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REGISTERED NUMBER: 05388777 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J D Connell





SECRETARY: A Connell





REGISTERED OFFICE: Trehane Gardens
Probus
TRURO
Cornwall
TR2 4JG





REGISTERED NUMBER: 05388777 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 7,200 9,000
Tangible assets 6 2,179 2,905
9,379 11,905

CURRENT ASSETS
Debtors 7 2,043 4,543
Cash at bank 43,006 67,191
45,049 71,734
CREDITORS
Amounts falling due within one year 8 14,917 13,895
NET CURRENT ASSETS 30,132 57,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,511

69,744

PROVISIONS FOR LIABILITIES 414 552
NET ASSETS 39,097 69,192

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 39,095 69,190
SHAREHOLDERS' FUNDS 39,097 69,192

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)

BALANCE SHEET - continued
31 MARCH 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





J D Connell - Director


INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Independent Aviation Safety (Ias) UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 36,000
AMORTISATION
At 1 April 2023 27,000
Charge for year 1,800
At 31 March 2024 28,800
NET BOOK VALUE
At 31 March 2024 7,200
At 31 March 2023 9,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 28,997
DEPRECIATION
At 1 April 2023 26,092
Charge for year 726
At 31 March 2024 26,818
NET BOOK VALUE
At 31 March 2024 2,179
At 31 March 2023 2,905

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,043 4,543

INDEPENDENT AVIATION SAFETY (IAS) UK
LIMITED (REGISTERED NUMBER: 05388777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 100 84
Taxation and social security 10,809 12,098
Other creditors 4,008 1,713
14,917 13,895

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
J D Connell
Balance outstanding at start of year 4,543 5,053
Amounts advanced - 4,543
Amounts repaid (4,543 ) (5,053 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,543