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COMPANY REGISTRATION NUMBER: 08573931
ION'S DRIVING SCHOOL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
ION'S DRIVING SCHOOL LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
CURRENT ASSETS
Debtors
6
75
4,454
CREDITORS: amounts falling due within one year
7
13,364
18,204
--------
--------
NET CURRENT LIABILITIES
13,289
13,750
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 13,289)
( 13,750)
CREDITORS: amounts falling due after more than one year
8
2,383
4,983
--------
--------
NET LIABILITIES
( 15,672)
( 18,733)
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
( 15,772)
( 18,833)
--------
--------
SHAREHOLDERS DEFICIT
( 15,672)
( 18,733)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
Mr I Voiculescu
Director
Company registration number: 08573931
ION'S DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 Sorrel Crescent, Wootton, Northampton, NN4 6FR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Equipment
£
Cost
At 1 July 2023 and 30 June 2024
410
----
Depreciation
At 1 July 2023 and 30 June 2024
410
----
Carrying amount
At 30 June 2024
----
At 30 June 2023
----
6. DEBTORS
2024
2023
£
£
Trade debtors
263
Other debtors
75
4,191
----
-------
75
4,454
----
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,012
5,429
Trade creditors
170
1,216
Corporation tax
456
Social security and other taxes
439
Other creditors
7,743
11,103
--------
--------
13,364
18,204
--------
--------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,383
4,983
-------
-------
9. GOING CONCERN
The director has considered the period to 31 March 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.