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REGISTERED NUMBER: 08385733 (England and Wales)










Independence Assured Limited

Unaudited Financial Statements

for the Year Ended 28 February 2023






Independence Assured Limited (Registered number: 08385733)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Independence Assured Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: M Weston





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 08385733 (England and Wales)

Independence Assured Limited (Registered number: 08385733)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 33,431 39,588

CURRENT ASSETS
Debtors 5 257,264 324,726
Cash at bank 79,698 93,009
336,962 417,735
CREDITORS
Amounts falling due within one year 6 (148,575 ) (183,715 )
NET CURRENT ASSETS 188,387 234,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,818

273,608

CREDITORS
Amounts falling due after more than one year 7 (18,324 ) (23,940 )
NET ASSETS 203,494 249,668

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 203,493 249,667
SHAREHOLDERS' FUNDS 203,494 249,668

Independence Assured Limited (Registered number: 08385733)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 director and authorised for issue on 24 November 2023 and were signed by:





M Weston - Director


Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is pound sterling.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Office equipment20% Reducing Balance Basis
Computer equipment20% Reducing Balance Basis


Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset classAmortisation method and rate
Goodwill10 year straight line basis

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS 102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the
instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using th effective interest method.

TAX
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 5,403 37,880 14,394 57,677
Additions 165 - 1,719 1,884
At 28 February 2023 5,568 37,880 16,113 59,561
DEPRECIATION
At 1 March 2022 3,498 5,682 8,909 18,089
Charge for year 398 6,440 1,203 8,041
At 28 February 2023 3,896 12,122 10,112 26,130
NET BOOK VALUE
At 28 February 2023 1,672 25,758 6,001 33,431
At 28 February 2022 1,905 32,198 5,485 39,588

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,964 67,512
Other loans 41,561 41,561
Amounts owed by group undertakings 94,811 117,260
Directors' current accounts 48,928 78,101
Prepayments - 20,292
257,264 324,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,854 -
Other loans 33,064 42,682
Hire purchase contracts 5,578 4,834
Purchase ledger control account 628 10,866
Corporation tax liability 31,705 53,103
Social security and other tax 5,674 1,708
Other creditors 63,968 60,400
Other creditors - 3,354
Accruals 4,104 6,768
148,575 183,715

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 18,324 23,940

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary shares £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
M Weston
Balance outstanding at start of year 78,101 85,409
Amounts advanced 239,127 338,413
Amounts repaid (268,300 ) (345,721 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,928 78,101

10. RELATED PARTY DISCLOSURES

The company advanced an interest free loan of £41,561 to Wes7N Limited, a company of which a director and shareholder is also a director and shareholder. The loan is not secured and does not have fixed repayment terms. The loan has been included within current assets.