IRIS Accounts Production v25.1.4.42 SC309422 director 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3094222023-09-30SC3094222024-09-30SC3094222023-10-012024-09-30SC3094222022-03-31SC3094222022-04-012023-09-30SC3094222023-09-30SC309422ns15:Scotland2023-10-012024-09-30SC309422ns14:PoundSterling2023-10-012024-09-30SC309422ns10:Director12023-10-012024-09-30SC309422ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC309422ns10:SmallEntities2023-10-012024-09-30SC309422ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC309422ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC309422ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC309422ns10:FullAccounts2023-10-012024-09-30SC30942212023-10-012024-09-30SC309422ns5:CurrentFinancialInstruments2024-09-30SC309422ns5:CurrentFinancialInstruments2023-09-30SC309422ns5:ShareCapital2024-09-30SC309422ns5:ShareCapital2023-09-30SC309422ns5:RevaluationReserve2024-09-30SC309422ns5:RevaluationReserve2023-09-30SC309422ns5:RetainedEarningsAccumulatedLosses2024-09-30SC309422ns5:RetainedEarningsAccumulatedLosses2023-09-30SC309422ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-30SC309422ns5:ComputerSoftware2023-10-012024-09-30SC309422ns5:PlantMachinery2023-10-012024-09-30SC309422ns5:IntangibleAssetsOtherThanGoodwill2023-09-30SC309422ns5:IntangibleAssetsOtherThanGoodwill2024-09-30SC309422ns5:IntangibleAssetsOtherThanGoodwill2023-09-30SC309422ns5:PlantMachinery2023-09-30SC309422ns5:PlantMachinery2024-09-30SC309422ns5:PlantMachinery2023-09-30SC309422ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC309422ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30
REGISTERED NUMBER: SC309422 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

IKM Visual Solutions Ltd

IKM Visual Solutions Ltd (Registered number: SC309422)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


IKM Visual Solutions Ltd (Registered number: SC309422)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 142,200 142,200
Tangible assets 5 679 1,001
142,879 143,201

CURRENT ASSETS
Debtors 6 1,899 1,899
Cash at bank 13,618 14,808
15,517 16,707
CREDITORS
Amounts falling due within one year 7 (31,321 ) (30,266 )
NET CURRENT LIABILITIES (15,804 ) (13,559 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,075

129,642

PROVISIONS FOR LIABILITIES - (1,107 )
NET ASSETS 127,075 128,535

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 138,431 138,431
Retained earnings (12,356 ) (10,896 )
127,075 128,535

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 director acknowledges his 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.

IKM Visual Solutions Ltd (Registered number: SC309422)

Balance Sheet - continued
30 September 2024


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 director and authorised for issue on 24 June 2025 and were signed by:





Mr I K Maclachlan - Director


IKM Visual Solutions Ltd (Registered number: SC309422)

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

1. STATUTORY INFORMATION

IKM Visual Solutions Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC309422. The registered office is Park House, 39 Bo'ness Road, Grangemouth, FK3 8AN.

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 as modified by the revaluation of certain assets.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Computer software
The directors believe that as the computer software is under continual development, the asset is increasing in value and it is not appropriate to process amortisation.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 33% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

IKM Visual Solutions Ltd (Registered number: SC309422)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 142,200
NET BOOK VALUE
At 30 September 2024 142,200
At 30 September 2023 142,200

Cost or valuation at 30 September 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2013 9,000
Valuation in 2014 36,000
Valuation in 2015 19,200
Valuation in 2016 78,000
142,200

IKM Visual Solutions Ltd (Registered number: SC309422)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 48,249
DEPRECIATION
At 1 October 2023 47,248
Charge for year 322
At 30 September 2024 47,570
NET BOOK VALUE
At 30 September 2024 679
At 30 September 2023 1,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 1,899 1,899

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 3,381 -
Amounts owed to related parties 3,560 3,560
Other creditors 24,380 26,706
31,321 30,266

8. RELATED PARTY DISCLOSURES

At the year end, £3,560 was due to related parties (2023: £23,560).