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REGISTERED NUMBER: 09471555 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

I K Piling Limited

I K Piling Limited (Registered number: 09471555)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


I K Piling Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S M King
I King
A J King





REGISTERED OFFICE: Haunchwood Park Industrial Est
Tunnel Road
Galley Common
Nuneaton
Warwickshire
CV10 9SP





REGISTERED NUMBER: 09471555 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

I K Piling Limited (Registered number: 09471555)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 14,416 19,771

CURRENT ASSETS
Debtors 5 - 263,159
Cash at bank 11,646 94,325
11,646 357,484
CREDITORS
Amounts falling due within one year 6 1,596 2,638
NET CURRENT ASSETS 10,050 354,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,466

374,617

CREDITORS
Amounts falling due after more than one
year

7

1,430,691

1,771,418
NET LIABILITIES (1,406,225 ) (1,396,801 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (1,406,425 ) (1,397,001 )
(1,406,225 ) (1,396,801 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





S M King - Director


I K Piling Limited (Registered number: 09471555)

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

1. STATUTORY INFORMATION

I K Piling Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.

The company has net liabilities of £1,406,225 and is reliant on the support of a connected party. The connected party has confirmed their support for the company will continue for at least the forthcoming year and the directors have therefore concluded that there are no material uncertainties about the company's ability to continue as a going concern and they are satisfied that the company has adequate resources to continue to meet its liabilities as they fall due and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Useful economic lives of tangible assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimates useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The net carrying value of tangible fixed assets is disclosed in the notes to the financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of the revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance


I K Piling Limited (Registered number: 09471555)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 75,594 3,897 79,491
DEPRECIATION
At 1 October 2023 57,261 2,459 59,720
Charge for year 5,121 234 5,355
At 30 September 2024 62,382 2,693 65,075
NET BOOK VALUE
At 30 September 2024 13,212 1,204 14,416
At 30 September 2023 18,333 1,438 19,771

5. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Other debtors - 90,000
VAT - 173,134
- 263,134

Amounts falling due after more than one year:
Directors' loan accounts - 25

Aggregate amounts - 263,159

I K Piling Limited (Registered number: 09471555)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 12 357
VAT 84 -
Accrued expenses 1,500 2,281
1,596 2,638

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 1,430,691 1,751,650
Directors' loan accounts - 19,768
1,430,691 1,771,418

8. RELATED PARTY DISCLOSURES

Other related parties

Purchases from other related parties, transfers and amounts due from and to other related parties,

2024 2023

Amount due from related party - 90,000
Amount due to related party 1,430,691 1,751,650