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REGISTERED NUMBER: 08385733 (England and Wales)










Independence Assured Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Independence Assured Limited (Registered number: 08385733)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Independence Assured Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: M Weston





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 08385733 (England and Wales)

Independence Assured Limited (Registered number: 08385733)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 26,838 33,431

CURRENT ASSETS
Debtors 5 207,578 257,264
Cash at bank 50,510 79,698
258,088 336,962
CREDITORS
Amounts falling due within one year 6 (163,655 ) (148,575 )
NET CURRENT ASSETS 94,433 188,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,271

221,818

CREDITORS
Amounts falling due after more than one year 7 - (18,324 )
NET ASSETS 121,271 203,494

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 121,270 203,493
SHAREHOLDERS' FUNDS 121,271 203,494

Independence Assured Limited (Registered number: 08385733)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 28 November 2024 and were signed by:





M Weston - Director


Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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.

The company's functional and presentational currency is pound sterling.

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.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position 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 classDepreciation method and rate
Office equipment20% Reducing Balance Basis
Computer equipment20% Reducing Balance Basis


Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset classAmortisation method and rate
Goodwill10 year straight line basis

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS 102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the
instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using th effective interest method.

TAX
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 5,568 37,880 16,113 59,561
Additions - - 95 95
At 29 February 2024 5,568 37,880 16,208 59,656
DEPRECIATION
At 1 March 2023 3,896 12,122 10,112 26,130
Charge for year 335 5,152 1,201 6,688
At 29 February 2024 4,231 17,274 11,313 32,818
NET BOOK VALUE
At 29 February 2024 1,337 20,606 4,895 26,838
At 28 February 2023 1,672 25,758 6,001 33,431

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,021 71,964
Other loans 41,561 41,561
Amounts owed by group undertakings 72,411 94,811
Directors' current accounts 26,585 48,928
207,578 257,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,124 3,854
Other loans 23,147 33,064
Hire purchase contracts 18,296 5,578
Purchase ledger control account 587 628
Corporation tax liability 29,814 31,705
Social security and other tax 12,805 5,674
Other creditors 59,574 63,968
Accruals 4,308 4,104
163,655 148,575

Independence Assured Limited (Registered number: 08385733)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 18,324

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary shares £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
M Weston
Balance outstanding at start of year 48,928 78,101
Amounts advanced 26,585 239,127
Amounts repaid (48,928 ) (268,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,585 48,928

10. RELATED PARTY DISCLOSURES

The company advanced an interest free loan of £41,561 to Wes7N Limited, a company of which a director and shareholder is also a director and shareholder. The loan is not secured and does not have fixed repayment terms. The loan has been included within current assets.