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REGISTERED NUMBER: 03168762 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

INTERNATIONAL RESEARCH CONSULTANTS
LIMITED

INTERNATIONAL RESEARCH CONSULTANTS
LIMITED (REGISTERED NUMBER: 03168762)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INTERNATIONAL RESEARCH CONSULTANTS
LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: S Miller
Mrs V S Stansfield
A C Acaster



REGISTERED OFFICE: 7 Bow Court
Fletchworth Gate
Burnsall Road
COVENTRY
West Midlands
CV5 6SP



REGISTERED NUMBER: 03168762 (England and Wales)



AUDITORS: HB&O Ltd
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB



BANKERS: Lloyds Bank plc
High Street Coventry Branch
PO Box 1000
BX1 1LT

INTERNATIONAL RESEARCH CONSULTANTS
LIMITED (REGISTERED NUMBER: 03168762)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 150,665 149,568

CURRENT ASSETS
Debtors 5 497,863 331,687
Cash at bank and in hand 1,532,056 1,548,855
2,029,919 1,880,542
CREDITORS
Amounts falling due within one year 6 1,689,656 1,540,879
NET CURRENT ASSETS 340,263 339,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,928

489,231

PROVISIONS FOR LIABILITIES 3,666 2,392
NET ASSETS 487,262 486,839

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 477,262 476,839
SHAREHOLDERS' FUNDS 487,262 486,839

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mrs V S Stansfield - Director


INTERNATIONAL RESEARCH CONSULTANTS
LIMITED (REGISTERED NUMBER: 03168762)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

International Research Consultants 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings - 2% on cost
Plant and machinery - Straight line over 3 years
Fixtures and fittings - 25% on reducing balance

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

INTERNATIONAL RESEARCH CONSULTANTS
LIMITED (REGISTERED NUMBER: 03168762)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 August 2023 200,000 577 68,483 269,060
Additions - 9,079 - 9,079
At 31 July 2024 200,000 9,656 68,483 278,139
DEPRECIATION
At 1 August 2023 60,000 225 59,267 119,492
Charge for year 4,000 1,678 2,304 7,982
At 31 July 2024 64,000 1,903 61,571 127,474
NET BOOK VALUE
At 31 July 2024 136,000 7,753 6,912 150,665
At 31 July 2023 140,000 352 9,216 149,568

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 367,698 237,854
Other debtors 130,165 93,833
497,863 331,687

INTERNATIONAL RESEARCH CONSULTANTS
LIMITED (REGISTERED NUMBER: 03168762)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 68,839 86,855
Taxation and social security 239,448 199,289
Other creditors 1,381,369 1,254,735
1,689,656 1,540,879

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 47,582 44,832
Between one and five years 99,399 5,253
146,981 50,085

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,705 Ordinary A £1 8,705 8,705
75 Ordinary C £1 75 75
50 Ordinary D £1 50 50
240 Ordinary F £1 240 240
780 Ordinary H £1 780 780
75 Ordinary I £1 75 75
75 Ordinary J £1 75 75
10,000 10,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of HB&O Ltd

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £40,256 (2023 - £38,866). There were outstanding pension contributions at the year end of £4,063 (2023 - £4,071).

11. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.