2023-08-012024-07-312024-07-31false10300837IGLUU 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IGLUU LTD

Registered Number
10300837
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

IGLUU LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

BALF, Matthew
LIU, Wai Ping, Dr

Registered Address

Suite 312 Atlas House Caxton Close
Wigan
WN3 6XU

Registered Number

10300837 (England and Wales)
IGLUU LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3129,080141,527
129,080141,527
Current assets
Stocks4620,820479,929
Debtors5242,13598,577
Cash at bank and on hand260,477265,920
1,123,432844,426
Creditors amounts falling due within one year6(249,397)(155,748)
Net current assets (liabilities)874,035688,678
Total assets less current liabilities1,003,115830,205
Provisions for liabilities7(26,170)(22,157)
Net assets976,945808,048
Capital and reserves
Called up share capital44
Profit and loss account976,941808,044
Shareholders' funds976,945808,048
The financial statements were approved and authorised for issue by the Board of Directors on 9 April 2025, and are signed on its behalf by:
BALF, Matthew
Director
Registered Company No. 10300837
IGLUU LTD
Notes to the Financial Statements
for the year ended 31 July 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.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings-10
Vehicles20-
Office Equipment-3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 2338,29099,5827,97716,176162,025
Additions---298298
At 31 July 2438,29099,5827,97716,474162,323
Depreciation and impairment
At 01 August 232,2086,6322,6169,04220,498
Charge for year1,0238,5905362,59612,745
At 31 July 243,23115,2223,15211,63833,243
Net book value
At 31 July 2435,05984,3604,8254,836129,080
At 31 July 2336,08292,9505,3617,134141,527
4.Stocks

2024

2023

££
Other stocks620,820479,929
Total620,820479,929
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables131,49558,366
Other debtors53,61231,449
Prepayments and accrued income57,0288,762
Total242,13598,577
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables96,34367,082
Taxation and social security131,88188,662
Other creditors2,0734
Accrued liabilities and deferred income19,100-
Total249,397155,748
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)26,17022,157
Total26,17022,157
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BALF, Matthew7,03011,10510,7037,432
7,03011,10510,7037,432