Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse62023-03-24trueNo description of principal activity 14755303 2023-03-23 14755303 2023-03-24 2023-12-31 14755303 2022-03-24 2023-03-23 14755303 2023-12-31 14755303 c:Director2 2023-03-24 2023-12-31 14755303 d:CurrentFinancialInstruments 2023-12-31 14755303 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14755303 d:ShareCapital 2023-03-24 2023-12-31 14755303 d:ShareCapital 2023-12-31 14755303 d:RetainedEarningsAccumulatedLosses 2023-03-24 2023-12-31 14755303 d:RetainedEarningsAccumulatedLosses 2023-12-31 14755303 c:OrdinaryShareClass1 2023-03-24 2023-12-31 14755303 c:OrdinaryShareClass1 2023-12-31 14755303 c:FRS102 2023-03-24 2023-12-31 14755303 c:AuditExempt-NoAccountantsReport 2023-03-24 2023-12-31 14755303 c:FullAccounts 2023-03-24 2023-12-31 14755303 c:PrivateLimitedCompanyLtd 2023-03-24 2023-12-31 14755303 e:PoundSterling 2023-03-24 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14755303






IAB LCCI LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
IAB LCCI LIMITED
REGISTERED NUMBER: 14755303

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
  
11,499

Cash at bank and in hand
  
1,271

  
12,770

Creditors: amounts falling due within one year
  
(2,426)

Net current assets
  
 
 
10,344

Total assets less current liabilities
  
10,344

  

Net assets
  
10,344


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
 8 
10,343

  
10,344


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 February 2024.




J Jack
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 1

 
IAB LCCI LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period
-
10,343
10,343
Total comprehensive income for the period
-
10,343
10,343


Contributions by and distributions to owners

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 31 December 2023
1
10,343
10,344

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
IAB LCCI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
1.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
IAB LCCI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.


3.


Employees

The average monthly number of employees, including directors, during the period was 6.


4.


Debtors

2023
£


Trade debtors
700

Amounts owed by group undertakings
10,799

11,499


Page 4

 
IAB LCCI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
1,271

1,271



6.


Creditors: Amounts falling due within one year

2023
£

Corporation tax
2,426

2,426



7.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On incorporation, 1 Ordinary share of £1.00 was issued at par.


8.


Reserves

Profit and loss account

The profit and loss reserve is fully distributable.


9.


Controlling party

The ultimate controlling party is Institute of Accountants and Bookkeepers, a company incorporated in England and Wales.

 
Page 5