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REGISTERED NUMBER: 04328527 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INDEPENDENT INVESTMENT ASSOCIATES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: L S Hornby
G Richardson
J Crane
A Troughton
I Hartley





SECRETARY: L S Hornby





REGISTERED OFFICE: Cragdale House
Kents Bank Road
Grange Over Sands
LA11 7EY





REGISTERED NUMBER: 04328527 (England and Wales)





ACCOUNTANTS: Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,088 27,298

CURRENT ASSETS
Debtors 5 5,586 7,764
Cash at bank and in hand 668,920 752,024
674,506 759,788
CREDITORS
Amounts falling due within one year 6 269,583 273,103
NET CURRENT ASSETS 404,923 486,685
TOTAL ASSETS LESS CURRENT LIABILITIES 425,011 513,983

PROVISIONS FOR LIABILITIES 1,624 2,341
NET ASSETS 423,387 511,642

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 422,187 510,442
SHAREHOLDERS' FUNDS 423,387 511,642

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 26 March 2025 and were signed on its behalf by:



L S Hornby - Director


INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

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


1. STATUTORY INFORMATION

Independent Investment Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents commissions, fees and similar amounts receivable for services in relation to financial advice. Commission income comprises commissions receivable on inception of a new policy or investment product and commission receivable on renewal.

Initial commissions are recognised when the policy goes on risk. Renewal commissions are recognised when received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Over the term of the lease
Plant and machinery etc - 25% on cost and 15% on cost

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.

Operating lease 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.

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 60,996 116,132 177,128
Additions - 719 719
At 31 December 2024 60,996 116,851 177,847
DEPRECIATION
At 1 January 2024 35,886 113,944 149,830
Charge for year 6,149 1,780 7,929
At 31 December 2024 42,035 115,724 157,759
NET BOOK VALUE
At 31 December 2024 18,961 1,127 20,088
At 31 December 2023 25,110 2,188 27,298

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 570
Other debtors 5,586 7,194
5,586 7,764

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 4,893 3,710
Taxation and social security 79,585 93,033
Other creditors 185,105 176,360
269,583 273,103

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

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


7. OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £60,125 (2023: £79,625).