Registered number
03742065
IRAX LIMITED
Filleted Accounts
30 September 2024
IRAX LIMITED
Registered number: 03742065
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 49,910 44,719
Cash at bank and in hand 10,071 22,047
59,981 66,766
Creditors: amounts falling due within one year 5 (121,067) (113,246)
Net current liabilities (61,086) (46,480)
Net liabilities (61,086) (46,480)
Capital and reserves
Called up share capital 100 100
Profit and loss account (61,186) (46,580)
Shareholders' funds (61,086) (46,480)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R Warburton
Director
Approved by the board on 10 June 2025
IRAX LIMITED
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Equipment and furniture over 4 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Equipment & furniture
£
Cost
At 1 October 2023 24,627
At 30 September 2024 24,627
Depreciation
At 1 October 2023 24,627
At 30 September 2024 24,627
Net book value
At 30 September 2024 -
4 Debtors 2024 2023
£ £
Trade debtors 49,500 44,309
Other debtors 410 410
49,910 44,719
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,456 274
Trade creditors 395 1,077
Taxation and social security costs (130) 3,842
Other creditors 111,346 108,053
121,067 113,246
6 Other information
IRAX LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
"Parklands"
Pottery Lane
Trefonen, Oswestry
Shropshire
SY10 9DF
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