Ikconect Ltd

Ikconect Ltd is a small, active company based in London, UK, founded four years ago in July 2020. It operates as an e-commerce site and has £3,655 in assets, managed by a single director and owner. The company’s registered address is a virtual one, shared by 28,865 other businesses, which is a little strange.

The company’s activities include acting as agents selling various goods, wholesale of household goods, retail sales via mail order and internet, and manufacturing consumer electronics. It’s a small company, meeting two of three conditions: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees. Ikeji Colin owns and directs the company, and the ownership list was changed eight months ago.

Looking at the financials, Ikconect Ltd’s current assets have decreased by 34% to £3,700, and net assets have fallen by a significant 63% to -£5,000. Cash in the bank, however, has increased by 70% to £1,900 – a positive sign. Bank borrowings remain steady at £8,600, and creditors are unchanged at £8,600. The company’s trade debtors have increased, which could mean they’re extending credit to customers, or perhaps customers are taking longer to pay. It's a bit concerning that the company is operating at a loss, but the increase in cash suggests they might be managing their expenses well. There's no auditor mentioned, which is common for small companies.

The accounts are described as “filleted,” meaning they’re simplified and unaudited, and were prepared using Taxfiler software. The company's accounts are presented in pounds sterling and prepared in accordance with FRS 102 Section 1A. Overall, Ikconect Ltd seems to be navigating a challenging financial landscape, but the increase in cash reserves offers a glimmer of hope.

Registered in England/Wales under the registration number 12723544, with a registered address at N1 7GU, England, London, 20-22 Wenlock Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.