Silverfin false false 31/01/2024 01/02/2023 31/01/2024 N P Douch 03/01/2008 29 October 2024 The principal activity of the Company during the financial year was that of a hairdressing salon. 06462578 2024-01-31 06462578 bus:Director1 2024-01-31 06462578 core:CurrentFinancialInstruments 2024-01-31 06462578 core:CurrentFinancialInstruments 2023-01-31 06462578 core:Non-currentFinancialInstruments 2024-01-31 06462578 core:Non-currentFinancialInstruments 2023-01-31 06462578 2023-01-31 06462578 core:ShareCapital 2024-01-31 06462578 core:ShareCapital 2023-01-31 06462578 core:RetainedEarningsAccumulatedLosses 2024-01-31 06462578 core:RetainedEarningsAccumulatedLosses 2023-01-31 06462578 2023-02-01 2024-01-31 06462578 bus:FilletedAccounts 2023-02-01 2024-01-31 06462578 bus:SmallEntities 2023-02-01 2024-01-31 06462578 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06462578 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06462578 bus:Director1 2023-02-01 2024-01-31 06462578 2022-02-01 2023-01-31 06462578 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 06462578 (England and Wales)

IAAM LIMITED

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

IAAM LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

IAAM LIMITED

BALANCE SHEET

As at 31 January 2024
IAAM LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Current assets
Debtors 3 258 1,168
258 1,168
Creditors: amounts falling due within one year 4 ( 8,656) ( 7,393)
Net current liabilities (8,398) (6,225)
Total assets less current liabilities (8,398) (6,225)
Creditors: amounts falling due after more than one year 5 ( 2,490) ( 3,690)
Net liabilities ( 10,888) ( 9,915)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 10,889 ) ( 9,916 )
Total shareholder's deficit ( 10,888) ( 9,915)

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

Director's responsibilities:

The financial statements of IAAM Limited (registered number: 06462578) were approved and authorised for issue by the Director on 29 October 2024. They were signed on its behalf by:

N P Douch
Director
IAAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
IAAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

IAAM Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 50 Oswald Road, Moordown, Bournmouth, BH9 2TQ, United Kingdom.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Debtors

2024 2023
£ £
Other debtors 258 1,168

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 3,410 3,382
Trade creditors 7 0
Other taxation and social security 2,466 723
Other creditors 2,773 3,288
8,656 7,393

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

2024 2023
£ £
Bank loans 2,490 3,690

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