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REGISTERED NUMBER: SC618674 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

IASG Ltd

IASG Ltd (Registered number: SC618674)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IASG Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J F Gault
H J Gault





REGISTERED OFFICE: Bridgeview
39 Windhill Street
Stuartfield
Aberdeenshire
AB42 5DR





REGISTERED NUMBER: SC618674 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

IASG Ltd (Registered number: SC618674)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,717 27,644

CURRENT ASSETS
Debtors 5 25,037 22,543
Cash at bank 90,010 80,654
115,047 103,197
CREDITORS
Amounts falling due within one year 6 37,038 26,110
NET CURRENT ASSETS 78,009 77,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,726

104,731

PROVISIONS FOR LIABILITIES 4,394 5,252
NET ASSETS 94,332 99,479

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 94,322 99,469
94,332 99,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IASG Ltd (Registered number: SC618674)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





J F Gault - Director


IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

IASG Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 represents the amounts (excluding value added tax) derived from the sale of goods to customers. Revenue is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 34,640 2,766 37,406
Additions - 579 579
At 31 January 2024 34,640 3,345 37,985
DEPRECIATION
At 1 February 2023 8,660 1,102 9,762
Charge for year 6,495 1,011 7,506
At 31 January 2024 15,155 2,113 17,268
NET BOOK VALUE
At 31 January 2024 19,485 1,232 20,717
At 31 January 2023 25,980 1,664 27,644

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 24,955 21,447
Other debtors 82 1,096
25,037 22,543

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 17,411 10,936
Taxation and social security 14,782 11,210
Other creditors 4,845 3,964
37,038 26,110

7. SECURED DEBTS

A Fixed Charge exists in favour of the Royal Bank of Scotland PLC over any past, present or future obligations of the company.

IASG Ltd (Registered number: SC618674)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
J F Gault
Balance outstanding at start of year 1,028 -
Amounts advanced - 1,028
Amounts repaid (1,860 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (832 ) 1,028