Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr I O'Connor 01/06/2015 Mr N W Offord 02/03/2021 Miss S M Willcock 02/03/2021 24 July 2024 The principal activity of the Company during the financial year was that of a consultation group. 07663033 2024-03-31 07663033 bus:Director1 2024-03-31 07663033 bus:Director2 2024-03-31 07663033 bus:Director3 2024-03-31 07663033 2023-03-31 07663033 core:CurrentFinancialInstruments 2024-03-31 07663033 core:CurrentFinancialInstruments 2023-03-31 07663033 core:Non-currentFinancialInstruments 2024-03-31 07663033 core:Non-currentFinancialInstruments 2023-03-31 07663033 core:RetainedEarningsAccumulatedLosses 2024-03-31 07663033 core:RetainedEarningsAccumulatedLosses 2023-03-31 07663033 core:ComputerSoftware 2023-03-31 07663033 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 07663033 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 07663033 core:ComputerSoftware 2024-03-31 07663033 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 07663033 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-03-31 07663033 2023-04-01 2024-03-31 07663033 bus:FilletedAccounts 2023-04-01 2024-03-31 07663033 bus:SmallEntities 2023-04-01 2024-03-31 07663033 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07663033 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 07663033 bus:Director1 2023-04-01 2024-03-31 07663033 bus:Director2 2023-04-01 2024-03-31 07663033 bus:Director3 2023-04-01 2024-03-31 07663033 core:ComputerSoftware core:TopRangeValue 2023-04-01 2024-03-31 07663033 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-04-01 2024-03-31 07663033 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-04-01 2024-03-31 07663033 2022-04-01 2023-03-31 07663033 core:ComputerSoftware 2023-04-01 2024-03-31 07663033 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 07663033 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 07663033 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 07663033 (England and Wales)

THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

BALANCE SHEET

As at 31 March 2024
THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,916 5,635
4,916 5,635
Current assets
Stocks 1,740 1,800
Debtors 4 68,249 33,928
Cash at bank and in hand 73,114 59,980
143,103 95,708
Creditors: amounts falling due within one year 5 ( 92,246) ( 62,987)
Net current assets 50,857 32,721
Total assets less current liabilities 55,773 38,356
Creditors: amounts falling due after more than one year 6 ( 6,884) ( 12,755)
Net assets 48,889 25,601
Reserves
Profit and loss account 48,889 25,601
Total reserves 48,889 25,601

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The International Jack Up Barge Operators' Association Limited (registered number: 07663033) were approved and authorised for issue by the Board of Directors on 24 July 2024. They were signed on its behalf by:

Mr N W Offord
Director
THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
THE INTERNATIONAL JACK UP BARGE OPERATORS' ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The International Jack Up Barge Operators' Association Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. Each of the member is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Shore Farm, Ash Street, Wrabness, Essex, CO11 2TG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Trademarks, patents and licences 10 years straight line
Website costs 5 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Computer software Trademarks, patents
and licences
Website costs Total
£ £ £ £
Cost
At 01 April 2023 3,500 0 6,611 10,111
Additions 0 1,320 0 1,320
At 31 March 2024 3,500 1,320 6,611 11,431
Accumulated amortisation
At 01 April 2023 1,938 0 2,538 4,476
Charge for the financial year 1,167 22 850 2,039
At 31 March 2024 3,105 22 3,388 6,515
Net book value
At 31 March 2024 395 1,298 3,223 4,916
At 31 March 2023 1,562 0 4,073 5,635

4. Debtors

2024 2023
£ £
Trade debtors 60,788 29,528
Other debtors 7,461 4,400
68,249 33,928

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,880 5,900
Trade creditors 25,880 10,487
Other taxation and social security 0 1,639
Other creditors 60,486 44,961
92,246 62,987

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,884 12,755

There are no amounts included above in respect of which any security has been given by the small entity.