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Registration number: 04418567

I & A Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

I & A Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

I & A Holdings Limited

Company Information

Director

A R Jones

Registered office

Premier House
Rugby Street
Hull
East Yorkshire
HU3 4RB

 

I & A Holdings Limited

(Registration number: 04418567)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

350,000

350,000

Investments

5

100

100

 

350,100

350,100

Current assets

 

Debtors

6

1,850

-

Cash at bank and in hand

 

40,030

56,246

 

41,880

56,246

Creditors: Amounts falling due within one year

7

(107,625)

(127,276)

Net current liabilities

 

(65,745)

(71,030)

Net assets

 

284,355

279,070

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

147,398

147,398

Retained earnings

136,857

131,572

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 24 February 2025
 

.........................................
A R Jones
Director

 

I & A Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

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:
Premier House
Rugby Street
Hull
East Yorkshire
HU3 4RB

These financial statements were authorised for issue by the director on 24 February 2025.

2

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

The financial statements contain information about I & A Holdings Limited as an individual company and do not contain consolidated financial information as part of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. .

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2023

350,000

350,000

At 31 October 2024

350,000

350,000

Depreciation

Carrying amount

At 31 October 2024

350,000

350,000

At 31 October 2023

350,000

350,000

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.
 

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

 

I & A Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Subsidiaries

£

Cost or valuation

At 1 November 2023

100

Provision

Carrying amount

At 31 October 2024

100

At 31 October 2023

100

6

Debtors

Current

2024
£

2023
£

Other debtors

1,850

-

 

1,850

-

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

4,709

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

9

107,025

117,244

Taxation and social security

 

-

3,625

Accruals and deferred income

 

600

600

Other borrowings

 

-

1,098

 

107,625

127,276


 

8

Secured loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

4,709

Other borrowings

-

1,098

-

5,807

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

9

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.