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INTERNATIONAL BUSINESS ACADEMY CONSORTIUM LTD

Registered Number
SC682720
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

INTERNATIONAL BUSINESS ACADEMY CONSORTIUM LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

AZAROV, Andrii
AZAROVA, Olga

Company Secretary

AZAROVA, Olga

Registered Address

Flat 01 31 Napier Drive
Glasgow
G51 2LP

Registered Number

SC682720 (Scotland)
INTERNATIONAL BUSINESS ACADEMY CONSORTIUM LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,745-
2,745-
Current assets
Debtors1,694-
Cash at bank and on hand50,13119,983
51,82519,983
Creditors amounts falling due within one year(8,520)(6,511)
Net current assets (liabilities)43,30513,472
Total assets less current liabilities46,05013,472
Provisions for liabilities(522)-
Net assets45,52813,472
Capital and reserves
Called up share capital100100
Profit and loss account45,42813,372
Shareholders' funds45,52813,472
The financial statements were approved and authorised for issue by the Board of Directors on 18 March 2025, and are signed on its behalf by:
AZAROV, Andrii
Director
Registered Company No. SC682720
INTERNATIONAL BUSINESS ACADEMY CONSORTIUM LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
Additions3,108
At 31 December 233,108
Depreciation and impairment
Charge for year363
At 31 December 23363
Net book value
At 31 December 232,745
At 31 December 22-