IL2L.COM Limited 06536602 false 2023-04-01 2024-04-30 2024-04-30 The principal activity of the company is that of an online clothing retailer Digita Accounts Production Advanced 6.30.9574.0 true true 06536602 2023-04-01 2024-04-30 06536602 2024-04-30 06536602 core:RetainedEarningsAccumulatedLosses 2024-04-30 06536602 core:ShareCapital 2024-04-30 06536602 core:CurrentFinancialInstruments 2024-04-30 06536602 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06536602 bus:SmallEntities 2023-04-01 2024-04-30 06536602 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-04-30 06536602 bus:FilletedAccounts 2023-04-01 2024-04-30 06536602 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-04-30 06536602 bus:RegisteredOffice 2023-04-01 2024-04-30 06536602 bus:Director2 2023-04-01 2024-04-30 06536602 bus:Director3 2023-04-01 2024-04-30 06536602 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-04-30 06536602 countries:EnglandWales 2023-04-01 2024-04-30 06536602 2022-04-01 2023-03-31 06536602 2023-03-31 06536602 core:RetainedEarningsAccumulatedLosses 2023-03-31 06536602 core:ShareCapital 2023-03-31 06536602 core:CurrentFinancialInstruments 2023-03-31 06536602 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06536602

IL2L.COM Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 April 2024

 

IL2L.COM Limited

Contents

Statement of Finacial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

IL2L.COM Limited

(Registration number: 06536602)
Statement of Finacial Position as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

168,293

59,448

Cash at bank and in hand

 

1,048,565

481,440

 

1,216,858

540,888

Creditors: Amounts falling due within one year

5

(902,791)

(229,778)

Net assets

 

314,067

311,110

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

304,067

301,110

Shareholders' funds

 

314,067

311,110

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr R Arron
Director

.........................................
Mr M B Arron
Director

 

IL2L.COM Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
One Express
1 George Leigh Street
Manchester
M4 5DL

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

IL2L.COM Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 3).

 

IL2L.COM Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 April 2024

4

Debtors

Current

2024
£

2023
£

Trade debtors

708

2,175

Prepayments

106,429

6,118

Other debtors

61,156

51,155

 

168,293

59,448

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

725,997

73,500

Taxation and social security

175,421

100,586

Accruals and deferred income

1,200

650

Other creditors

173

55,042

902,791

229,778