1 April 2023 false No description of principal activity Taxfiler 2024.6 13990823business:PrivateLimitedCompanyLtd2023-04-012024-03-31 139908232023-03-31 139908232023-04-012024-03-31 13990823business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 13990823business:FilletedAccounts2023-04-012024-03-31 139908232024-03-31 139908232023-03-31 13990823core:WithinOneYear2024-03-31 13990823core:WithinOneYear2023-03-31 13990823core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 13990823core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 13990823core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 13990823core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 13990823core:PreviouslyStatedAmount2024-03-31 13990823core:PreviouslyStatedAmount2023-03-31 13990823business:SmallEntities2023-04-012024-03-31 13990823business:Director12023-04-012024-03-31 13990823countries:EnglandWales2023-04-012024-03-31 13990823business:RegisteredOffice2023-04-012024-03-31 139908232022-03-212023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 13990823 (England and Wales)
Ira Infotech Limited Unaudited accounts for the year ended 31 March 2024
Ira Infotech Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
9,860 
142 
Cash at bank and in hand
5,948 
54,165 
15,808 
54,307 
Creditors: amounts falling due within one year
(8,949)
(15,261)
Net current assets
6,859 
39,046 
Net assets
6,859 
39,046 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,759 
38,946 
Shareholders' funds
6,859 
39,046 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by
Sumit Janmejai Director Company Registration No. 13990823
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Ira Infotech Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Ira Infotech Limited is a private company, limited by shares, registered in England and Wales, registration number 13990823. The registered office is 92 Woodford Avenue, Ilford, IG2 6XD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Financial instruments
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments issues' of FRS 102 to all of its financial instruments. Basic financial assets, which includes debtors, cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consists a financing transaction, where the transaction is measured at the present valve of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Taxation
The tax expenses represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further includes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date
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Ira Infotech Limited Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
9,860 
142 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
7,949 
9,138 
Loans from directors
- 
5,923 
Accruals
1,000 
200 
8,949 
15,261 
6
Transactions with related parties
Included in the other debtors at the year end is an amount of £9,860 due from directors. The amount was paid back post year end.
7
Average number of employees
During the year the average number of employees was 2 (2023: 1).
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