IKAY REX LTD

Company Registration Number:
12441261 (England and Wales)

Unaudited abridged accounts for the year ended 29 February 2024

Period of accounts

Start date: 01 March 2023

End date: 29 February 2024

IKAY REX LTD

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Notes

IKAY REX LTD

Balance sheet

As at 29 February 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 250 1
Total fixed assets: 250 1
Current assets
Debtors: 4 550 1,769
Cash at bank and in hand: 3,359 1
Total current assets: 3,909 1,770
Creditors: amounts falling due within one year: 5 (648) (1,295)
Net current assets (liabilities): 3,261 475
Total assets less current liabilities: 3,511 476
Total net assets (liabilities): 3,511 476
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 3,411 376
Shareholders funds: 3,511 476

The notes form part of these financial statements

IKAY REX LTD

Balance sheet statements

For the year ending 29 February 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 January 2025
and signed on behalf of the board by:

Name: Reginald Ibe
Status: Director

The notes form part of these financial statements

IKAY REX LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Other accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

IKAY REX LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

The Director is the only employee of the company at YE

IKAY REX LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible Assets

Total
Cost £
At 01 March 2023 1
Additions 249
At 29 February 2024 250
Net book value
At 29 February 2024 250
At 28 February 2023 1

Property, plant and equipment (PPE) are the long-term tangible assets that are shown on the balance sheet of the company. The company recognizes an asset as an item of PPE when the asset has a useful life for more than one year and it is used for production or supply of goods or services, for rental to others, or for administrative purposes. Property, plant and equipment include land, building, machinery, vehicles, office equipment and furniture, etc. The company records an item of property, plant and equipment initially at its cost in the accounting record. It includes all costs that necessary to bring the asset to the working condition that it can be used as intended. The cost of an item of PPE includes purchased price, import duties, and the costs to get assets to the location and condition ready to use such as transportation and installation cost, etc.

IKAY REX LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 550 1,769

This has already been deducted from the director wage before arriving at the current wage. Short term debtors are measured at transaction price (which is usually the invoice 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 the amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

IKAY REX LTD

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Creditors: amounts falling due within one year note

Short term creditors are measured at transaction price (which is usually the invoice 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.