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REGISTERED NUMBER: 10800122 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Iking Ltd

Iking Ltd (Registered number: 10800122)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Iking Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: I Alotia





SECRETARY:





REGISTERED OFFICE: 42 Bamford Way
Rochdale
OL11 5NB





REGISTERED NUMBER: 10800122 (England and Wales)





ACCOUNTANTS: Rowlinson Rainbow & Company
5/7 New Road
Radcliffe
Greater Manchester
M26 1LS

Iking Ltd (Registered number: 10800122)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,128 2,838
Property, plant and equipment 5 20,447 24,679
22,575 27,517

CURRENT ASSETS
Inventories 49,591 69,067
Debtors 6 35,400 56,954
Cash at bank and in hand 13,586 12,894
98,577 138,915
CREDITORS
Amounts falling due within one year 7 26,959 39,765
NET CURRENT ASSETS 71,618 99,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,193

126,667

CREDITORS
Amounts falling due after more than one
year

8

45,560

68,116
NET ASSETS 48,633 58,551

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 48,631 58,549
SHAREHOLDERS' FUNDS 48,633 58,551

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.

Iking Ltd (Registered number: 10800122)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





I Alotia - Director


Iking Ltd (Registered number: 10800122)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Iking Ltd 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

Iking Ltd (Registered number: 10800122)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 12,314
AMORTISATION
At 1 July 2023 9,476
Charge for year 710
At 30 June 2024 10,186
NET BOOK VALUE
At 30 June 2024 2,128
At 30 June 2023 2,838

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2023 35,528
Additions 2,584
At 30 June 2024 38,112
DEPRECIATION
At 1 July 2023 10,849
Charge for year 6,816
At 30 June 2024 17,665
NET BOOK VALUE
At 30 June 2024 20,447
At 30 June 2023 24,679

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 24,552 43,650
Other debtors 10,848 13,304
35,400 56,954

Iking Ltd (Registered number: 10800122)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 2,690
Trade creditors 13,317 22,758
Taxation and social security 9,610 9,584
Other creditors 4,032 4,733
26,959 39,765

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other creditors 45,560 68,116