Initial C Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10867757

Initial C Limited

Filleted Unaudited Financial Statements

31 July 2025

Initial C Limited

Statement of Financial Position

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		4,644	1,322

Current assets

Cash at bank and in hand	11,638		229

Creditors: amounts falling due within one year	6	14,900		18,828
		--------		--------
Net current liabilities			3,262	18,599
			-------	--------
Total assets less current liabilities			1,382	( 17,277)

Creditors: amounts falling due after more than one year	7		1,911	–

Provisions

Taxation including deferred tax	559	–
	-------	--------
Net liabilities	( 1,088)	( 17,277)
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Capital and reserves

Called up share capital	100	100
Profit and loss account	( 1,188)	( 17,377)
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Shareholders deficit	( 1,088)	( 17,277)
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Initial C Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Mr T R Yarde

Director

Company registration number: 10867757

Initial C Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis since the shareholders and principal creditors have let it be known that they will financially support the company and meet any operational liabilities as and when they fall due to the extent that the capacity and resources to do so continues to be available to them.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Equipment	-	25% straight line

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 August 2024	643	9,825	10,468
Additions	–	4,200	4,200
	----	--------	--------
At 31 July 2025	643	14,025	14,668
	----	--------	--------
Depreciation
At 1 August 2024	326	8,820	9,146
Charge for the year	121	757	878
	----	--------	--------
At 31 July 2025	447	9,577	10,024
	----	--------	--------
Carrying amount
At 31 July 2025	196	4,448	4,644
	----	--------	--------
At 31 July 2024	317	1,005	1,322
	----	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	173	–
Other creditors	14,727	18,828
	--------	--------
	14,900	18,828
	--------	--------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	1,911	–
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