Registration number:
I & A Holdings Limited
for the Year Ended 31 October 2024
I & A Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
I & A Holdings Limited
Company Information
Director |
A R Jones |
Registered office |
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I & A Holdings Limited
(Registration number: 04418567)
Balance Sheet as at 31 October 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
147,398 |
147,398 |
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Retained earnings |
136,857 |
131,572 |
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Shareholders' funds |
284,355 |
279,070 |
For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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I & A Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04418567.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
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 financial statements have been prepared in sterling and are rounded to the nearest pound.
Group accounts not prepared
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the rental of the investment property.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
I & A Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.
The property is not being depreciated as in the opinion of the director the residual value of the property is such that any depreciation arising would be immaterial.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
I & A Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Depreciation |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Freehold property was valued in 2024 by the director on an existing use basis.
The director is not aware of any material change in the value of freehold property for the year ended 31 October 2024.
Included within the net book value of land and buildings above is £350,000 (2023 - £350,000) in respect of freehold land and buildings.
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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I & A Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Subsidiaries |
£ |
Cost or valuation |
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At 1 November 2023 |
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Provision |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Debtors |
Current |
2024 |
2023 |
Other debtors |
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- |
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- |
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
- |
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Amounts owed to Company undertakings and undertakings in which the Company has a participating interest |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other borrowings |
- |
1,098 |
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Secured loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
- |
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Other borrowings |
- |
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- |
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The bank loan is secured by fixed and floating charges over all properties and assets.
Other borrowings are unsecured.
I & A Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Related party transactions |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.
At the year end, the director owed the company £1,850 (2023: the company owed the director £1,097). Loans made to the company by the director and vise versa are unsecured, interest free and repayable on demand.