IINKAI Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06804753 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

IINKAI Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D A Edmonds

Mrs L Edmonds

T Haynes

REGISTERED OFFICE:

Unit 11, Diddenham Business Park

Diddenham Court, Lambwood Hill

Grazeley

Reading

Berkshire

RG7 1JQ

REGISTERED NUMBER:

06804753 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Bus Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

CURRENT ASSETS

Debtors

6

4,611

9,116

Prepayments and accrued income

-

2,352

Cash at bank

2,899

6,658

7,510

18,126

CREDITORS

Amounts falling due within one year

7

3,737

17,930

NET CURRENT ASSETS

3,773

196

TOTAL ASSETS LESS CURRENT LIABILITIES

3,773

196

CREDITORS

Amounts falling due after more than one year

8

16,667

-

NET (LIABILITIES)/ASSETS

(12,894

)

196

CAPITAL AND RESERVES

Called up share capital

398

102

Retained earnings

(13,292

)

94

SHAREHOLDERS' FUNDS

(12,894

)

196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

D A Edmonds - Director

1.	STATUTORY INFORMATION

IINKAI 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.

Revenue is recognised as the contractual activity progresses

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern

The directors have confirmed that they will continue to give financial support to the company until such time as the company's position improves. In addition the directors have confirmed that they will not recall any loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

80,000

AMORTISATION

At 1 April 2020

and 31 March 2021

80,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

651

DEPRECIATION

At 1 April 2020

and 31 March 2021

651

NET BOOK VALUE

At 31 March 2021

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

2,052

8,669

Other debtors

2,559

447

4,611

9,116

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

-

1,300

Taxation and social security

-

16,490

Other creditors

3,737

140

3,737

17,930

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

16,667

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

Mrs L Edmonds and D A Edmonds

Balance outstanding at start of year

-

11,557

Amounts repaid

-

(11,557

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

T Haynes

Balance outstanding at start of year

2,559

-

Amounts advanced

-

2,559

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,559

2,559

Director current account repaid within 9 months of year end.