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IDEAS GENIUS LTD

Registered Number
07298862
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

IDEAS GENIUS LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

ACHAMPONG, Bernard Peter

Registered Address

320 City Road
London
EC1V 2NZ

Registered Number

07298862 (England and Wales)
IDEAS GENIUS LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets329,30331,718
29,30331,718
Current assets
Debtors12,400-
Cash at bank and on hand80,656138,515
93,056138,515
Creditors amounts falling due within one year(175,034)(122,475)
Net current assets (liabilities)(81,978)16,040
Total assets less current liabilities(52,675)47,758
Creditors amounts falling due after one year(28,486)(30,205)
Net assets(81,161)17,553
Capital and reserves
Called up share capital325,000
Profit and loss account(81,164)(7,447)
Shareholders' funds(81,161)17,553
The financial statements were approved and authorised for issue by the Director on 18 March 2025, and are signed on its behalf by:
ACHAMPONG, Bernard Peter
Director
Registered Company No. 07298862
IDEAS GENIUS LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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:
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2338,915
Additions4,648
At 30 June 2443,563
Depreciation and impairment
At 01 July 237,198
Charge for year7,062
At 30 June 2414,260
Net book value
At 30 June 2429,303
At 30 June 2331,718