IRIS Accounts Production v24.3.2.46 05437895 director 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054378952023-04-30054378952024-04-30054378952023-05-012024-04-30054378952022-04-30054378952022-05-012023-04-30054378952023-04-3005437895ns15:EnglandWales2023-05-012024-04-3005437895ns14:PoundSterling2023-05-012024-04-3005437895ns10:Director12023-05-012024-04-3005437895ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005437895ns10:SmallEntities2023-05-012024-04-3005437895ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005437895ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005437895ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005437895ns10:FullAccounts2023-05-012024-04-300543789512023-05-012024-04-3005437895ns10:RegisteredOffice2023-05-012024-04-3005437895ns5:CurrentFinancialInstruments2024-04-3005437895ns5:CurrentFinancialInstruments2023-04-3005437895ns5:ShareCapital2024-04-3005437895ns5:ShareCapital2023-04-3005437895ns5:RetainedEarningsAccumulatedLosses2024-04-3005437895ns5:RetainedEarningsAccumulatedLosses2023-04-3005437895ns5:NetGoodwill2023-05-012024-04-3005437895ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3005437895ns5:NetGoodwill2023-04-3005437895ns5:NetGoodwill2024-04-3005437895ns5:NetGoodwill2023-04-3005437895ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005437895ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30054378951ns10:Director12023-04-30054378951ns10:Director12022-04-30054378951ns10:Director12023-05-012024-04-30054378951ns10:Director12022-05-012023-04-30054378951ns10:Director12024-04-30054378951ns10:Director12023-04-30
REGISTERED NUMBER: 05437895 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Karen A. Ioannou Limited

Karen A. Ioannou Limited (Registered number: 05437895)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Karen A. Ioannou Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Ms K Ioannou





REGISTERED OFFICE: C/o T. G. Baynes Solicitors
208 Broadway
Bexleyheath
Kent
DA6 7BG





REGISTERED NUMBER: 05437895 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Karen A. Ioannou Limited (Registered number: 05437895)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 784,947 478,181
Cash at bank 188,414 243,105
973,361 721,286
CREDITORS
Amounts falling due within one year 6 195,219 102,654
NET CURRENT ASSETS 778,142 618,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

778,142

618,632

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 778,042 618,532
SHAREHOLDERS' FUNDS 778,142 618,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2025 and were signed by:





Ms K Ioannou - Director


Karen A. Ioannou Limited (Registered number: 05437895)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Karen A. Ioannou Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives as follows:

Goodwill - twenty years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Turnover
Turnover represents the company's share of the profits of the partnerships.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Karen A. Ioannou Limited (Registered number: 05437895)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Goodwill arose on the purchase of the company's share in the partnership.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Due from partnerships 368,369 261,121
Other debtor 217,302 121,279
Directors' current accounts 199,276 95,781
784,947 478,181

Other than as stated under directors loan account above, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 152,366 94,855
Social security and other taxes 166 435
Other creditors 41,187 6,200
Accruals and deferred income 1,500 1,164
195,219 102,654

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:
Nominal
Value:

2024
£

2023
£

51 Ordinary A £1 51 51
25 Ordinary B £1 25 25
24 Ordinary C £1 24 24
100 100

Karen A. Ioannou Limited (Registered number: 05437895)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Ms K Ioannou
Balance outstanding at start of year 95,781 43,776
Amounts advanced 221,315 225,445
Amounts repaid (117,820 ) (173,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 199,276 95,781

The director's loan account was repaid within nine months of the year end. Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2.25% per annum.

9. RELATED PARTY DISCLOSURES

During the year the company transacted with a company in which Ms K Ioannou is also a director and holds significant influence. At the year end the balance owed to Karen A Ioannou Limited was £203,075 (2023: £103,075).During the year an intercompany balance of £150,000 (2023: £Nil) that was owed to Karen A Ioannou Limited was written off.