I A P A 05166917 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a worldwide association of professional advisors. Digita Accounts Production Advanced 6.30.9574.0 true true 05166917 2023-01-01 2023-12-31 05166917 2023-12-31 05166917 core:CurrentFinancialInstruments 2023-12-31 05166917 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05166917 core:FurnitureFittingsToolsEquipment 2023-12-31 05166917 bus:SmallEntities 2023-01-01 2023-12-31 05166917 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05166917 bus:FilletedAccounts 2023-01-01 2023-12-31 05166917 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05166917 bus:RegisteredOffice 2023-01-01 2023-12-31 05166917 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 05166917 bus:Director2 2023-01-01 2023-12-31 05166917 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 05166917 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05166917 core:OfficeEquipment 2023-01-01 2023-12-31 05166917 countries:EnglandWales 2023-01-01 2023-12-31 05166917 2022-12-31 05166917 core:FurnitureFittingsToolsEquipment 2022-12-31 05166917 2022-01-01 2022-12-31 05166917 2022-12-31 05166917 core:CurrentFinancialInstruments 2022-12-31 05166917 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05166917

I A P A

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

I A P A

(Registration number: 05166917)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

£551

-

Current assets

 

Debtors

5

£285,247

£11,804

Cash at bank and in hand

 

£534,408

£428,558

 

£819,655

£440,362

Creditors: Amounts falling due within one year

6

386,132)

71,324)

Net current assets

 

£433,523

£369,038

Net assets

 

£434,074

£369,038

Reserves

 

Retained earnings

£434,074

£369,038

Surplus

 

£434,074

£369,038

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
M W H Clapson
Company secretary and director

.........................................
J J Campbell
Director

 

I A P A

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
120 Moorgate
London
EC2M 6UR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

 

I A P A

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 2).

 

I A P A

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

£9,562

£9,562

Additions

£763

£763

At 31 December 2023

£10,325

£10,325

Depreciation

At 1 January 2023

£9,562

£9,562

Charge for the year

£212

£212

At 31 December 2023

£9,774

£9,774

Carrying amount

At 31 December 2023

£551

£551

5

Debtors

Current

2023
£

2022
£

Trade debtors

£263,583

5,696)

Prepayments

£2,339

£3,532

Other debtors

£19,325

£13,968

 

£285,247

£11,804

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

£21,662

£36,203

Taxation and social security

£3,212

£178

Accruals and deferred income

£359,624

£15,000

Other creditors

£1,634

£19,943

£386,132

£71,324