Company Registration No. 10466140 (England and Wales)
Ishango Limited
Unaudited accounts
for the year ended 30 November 2024
Ishango Limited
Unaudited accounts
Contents
Ishango Limited
Statement of financial position
as at 30 November 2024
Tangible assets
1,959
7,488
Cash at bank and in hand
172,561
15,303
Creditors: amounts falling due within one year
(521,256)
(444,051)
Net current (liabilities)/assets
(183,327)
17,522
Total assets less current liabilities
(181,318)
25,060
Creditors: amounts falling due after more than one year
(113,401)
(87,722)
Net liabilities
(294,719)
(62,662)
Called up share capital
430
700
Capital redemption reserve
270
-
Profit and loss account
(295,419)
(63,362)
Shareholders' funds
(294,719)
(62,662)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
Simon Bolderson
Director
Company Registration No. 10466140
Ishango Limited
Notes to the Accounts
for the year ended 30 November 2024
Ishango Limited is a private company, limited by shares, registered in England and Wales, registration number 10466140. The registered office is 22 ERGO BUSINESS PARK, KELVIN ROAD, SWINDON, SN3 3JW, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements have been prepared on a going concern basis. In forming this assessment, the directors have considered the company's financial position, including its significant deferred income balance. The directors expect the obligations represented by this deferred income to unwind over the normal course of business as the related services are delivered without requiring substantial additional cash outflows beyond those already planned.
In addition, the directors have received confirmation of ongoing support from its joint venture company who have indicated they do not intend to call in their short term debts in the foreseeable future.
The directors are therefore of the opinion that the company will have adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate for the financial statements to be prepared on this basis.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Ishango Limited
Notes to the Accounts
for the year ended 30 November 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 in other comprehensive income or directly in equity.
Current taxation is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the Balance Sheet date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Short-term debtors are measured at transaction price, less any impairment.
Jointly controlled entities
The company recognises its investments in jointly controlled entities using the cost model. The investments are measured at cost less any impairment losses.
Expenditure on research and development is written off in the year in which it is incurred.
Ishango Limited
Notes to the Accounts
for the year ended 30 November 2024
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Tangible fixed assets
Total
At 30 November 2024
17,390
At 30 November 2024
15,431
Allotted, called up and fully paid:
430 Ordinary shares (170 repurchased for £44,000 via a waiver against a debtor balance and cancelled) of £1 each
430
600
- Ordinary B shares (100 repurchased for £100 and cancelled) of £1 each
-
100
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amount to £11,213 (2023: £10,907).
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Average number of employees
During the year the average number of employees was 7 (2023: 10).