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Registered number: 11423430
IA CONSULTANCY LIMITED
Unaudited Financial Statements
For the Period 1 July 2023 to 31 March 2024
Durhams Accountants Limited
8 Yorkdale Drive
Hambleton
North Yorkshire
YO8 9YB
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Mr IMRAN AKHTAR
Company Number 11423430
Registered Office 51 INTAKE ROAD
BRADFORD
WEST YORKSHIRE
BD2 3NQ
Accountants Durhams Accountants Limited
8 Yorkdale Drive
Hambleton
North Yorkshire
YO8 9YB
Page 1
Page 2
Accountant's Report
In accordance with the engagement letter dated 21 June 2018, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at period ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
02/04/2024
Durhams Accountants Limited
8 Yorkdale Drive
Hambleton
North Yorkshire
YO8 9YB
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Page 3
Balance Sheet
Registered number: 11423430
31 March 2024 30 June 2023
Notes £ £ £ £
CURRENT ASSETS
Cash at bank and in hand 33,525 18,216
33,525 18,216
Creditors: Amounts Falling Due Within One Year 4 (9,960 ) (3,045 )
NET CURRENT ASSETS (LIABILITIES) 23,565 15,171
TOTAL ASSETS LESS CURRENT LIABILITIES 23,565 15,171
NET ASSETS 23,565 15,171
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account 23,555 15,161
SHAREHOLDERS' FUNDS 23,565 15,171
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr IMRAN AKHTAR
Director
02/04/2024
The notes on pages 4 to 5 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
IA CONSULTANCY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11423430 . The registered office is 51 INTAKE ROAD, BRADFORD, WEST YORKSHIRE, BD2 3NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the period was:
31 March 2024 30 June 2023
Office and administration 1 1
1 1
4. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 June 2023
£ £
Corporation tax 6,431 3,045
Director's loan account 3,529 -
9,960 3,045
5. Share Capital
31 March 2024 30 June 2023
Allotted, called up and fully paid £ £
10 Ordinary Shares of £ 1.00 each 10 10
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