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REGISTERED NUMBER: 11794419 (England and Wales)















IDK Automotive Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






IDK Automotive Ltd (Registered number: 11794419)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDK Automotive Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr D J Smith





REGISTERED OFFICE: Brooklyn
Framfield
Uckfield
East Sussex
TN22 5PN





REGISTERED NUMBER: 11794419 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

IDK Automotive Ltd (Registered number: 11794419)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 597 796

CURRENT ASSETS
Stocks 673 514
Debtors 5 763 613
Cash at bank and in hand 1,084 769
2,520 1,896
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

13,065

14,341
NET CURRENT LIABILITIES (10,545 ) (12,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,948

)

(11,649

)

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(1,171

)

(2,150

)

PROVISIONS FOR LIABILITIES (101 ) (148 )
NET LIABILITIES (11,220 ) (13,947 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (11,221 ) (13,948 )
SHAREHOLDERS' FUNDS (11,220 ) (13,947 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IDK Automotive Ltd (Registered number: 11794419)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr D J Smith - Director


IDK Automotive Ltd (Registered number: 11794419)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

IDK Automotive Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents revenue from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


IDK Automotive Ltd (Registered number: 11794419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company contributes to the personal pension schemes of its employees. These contributions are charged to the income statement in the period in which they are payable.

Going concern
These financial statements have been prepared on a going concern basis notwithstanding the deficiency of net assets shown on the Balance Sheet. The director has assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the director believes that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next twelve months.

The director has also indicated his willingness to continue to support the company for at least the next twelve months. He has thus concluded that the going concern basis remains appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

IDK Automotive Ltd (Registered number: 11794419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 641 1,250 1,891
DEPRECIATION
At 1 April 2023 371 724 1,095
Charge for year 68 131 199
At 31 March 2024 439 855 1,294
NET BOOK VALUE
At 31 March 2024 202 395 597
At 31 March 2023 270 526 796

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 763 613

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 980 956
Taxation and social security 393 1,094
Other creditors 11,692 12,291
13,065 14,341

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,171 2,150

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

IDK Automotive Ltd (Registered number: 11794419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director £1,870 (2023 - £1,796). This balance is unsecured, interest free and repayable on demand.