Ikonmac Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07282321 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Ikonmac Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms M K Buchholc

J Xing

C Lawes

SECRETARY:

REGISTERED OFFICE:

Blue House Farm Office

Brentwood Road

West Horndon

Essex

CM13 3LX

REGISTERED NUMBER:

07282321 (England and Wales)

ACCOUNTANTS:

The Randall's Partnership Ltd

Chartered Accountants

Blue House Farm Office

Brentwood Road

West Horndon

Essex

CM13 3LX

FIXED ASSETS

Tangible assets

4

26,617

-

CURRENT ASSETS

Debtors

5

74,951

100,672

Cash at bank

14,887

7,210

89,838

107,882

CREDITORS

Amounts falling due within one year

6

79,755

61,702

NET CURRENT ASSETS

10,083

46,180

TOTAL ASSETS LESS CURRENT LIABILITIES

36,700

46,180

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

36,600

46,080

SHAREHOLDERS' FUNDS

36,700

46,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 18 February 2020 and were signed on its behalf by:

C Lawes - Director

1.	STATUTORY INFORMATION

Ikonmac Ltd 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 represents the value of sales to customers, net of discounts, allowances, volume

and promotional rebates and other payments to customers and excludes VAT. Sale of

goods are recognised when the company has delivered product to the customer, the

customer has accepted the products and collectability of the related receivable is reasonably

assured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

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 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

26,617

At 30 June 2019

26,617

NET BOOK VALUE

At 30 June 2019

26,617

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

64,893

92,876

Other debtors

10,058

7,796

74,951

100,672

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

42,592

48,528

Taxation and social security

-

5,403

Other creditors

37,163

7,771

79,755

61,702

7.	RELATED PARTY DISCLOSURES

The company is controlled by the director C Lawes by virtues of his 70% shareholding.