Company No:
Contents
| Note | 31.12.2024 | |
| £ | ||
| Fixed assets | ||
| Tangible assets | 3 |
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| 111,292 | ||
| Current assets | ||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 451,212 | ||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (115,253) | |
| Total assets less current liabilities | (3,961) | |
| Net liabilities | (
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| Capital and reserves | ||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of IGUKRO Limited (registered number:
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D G Sleigh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
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.
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.
| Land and buildings |
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| Plant and machinery |
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| Fixtures and fittings |
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| Computer equipment |
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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.
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.
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.
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.
| Period from 15.01.2024 to 31.12.2024 |
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| Monthly average number of persons employed by the Company during the period, including the director |
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| Land and buildings | Plant and machinery | Fixtures and fittings | Computer equipment | Total | |||||
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| Cost | |||||||||
| At 15 January 2024 |
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| At 31 December 2024 |
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| Accumulated depreciation | |||||||||
| At 15 January 2024 |
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| Charge for the financial period |
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| At 31 December 2024 |
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| Net book value | |||||||||
| At 31 December 2024 |
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| 31.12.2024 | |
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| Other debtors |
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| 31.12.2024 | |
| £ | |
| Trade creditors |
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| Amounts owed to associates |
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| Other taxation and social security |
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| Other creditors |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 31.12.2024 | |
| £ | |
| within one year |
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| between one and five years |
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| after five years |
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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.