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Registered Number: 05264896
England and Wales

 

 

 

IOLAUS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
One Two One Accounts Ltd
30 April 2024



....................................................

One Two One Accounts Ltd

44 Astley Road
Seaton Delaval
Whitley Bay
Tyne and Wear
NE25 0DG
27 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 167,343    167,343 
Investments 4 86,302    87,209 
253,645    254,552 
Current assets      
Debtors: amounts falling due within one year 829    829 
Cash at bank and in hand 73,701    94,780 
74,530    95,609 
Creditors: amount falling due within one year (673)   (6,078)
Net current assets 73,857    89,531 
 
Total assets less current liabilities 327,502    344,083 
Creditors: amount falling due after more than one year   (631)
Net assets 327,502    343,452 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 327,492    343,442 
Shareholders' funds 327,502    343,452 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
Colin Jones
Director
2
General Information
Iolaus Ltd is a private company, limited by shares, registered in England and Wales, registration number 05264896, registration address Rivermead, Monkton, Devon, EX14 9QH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Straight Line
Plant and Machinery 20% Straight Line
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Land and Buildings   Total
  £   £   £   £
At 01 May 2023 1,787    10,435    156,549    168,771 
Additions      
Disposals      
At 30 April 2024 1,787    10,435    156,549    168,771 
Depreciation
At 01 May 2023 1,428        1,428 
Charge for year      
On disposals      
At 30 April 2024 1,428        1,428 
Net book values
Closing balance as at 30 April 2024 359    10,435    156,549    167,343 
Opening balance as at 01 May 2023 359    10,435    156,549    167,343 

The net book value of Land and Buildings includes £ 156,549 (2023 £156,549) in respect of assets leased under finance leases or hire purchase contracts.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 May 2023 86,302    86,302 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 April 2024 86,302    86,302 

3