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Company Registration No. 00723472 (England and Wales)
International Advertising Association United KingdomChapter Limited Unaudited accounts for the year ended 31 December 2023
International Advertising Association United KingdomChapter Limited Unaudited accounts Contents
Page
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International Advertising Association United KingdomChapter Limited Company Information for the year ended 31 December 2023
Director
Mrs K Giordani
Company Number
00723472 (England and Wales)
Registered Office
Albany House Claremont Lane Esher Surrey KT10 9FQ
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of International Advertising Association United KingdomChapter Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of International Advertising Association United KingdomChapter Limited for the year ended 31 December 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Wellden Turnbull Limited Chartered Accountants Albany House Claremont Lane Esher Surrey KT10 9FQ 20 September 2024
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International Advertising Association United KingdomChapter Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
366 
520 
Tangible assets
3,073 
1,546 
3,439 
2,066 
Current assets
Debtors
197,092 
82,733 
Cash at bank and in hand
323,055 
314,660 
520,147 
397,393 
Creditors: amounts falling due within one year
(119,656)
(71,748)
Net current assets
400,491 
325,645 
Net assets
403,930 
327,711 
Reserves
Profit and loss account
403,930 
327,711 
Members' funds
403,930 
327,711 
For the year ending 31 December 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 20 September 2024 and were signed on its behalf by
Mrs K Giordani Director Company Registration No. 00723472
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International Advertising Association United KingdomChapter Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
International Advertising Association United KingdomChapter Limited is a private company, limited by guarantee, registered in England and Wales, registration number 00723472. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Presentation currency
The accounts are presented in sterling, which is the functional currency of the Company and rounded to the nearest £.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. 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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. 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 taxable income.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Amortisation is provided on the following basis: Website development costs- 25% straight line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
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International Advertising Association United KingdomChapter Limited Notes to the Accounts for the year ended 31 December 2023
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
14,415 
At 31 December 2023
14,415 
Amortisation
At 1 January 2023
13,895 
Charge for the year
154 
At 31 December 2023
14,049 
Net book value
At 31 December 2023
366 
At 31 December 2022
520 
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International Advertising Association United KingdomChapter Limited Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
230 
3,690 
3,920 
Additions
- 
2,207 
2,207 
Disposals
- 
(659)
(659)
At 31 December 2023
230 
5,238 
5,468 
Depreciation
At 1 January 2023
53 
2,321 
2,374 
Charge for the year
58 
622 
680 
On disposals
- 
(659)
(659)
At 31 December 2023
111 
2,284 
2,395 
Net book value
At 31 December 2023
119 
2,954 
3,073 
At 31 December 2022
177 
1,369 
1,546 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
183,650 
67,544 
Accrued income and prepayments
13,442 
15,189 
197,092 
82,733 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,718 
235 
Taxes and social security
45,387 
29,569 
Other creditors
768 
559 
Accruals
1,335 
1,210 
Deferred income
70,448 
40,175 
119,656 
71,748 
8
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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