IRIS Accounts Production v23.3.0.418 SC618674 Board of Directors 1.2.22 31.1.23 31.1.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6186742022-01-31SC6186742023-01-31SC6186742022-02-012023-01-31SC6186742021-01-31SC6186742021-02-012022-01-31SC6186742022-01-31SC618674ns10:Originalns15:Scotland2022-02-012023-01-31SC618674ns14:PoundSterlingns10:Original2022-02-012023-01-31SC618674ns10:Originalns10:Director12022-02-012023-01-31SC618674ns10:Original2022-02-012023-01-31SC618674ns10:Original2023-01-31SC618674ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-31SC618674ns10:Originalns10:SmallEntities2022-02-012023-01-31SC618674ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-31SC618674ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-31SC618674ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-31SC618674ns10:Originalns10:FullAccounts2022-02-012023-01-31SC618674ns10:Original2021-02-012022-01-31SC618674ns10:Originalns10:Director22022-02-012023-01-31SC618674ns10:Originalns10:RegisteredOffice2022-02-012023-01-31SC618674ns10:Original2022-01-31SC618674ns10:Originalns5:CurrentFinancialInstruments2023-01-31SC618674ns10:Originalns5:CurrentFinancialInstruments2022-01-31SC618674ns5:ShareCapitalns10:Original2023-01-31SC618674ns5:ShareCapitalns10:Original2022-01-31SC618674ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-31SC618674ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-31SC618674ns10:Originalns5:MotorVehicles2022-02-012023-01-31SC618674ns10:Originalns5:ComputerEquipment2022-02-012023-01-31SC618674ns10:Originalns5:MotorVehicles2022-01-31SC618674ns10:Originalns5:ComputerEquipment2022-01-31SC618674ns10:Original2022-01-31SC618674ns10:Originalns5:MotorVehicles2023-01-31SC618674ns10:Originalns5:ComputerEquipment2023-01-31SC618674ns10:Originalns5:MotorVehicles2022-01-31SC618674ns10:Originalns5:ComputerEquipment2022-01-31SC618674ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC618674ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-31SC618674ns10:Original1ns10:Director12022-01-31SC618674ns10:Original1ns10:Director12021-01-31SC618674ns10:Original1ns10:Director12022-02-012023-01-31SC618674ns10:Original1ns10:Director12021-02-012022-01-31SC618674ns10:Original1ns10:Director12023-01-31SC618674ns10:Original1ns10:Director12022-01-31
REGISTERED NUMBER: SC618674 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

IASG Ltd

IASG Ltd (Registered number: SC618674)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IASG Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J F Gault
H J Gault





REGISTERED OFFICE: Bridgeview
39 Windhill Street
Stuartfield
Aberdeenshire
AB42 5DR





REGISTERED NUMBER: SC618674 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

IASG Ltd (Registered number: SC618674)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,644 5,569

CURRENT ASSETS
Debtors 5 22,543 8,829
Cash at bank 80,654 106,326
103,197 115,155
CREDITORS
Amounts falling due within one year 6 26,110 19,898
NET CURRENT ASSETS 77,087 95,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,731

100,826

PROVISIONS FOR LIABILITIES 5,252 1,058
NET ASSETS 99,479 99,768

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 99,469 99,758
99,479 99,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

IASG Ltd (Registered number: SC618674)

Balance Sheet - continued
31 January 2023


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 31 October 2023 and were signed on its behalf by:





J F Gault - Director


IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

IASG Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover represents the amounts (excluding value added tax) derived from the sale of goods to customers. Revenue is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.

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 NIL (2022 - NIL).

IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 9,900 283 10,183
Additions 34,640 2,483 37,123
Disposals (9,900 ) - (9,900 )
At 31 January 2023 34,640 2,766 37,406
DEPRECIATION
At 1 February 2022 4,331 283 4,614
Charge for year 8,660 819 9,479
Eliminated on disposal (4,331 ) - (4,331 )
At 31 January 2023 8,660 1,102 9,762
NET BOOK VALUE
At 31 January 2023 25,980 1,664 27,644
At 31 January 2022 5,569 - 5,569

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 21,447 8,829
Other debtors 1,096 -
22,543 8,829

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 10,936 5,169
Taxation and social security 11,210 10,587
Other creditors 3,964 4,142
26,110 19,898

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Outstanding credit - 277

A Fixed Charge exists in favour of the Royal Bank of Scotland PLC over any past, present or future obligations of the company.

IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
J F Gault
Balance outstanding at start of year - -
Amounts advanced 1,028 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,028 -