One Iota Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07118675 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ONE IOTA LIMITED

Page

Company Information

1

Report of the Director

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

C R Brooks

REGISTERED OFFICE:

Office 4

Trafalgar House

110 Manchester Road

Altrincham

Cheshire

WA14 1NU

REGISTERED NUMBER:

07118675 (England and Wales)

ACCOUNTANTS:

E M Accountancy Limited

Office 4

Trafalgar House

110 Manchester Road

Altrincham

Cheshire

WA14 1NU

The director presents his report with the financial statements of the company for the year ended 30 June 2023.

.

DIRECTOR

C R Brooks held office during the whole of the period from 1 July 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C R Brooks - Director

4 December 2023

FIXED ASSETS

Intangible assets

4

225,000

237,500

Tangible assets

5

12,965

14,304

237,965

251,804

CURRENT ASSETS

Debtors

113,404

144,189

Cash at bank

1,211,946

707,548

1,325,350

851,737

CREDITORS

Amounts falling due within one year

358,672

229,977

NET CURRENT ASSETS

966,678

621,760

TOTAL ASSETS LESS CURRENT LIABILITIES

1,204,643

873,564

CREDITORS

Amounts falling due after more than one year

(22,388

)

(32,094

)

PROVISIONS FOR LIABILITIES

(1,846

)

(1,846

)

NET ASSETS

1,180,409

839,624

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

6

250,000

250,000

Retained earnings

920,409

579,624

1,180,409

839,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 December 2023 and were signed by:

C R Brooks - Director

1.	STATUTORY INFORMATION

One Iota 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Development costs are being amortised evenly over their estimated useful life of twenty years.

Intangible assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value

of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount.

Intangible assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased..

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

-

33% on cost and 20% on cost

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.

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 17 (2022 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2022

and 30 June 2023

2,012,084

AMORTISATION

At 1 July 2022

1,774,584

Amortisation for year

12,500

At 30 June 2023

1,787,084

NET BOOK VALUE

At 30 June 2023

225,000

At 30 June 2022

237,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2022

207,440

Additions

6,221

At 30 June 2023

213,661

DEPRECIATION

At 1 July 2022

193,136

Charge for year

7,560

At 30 June 2023

200,696

NET BOOK VALUE

At 30 June 2023

12,965

At 30 June 2022

14,304

6.

RESERVES

Revaluation

reserve

£

At 1 July 2022

and 30 June 2023

250,000