REGISTERED NUMBER: |
Independence Assured Holding |
Company Limited |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
REGISTERED NUMBER: |
Independence Assured Holding |
Company Limited |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
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 Holding |
Company Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
Balance Sheet |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
Balance Sheet - continued |
29 February 2024 |
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. |
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 |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
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. |
SIGNIFICANT JUDGEMENTS AND 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. |
GOING CONCERN |
The financial statements have been prepared on a going concern basis. |
GOODWILL |
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. |
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 class | Amortisation method and rate |
Goodwill | 10 years straight line basis |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
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; |
• 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 FRS102. |
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. |
INVESTMENTS |
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. |
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable. |
BUSINESS COMBINATIONS |
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
AMORTISATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Details of undertakings |
Details of the investments (including principal place of business of unincorporated entities) in which the |
company holds 20% or more of the nominal value of any class of share capital are as follows: |
Undertaking |
Registered office |
Holding |
Proportion of voting rightsand shares held |
2023 | 2022 |
Subsidiary undertakings |
Independence Assured | 7 Lynwood Court | Ordinary | 100% | 100% |
Limited | Priestlands Place | Shares |
Lymington |
SO41 9GA |
Hampshire |
The principal activity of Independence Assured Limited is is that of financial advisors. |
Independence Assured Holding |
Company Limited (Registered number: 10752002) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |