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REGISTERED NUMBER: 07495743 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2025

for

Ibank Limited
Ibank Limited (Registered number: 07495743)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Report of the Accountant 2

Statement of Financial Position 3

Notes to the Financial Statements 4


Ibank Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: Mr S Bhandari





REGISTERED OFFICE: 724 Capability Green
Luton
Bedfordshire
LU1 3LU





REGISTERED NUMBER: 07495743 (England and Wales)





ACCOUNTANT: Albacore Accounting Limited
The Maylands Building
Maylands Avenue
Hemel Hempstead
Hertfordshire
HP2 7TG
Page 1
Ibank Limited

Report of the Accountant to the Director of
Ibank Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 January 2025 set out on pages three to four and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.






Albacore Accounting Limited
The Maylands Building
Maylands Avenue
Hemel Hempstead
Hertfordshire
HP2 7TG


Date: .............................................

This page does not form part of the statutory financial statements

Page 2
Ibank Limited (Registered number: 07495743)

Statement of Financial Position
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,735 78,444
Investments 5 220,775 220,775
276,510 299,219

CURRENT ASSETS
Debtors 6 163,999 123,458
Cash at bank 2,081,627 2,105,256
2,245,626 2,228,714
CREDITORS
Amounts falling due within one year 7 471,914 747,605
NET CURRENT ASSETS 1,773,712 1,481,109
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,050,222
1,780,328

CAPITAL AND RESERVES
Called up share capital 8 160 160
Retained earnings 9 2,050,062 1,780,168
SHAREHOLDERS' FUNDS 2,050,222 1,780,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

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 30 October 2025 and were signed by:





Mr S Bhandari - Director


The notes form part of these financial statements

Page 3
Ibank Limited (Registered number: 07495743)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Ibank Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2024 33,853 159,292 39,764 232,909
Additions 2,471 - 6,256 8,727
At 31 January 2025 36,324 159,292 46,020 241,636
DEPRECIATION
At 1 February 2024 26,822 95,667 31,976 154,465
Charge for year 4,748 21,208 5,480 31,436
At 31 January 2025 31,570 116,875 37,456 185,901
NET BOOK VALUE
At 31 January 2025 4,754 42,417 8,564 55,735
At 31 January 2024 7,031 63,625 7,788 78,444

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.1.25 31.1.24
£    £   
Investments 220,775 220,775

Page 4 continued...
Ibank Limited (Registered number: 07495743)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 47,898 93,366
Other debtors 112,538 25,878
VAT 3,563 4,214
163,999 123,458

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade creditors 62,364 117,076
Tax 127,209 286,038
Social security and other taxes 48,770 24,198
Pension Payable 4,302 50,680
Directors' current accounts 4,714 12,401
Deferred income 224,555 257,212
471,914 747,605

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
2 Ordinary £1 160 160

9. RESERVES
Retained
earnings
£   

At 1 February 2024 1,780,168
Profit for the year 354,894
Dividends (85,000 )
At 31 January 2025 2,050,062

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Bhandari.

Page 5