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Company No: 15411552 (England and Wales)

IGUKRO LIMITED

Unaudited Financial Statements
For the financial period from 15 January 2024 to 31 December 2024
Pages for filing with the registrar

IGUKRO LIMITED

Unaudited Financial Statements

For the financial period from 15 January 2024 to 31 December 2024

Contents

IGUKRO LIMITED

BALANCE SHEET

As at 31 December 2024
IGUKRO LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024
£
Fixed assets
Tangible assets 3 111,292
111,292
Current assets
Debtors 4 49,632
Cash at bank and in hand 401,580
451,212
Creditors: amounts falling due within one year 5 ( 566,465)
Net current liabilities (115,253)
Total assets less current liabilities (3,961)
Net liabilities ( 3,961)
Capital and reserves
Called-up share capital 2
Profit and loss account ( 3,963 )
Total shareholders' deficit ( 3,961)

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of IGUKRO Limited (registered number: 15411552) were approved and authorised for issue by the Director on 05 July 2025. They were signed on its behalf by:

D G Sleigh
Director
IGUKRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 January 2024 to 31 December 2024
IGUKRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 January 2024 to 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

IGUKRO Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Perrymeade Blackmoor, West Buckland, Wellington, TA21 9LH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £3,961. The Company is supported through loans from its Shareholding Companies. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and its Shareholding Companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover from the sale of goods is stated net of VAT and is recognised at the fair value of consideration receivable. Turnover is recognised when goods have been physically delivered to the customer and risks and rewards have been transferred.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Defined contribution schemes

The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
15.01.2024 to
31.12.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 12

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 15 January 2024 0 0 0 0 0
Additions 91,081 2,781 21,863 7,688 123,413
At 31 December 2024 91,081 2,781 21,863 7,688 123,413
Accumulated depreciation
At 15 January 2024 0 0 0 0 0
Charge for the financial period 7,390 386 3,568 777 12,121
At 31 December 2024 7,390 386 3,568 777 12,121
Net book value
At 31 December 2024 83,691 2,395 18,295 6,911 111,292

4. Debtors

31.12.2024
£
Other debtors 49,632

5. Creditors: amounts falling due within one year

31.12.2024
£
Trade creditors 192,518
Amounts owed to associates 199,027
Other taxation and social security 57,898
Other creditors 117,022
566,465

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.12.2024
£
within one year 135,167
between one and five years 540,666
after five years 636,602
1,312,435

7. Related party transactions

Other related party transactions

During the year, the company received a loan from a 50% shareholder in the company, Iris Galerie SAS, which is interest free and repayable on demand. At the balance sheet date, the amount due included within amounts owed to associates was £98,828.

During the year, the company received a loan from a 50% shareholder in the company, Retail Oxygen Limited, which is interest free and repayable on demand. At the balance sheet date, the amount due included within amounts owed to associates was £100,199.