iso4217:GBP xbrli:pure xbrli:shares iso4217:GBP xbrli:shares SC365651 2025-06-30 SC365651 2024-06-30 SC365651 2024-07-01 2025-06-30 SC365651 2023-07-01 2024-06-30 SC365651 bus:Director1 2024-07-01 2025-06-30 SC365651 bus:SmallEntities 2024-07-01 2025-06-30 SC365651 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 SC365651 bus:FilletedAccounts 2024-07-01 2025-06-30 SC365651 bus:Director1 2024-07-01 2025-06-30 SC365651 2024-07-01 2025-06-30 SC365651 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30
1
INDABA LIMITED
Registration Number SC365651 (Scotland)
Filleted Unaudited Financial Statements
For the year ended 30 June 2025
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
BALANCE SHEET
Notes
2025 £
2024 £
Fixed assets
Intangible assets
3
5,572
11,588
Tangible assets
4
388
1,108
Investments
5
201,179
8,696
207,139
21,392
Current assets
Stock
5,924
10,183
Debtors
6
50,386
27,658
Cash at bank and in hand
202,190
456,421
258,500
494,262
Current liabilities
Creditors: amounts falling due within one year
7
148,002
166,304
Net current assets
110,498
327,958
Total assets less current liabilities
317,637
349,350
Net assets
317,637
349,350
Capital and reserves
Called up share capital
9
477
477
Share premium account
9
948,458
948,458
Profit and loss account
(631,298)
(599,585)
Shareholder's funds
317,637
349,350
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
For the year ended 30 June 2025, 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 of its accounts for the year ended 30 June 2025 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements were approved and authorised for issue by the Board of Directors on 13 January 2026.
Signed on behalf of the Board of Directors
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
BALANCE SHEET
_______________________
K J Steele
The notes on pages preview to update form part of these accounts.
Company registration number: SC365651
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
1.
Summary of significant accounting policies
1.1
General information and basis of preparation
Indaba Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number are as below:
61 Dublin Street
Edinburgh
EH3 6NL
These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.
The nature of the company's operations and principal activities are principal activity during the year was provision of yoga classes and other activities including health treatments.
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 profitor loss.
The financial statements are prepared in sterling (£) which is the functional currency of the company and rounded to the nearest £.
Going Concern
The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. On this basis the director continues to adopt the going concern basis of accounting in preparing these financial statements.
1.2
Intangible assets
Intangible assets acquired separately from a business are capitalised at cost. Intangible assets acquired on business combinations are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition.
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:
Intangible type
Useful life
Website development
Over five years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Asset class
Useful life / depreciation rate
Plant and machinery
Over four years
Fixtures and fittings
Over the term of the lease
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
1.5
Financial instruments
The Company has chosen to adopt Section 11 of FRS102 in respect of financial instruments.
Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Investments in joint ventures / associates are measured at cost less impairment.
Other financial assets
Other financial assets, including trade debtors for goods sold to customers on short-term credit, are initially measured at the transaction price including transaction costs, and are subsequently measured at the transaction price plus transaction costs not yet recognised, cumulative interest income less repayments and impairment, where there is evidence of impairment.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Staff numbers
The average number of persons employed by the Company (including directors) during the year, was 9 (2024 - 9).
Other financial liabilities
Other financial liabilities, including trade creditors, are initially measured at transaction price less transaction costs, and are subsequently measured at the transaction price less transaction costs not yet recognised in profit or loss and repayments plus cumulative interest expenses incurred.
1.6
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Where the circumstances causing an impairment of an asset, other than goodwill, no longer apply, then the impairment is reversed through the profit and loss account. An impairment loss recognised for goodwill is not reversed in subsequent periods.
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
1.7
Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
1.8
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.9
Turnover and other income
Turnover represents the value of the goods and services supplied by the company, excluding value added tax. Turnover is recognised when the company has earned entitlement. In respect of class packages which span the year end, deferred income is calculated on the basis of either time (if the packages are for a specific length of time) or classes outstanding (if the package is for a specific number of classes).
2.
Operating loss
Operating loss is stated after charging / (crediting):
2025 £
2024 £
Depreciation of tangible fixed assets
1,110
12,506
Amortisation of intangible fixed assets
6,016
6,016
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
3.
Intangible fixed assets
Reconciliation of changes in intangible assets
Website development £
Cost
At 01 July 2024
30,080
At 30 June 2025
30,080
Amortisation
At 01 July 2024
(18,492)
Amortisation
(6,016)
At 30 June 2025
(24,508)
Net book value
At 01 July 2024
11,588
At 30 June 2025
5,572
4.
Tangible assets
Balances at year end and movements for the year
Plant and machinery £
Fixtures and fittings £
Total £
Cost
At 01 July 2024
41,305
671,948
713,253
Additions
389
-
389
At 30 June 2025
41,694
671,948
713,642
Depreciation
At 01 July 2024
(40,197)
(671,948)
(712,145)
Charge for the year
(1,110)
-
(1,110)
At 30 June 2025
(41,307)
(671,948)
(713,255)
Net book value
At 01 July 2024
1,108
-
1,108
At 30 June 2025
387
-
387
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
5.
Investments
Movement in investments
Other investments other than loans £
Cost or valuation
At 01 July 2024
8,696
Additions
192,483
At 30 June 2025
201,179
Impairment
At 30 June 2025
-
Carrying amount
At 30 June 2024
8,696
At 30 June 2025
201,179
6.
Debtors
Debtors comprise:
2025 £
2024 £
Amounts falling due within one year
Trade debtors
760
300
Other debtors
49,626
27,358
50,386
27,658
7.
Creditors: amounts falling due within one year
Creditors: amounts falling due within one year comprise:
2025 £
2024 £
Trade creditors
59,684
32,473
Social security and other taxes
19,398
17,875
Accruals
10,122
58,393
Deferred income
58,798
57,563
148,002
166,304
Deferred income comprises payments received in respect of block bookings or packages of classes where the client had not fully utilised their pre-paid classes at the year end. The cost to the company of providing the classes is considerably less than the income deferred, however the company has accounted for the income on a prudent basis in line with its accounting policy.
8.
Deferred tax
The company has an unrecognised deferred tax asset of £96,668 (2024: £87,260) which has arisen from fixed asset timing differences and losses carried forward. Its recoverability is dependent upon future taxable profits arising, the likelihood of which cannot at this stage be determined with reasonable certainty.
INDABA LIMITED
Financial Statements for the year ended 30 June 2025
NOTES TO THE FINANCIAL STATEMENTS
9.
Called up share capital
Alloted, called up and fully paid
2025 £
2024 £
477 Ordinary shares of £1 each
477
477
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025 £
2024 £
Not later than 1 year
31,125
41,500
Later than 1 year and not later than 5 years
-
31,125
31,125
72,625
Appendix - Additional XBRL Tags and Values
Accounting standards applied
bus_SmallEntities
Accounts status, audited or unaudited
bus_AuditExemptWithAccountantsReport
Accounts type
bus_FilletedAccounts
Average number of employees during the period
9
Average number of employees during the period
9
Balance sheet date
30 June 2025
Date of auditor's report
0001-01-01
Date of authorisation of financial statements for issue
13 January 2026
Director signing Directors' Report
bus_Director1
Director signing financial statements
bus_Director1
End date for period covered by report
30 June 2025
Entity current legal or registered name
Indaba Limited
Entity is dormant [true/false]
false
Entity trading status
[default]
Legal form of entity
bus_PrivateLimitedCompanyLtd
Name of entity auditors
CT
Name of entity officer
K J Steele
Name of individual auditor
CT
Name of production software
Draftworx Cloud
Start date for period covered by report
01 July 2024
UK Companies House registered number
SC365651