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
IAB Accountants Limited
Company Information
for the year ended 31 August 2023
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
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
IAB Accountants Limited
Statement of financial position
as at 31 August 2023
Cash at bank and in hand
1,804
555
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)
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
IAB Accountants Limited
Notes to the Accounts
for the year ended 31 August 2023
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.
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.
The accounts have been prepared in accordance with the provision of FRS102 Section 1A Small Entities. There were no material departures from the standard.
The accounts are presented in £ sterling.
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 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.
Amounts falling due within one year
Trade debtors
13,242
10,871
Other debtors
10,011
18,322
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
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
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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).