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REGISTERED NUMBER: 10251964 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

UNICORN IB LIMITED

UNICORN IB LIMITED (REGISTERED NUMBER: 10251964)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


UNICORN IB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: B D Hart





REGISTERED OFFICE: 9 East Grinstead Road
Lingfield
Surrey
RH7 6EP





REGISTERED NUMBER: 10251964 (England and Wales)





ACCOUNTANTS: Skingle Helps & Co
28 Southway
Carshalton Beeches
Surrey
SM5 4HW

UNICORN IB LIMITED (REGISTERED NUMBER: 10251964)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,115 12,623

CURRENT ASSETS
Debtors 5 26,321 23,378
Cash at bank 67,584 39,378
93,905 62,756
CREDITORS
Amounts falling due within one year 6 29,193 26,835
NET CURRENT ASSETS 64,712 35,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,827

48,544

PROVISIONS FOR LIABILITIES 7 3,060 2,400
NET ASSETS 77,767 46,144

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 79,980 79,980
Retained earnings (2,313 ) (33,936 )
SHAREHOLDERS' FUNDS 77,767 46,144

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 January 2025 and were signed by:





B D Hart - Director


UNICORN IB LIMITED (REGISTERED NUMBER: 10251964)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Unicorn IB 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.

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.

The financial statements have been prepared on a going concern basis. The director has not identified any material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover represents the value of commissions earned during the period, excluding value added tax. Turnover is recognised when the insurance services giving rise to the commission are supplied to the customer.

Un-invoiced commissions at the year end are included in accrued income. Invoiced commissions which remain unpaid at the year end are included in debtors.

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 etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

UNICORN IB LIMITED (REGISTERED NUMBER: 10251964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at the transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short-term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 18,103
Additions 7,096
At 30 June 2024 25,199
DEPRECIATION
At 1 July 2023 5,480
Charge for year 3,604
At 30 June 2024 9,084
NET BOOK VALUE
At 30 June 2024 16,115
At 30 June 2023 12,623

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,065 21,168
Other debtors 3,256 2,210
26,321 23,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,817 3,142
Other creditors 23,376 23,693
29,193 26,835

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,060 2,400

UNICORN IB LIMITED (REGISTERED NUMBER: 10251964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 2,400
Provided during year 660
Balance at 30 June 2024 3,060

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the period end, the company owed B D Hart £916 (30 June 2023: £20,603).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B D Hart.