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IKRUSH LIMITED

Registered Number
SC435074
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2024

IKRUSH LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

JABBAR, Mohammed Kashaf
JABBAR, Mohammed Qasim

Registered Address

86 Broad Street
Glasgow
G40 2BA

Registered Number

SC435074 (Scotland)
IKRUSH LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,14014,620
24,14014,620
Current assets
Stocks416,532383,728
Debtors136,718174,684
Cash at bank and on hand92,315230,291
645,565788,703
Creditors amounts falling due within one year(279,270)(394,944)
Net current assets (liabilities)366,295393,759
Total assets less current liabilities390,435408,379
Creditors amounts falling due after one year(16,265)(26,359)
Net assets374,170382,020
Capital and reserves
Called up share capital22
Profit and loss account374,168382,018
Shareholders' funds374,170382,020
The financial statements were approved and authorised for issue by the Board of Directors on 13 March 2025, and are signed on its behalf by:
JABBAR, Mohammed Qasim
Director
Registered Company No. SC435074
IKRUSH LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year2226
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2362,177
Additions15,299
At 31 October 2477,477
Depreciation and impairment
At 01 November 2347,557
Charge for year5,779
At 31 October 2453,336
Net book value
At 31 October 2424,140
At 31 October 2314,620