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Company registration number: 06877296







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2025


INIGO BANKRUPTS ASSETS LIMITED






































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INIGO BANKRUPTS ASSETS LIMITED
 


 
COMPANY INFORMATION


Directors
Mr S N Mansell 
Mr D W Eldridge 




Registered number
06877296



Registered office
3000A Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000A Parkway

Whiteley

Hampshire

PO15 7FX





 


INIGO BANKRUPTS ASSETS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


INIGO BANKRUPTS ASSETS LIMITED
REGISTERED NUMBER:06877296



STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2025

2025
2024
Note
£
£

Fixed assets
  

Investments
 4 
26,578
36,646

  
26,578
36,646

Current assets
  

Cash at bank and in hand
  
32,521
34,055

  
32,521
34,055

Creditors: amounts falling due within one year
 5 
(100,720)
(99,684)

Net current liabilities
  
 
 
(68,199)
 
 
(65,629)

Total assets less current liabilities
  
(41,621)
(28,983)

Creditors: amounts falling due after more than one year
 6 
(119,935)
(183,787)

  

Net liabilities
  
(161,556)
(212,770)

Page 1

 


INIGO BANKRUPTS ASSETS LIMITED
REGISTERED NUMBER:06877296


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2025

2025
2024
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(161,656)
(212,870)

  
(161,556)
(212,770)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr S N Mansell
Director

Date: 11 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


INIGO BANKRUPTS ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

1.


General information

Inigo Bankrupts Assets Limited is a private company limited by shares, registered in England and Wales. The
address of its registered office is disclosed on the company information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the period end date, the company's liabilities exceed its assets, therefore the company is reliant on the continued support provided to it by the directors. 
These individuals have confirmed that they will not withdraw the support until the company has sufficient means to repay them. The directors consider that the company is able to meet its obligations as they fall due for the foreseeable future. As a result the accounts have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


INIGO BANKRUPTS ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

 
2.4

Investments

Investments represent the purchase of annuity contracts where the individual has become bankrupt.
The purchase of these amounts are initially recorded at cost. 
Amortisation is then calculated so as to write off the cost of the investments over the estimated life of the income stream attached to them. 
The amortisation on Annuities is calculated using the following basis;
Where an individual is under 75, the cost of the purchase of the annuity is written off on a straight line basis until they reach 75. 
Where the individual is aged 75 or over, the cost of the purchase is written off on a straight line basis over 5 years.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 


INIGO BANKRUPTS ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2024 - 5).

Page 5

 


INIGO BANKRUPTS ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

4.


Investments





Annuities

£



Cost or valuation


At 6 April 2024
625,013


Disposals
(21,505)



At 5 April 2025

603,508



Impairment


At 6 April 2024
588,366


Charge for the period
11,812


Impairment on disposals
(23,248)



At 5 April 2025

576,930



Net book value



At 5 April 2025
26,578



At 5 April 2024
36,646


5.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank overdrafts
10,777
11,355

Corporation tax
13,363
8,125

Other taxation and social security
130
3,848

Other creditors
72,000
72,000

Accruals and deferred income
4,450
4,356

100,720
99,684


Page 6

 


INIGO BANKRUPTS ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025

6.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other creditors
119,935
183,787

119,935
183,787



7.


Ultimate controlling party

During the period there was a restructuring of the share capital where the 10,000 £0.01 shares were subdivided to result in 100,000 £0.001 shares at the balance sheet date.
The ultimate controlling party remains to be S N Mansell by virtue of his majority shareholding. 

 
Page 7