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Company Registration No. 10922088 (England and Wales)
IAB Accountants Limited Unaudited accounts for the year ended 31 August 2023
IAB Accountants Limited Unaudited accounts Contents
Page
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IAB Accountants Limited Company Information for the year ended 31 August 2023
Director
Israr Ahmed Butt
Company Number
10922088 (England and Wales)
Registered Office
200 Selbourne Road Luton Bedfordshire LU4 8LT England
Accountants
IAB Accountants Limited 200 Selbourne Road Luton Bedfordshire LU4 8LT
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of IAB Accountants Limited for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IAB Accountants Limited for the year ended 31 August 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
IAB Accountants Limited Chartered Certified Accountants 200 Selbourne Road Luton Bedfordshire LU4 8LT 30 August 2024
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IAB Accountants Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
23,253 
29,193 
Cash at bank and in hand
1,804 
555 
25,057 
29,748 
Creditors: amounts falling due within one year
(10,106)
(14,366)
Net current assets
14,951 
15,382 
Total assets less current liabilities
14,951 
15,382 
Creditors: amounts falling due after more than one year
(13,125)
(15,069)
Net assets
1,826 
313 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,726 
213 
Shareholders' funds
1,826 
313 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 August 2024 and were signed on its behalf by
Israr Ahmed Butt Director Company Registration No. 10922088
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IAB Accountants Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
IAB Accountants Limited is a private company, limited by shares, registered in England and Wales, registration number 10922088. The registered office is 200 Selbourne Road, Luton, Bedfordshire, LU4 8LT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared in accordance with the provision of FRS102 Section 1A Small Entities. There were no material departures from the standard.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,242 
10,871 
Other debtors
10,011 
18,322 
23,253 
29,193 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,979 
1,067 
Taxes and social security
6,577 
7,809 
Deferred income
1,550 
5,490 
10,106 
14,366 
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IAB Accountants Limited Notes to the Accounts for the year ended 31 August 2023
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
13,125 
15,069 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Controlling party
The ultimate controlling party is Israr Ahmed Butt.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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