (63,075 )
SHAREHOLDERS' FUNDS 189,148 (62,075)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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
Mr Mohammad Shakil Ashraf
Director
26th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ir&c Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13021505 . The registered office is 30 Chigwell Park Drive, Chigwell, London, IG7 5BD.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
4 3
4. Intangible Assets
Development Costs
£
Cost
As at 1 December 2022 33,825
Additions 219,874
As at 30 November 2023 253,699
Amortisation
As at 1 December 2022 6,765
Provided during the period 49,387
As at 30 November 2023 56,152
Net Book Value
As at 30 November 2023 197,547
As at 1 December 2022 27,060
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 13,100 9,936
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Other creditors 31,037 5,610
Taxation and social security 3,274 3,675
34,312 9,285
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 90,000 90,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 478,364 1,000
Page 4