0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07484235 2024-02-01 2025-01-31 07484235 2025-01-31 07484235 2024-01-31 07484235 2023-02-01 2024-01-31 07484235 2024-01-31 07484235 2023-01-31 07484235 bus:Director1 2024-02-01 2025-01-31 07484235 core:WithinOneYear 2025-01-31 07484235 core:WithinOneYear 2024-01-31 07484235 core:ShareCapital 2025-01-31 07484235 core:ShareCapital 2024-01-31 07484235 core:RetainedEarningsAccumulatedLosses 2025-01-31 07484235 core:RetainedEarningsAccumulatedLosses 2024-01-31 07484235 bus:SmallEntities 2024-02-01 2025-01-31 07484235 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 07484235 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 07484235 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07484235 bus:AbridgedAccounts 2024-02-01 2025-01-31 07484235 core:ComputerEquipment 2024-02-01 2025-01-31
COMPANY REGISTRATION NUMBER: 07484235
Pike IT Limited
Filleted Unaudited Abridged Financial Statements
31 January 2025
Pike IT Limited
Abridged Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
4
1,884
2,933
Current assets
Debtors
2,356
66
Cash at bank and in hand
4,172
88,217
-------
--------
6,528
88,283
Creditors: amounts falling due within one year
1,090
18,004
-------
--------
Net current assets
5,438
70,279
-------
--------
Total assets less current liabilities
7,322
73,212
-------
--------
Net assets
7,322
73,212
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
7,222
73,112
-------
--------
Shareholders funds
7,322
73,212
-------
--------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.
Pike IT Limited
Abridged Statement of Financial Position (continued)
31 January 2025
These abridged financial statements were approved by the board of directors and authorised for issue on 1 April 2025 , and are signed on behalf of the board by:
Mr S Pikett
Director
Company registration number: 07484235
Pike IT Limited
Notes to the Abridged Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is C/- Sable International, 5th Floor, 18 St. Swithin's Lane, London, EC4N 8AD.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Office Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
£
Cost
At 1 February 2024
4,596
Additions
1,375
Disposals
( 3,024)
-------
At 31 January 2025
2,947
-------
Depreciation
At 1 February 2024
1,663
Charge for the year
1,286
Disposals
( 1,886)
-------
At 31 January 2025
1,063
-------
Carrying amount
At 31 January 2025
1,884
-------
At 31 January 2024
2,933
-------
5. Related party transactions
The company was under the control of Mr Stephen Pikett throughout the current and previous year. Mr Stephen Pikett is the managing director and majority shareholder.