2 2 Ian Priest Associates Limited 07511904 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is business advice and finance raising. Digita Accounts Production Advanced 6.30.9574.0 true 07511904 2024-04-01 2025-03-31 07511904 2025-03-31 07511904 2 2025-03-31 07511904 core:RetainedEarningsAccumulatedLosses 2025-03-31 07511904 core:ShareCapital 2025-03-31 07511904 core:CurrentFinancialInstruments 2025-03-31 07511904 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 07511904 core:Non-currentFinancialInstruments 2025-03-31 07511904 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 07511904 core:OtherResidualIntangibleAssets 2025-03-31 07511904 core:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 07511904 core:OfficeEquipment 2025-03-31 07511904 bus:SmallEntities 2024-04-01 2025-03-31 07511904 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07511904 bus:FilletedAccounts 2024-04-01 2025-03-31 07511904 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07511904 bus:RegisteredOffice 2024-04-01 2025-03-31 07511904 bus:Director1 2024-04-01 2025-03-31 07511904 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07511904 bus:Agent1 2024-04-01 2025-03-31 07511904 core:LicencesFranchises 2024-04-01 2025-03-31 07511904 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-01 2025-03-31 07511904 core:ComputerEquipment 2024-04-01 2025-03-31 07511904 countries:EnglandWales 2024-04-01 2025-03-31 07511904 2024-03-31 07511904 core:OtherResidualIntangibleAssets 2024-03-31 07511904 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 07511904 core:OfficeEquipment 2024-03-31 07511904 2023-04-01 2024-03-31 07511904 2024-03-31 07511904 2 2024-03-31 07511904 core:RetainedEarningsAccumulatedLosses 2024-03-31 07511904 core:ShareCapital 2024-03-31 07511904 core:CurrentFinancialInstruments 2024-03-31 07511904 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07511904 core:Non-currentFinancialInstruments 2024-03-31 07511904 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 xbrli:pure iso4217:GBP

Registration number: 07511904

Ian Priest Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Ian Priest Associates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Ian Priest Associates Limited

Company Information

Director

IC Priest

Registered office

111/113 High Street
Evesham
Worcestershire
WR11 4XP

Accountants

Clement Rabjohns Limited
Chartered Accountants111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Ian Priest Associates Limited

(Registration number: 07511904)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Debtors

6

144

2,035

Cash at bank and in hand

 

12,618

21,140

 

12,762

23,175

Creditors: Amounts falling due within one year

7

(9,182)

(10,205)

Total assets less current liabilities

 

3,580

12,970

Creditors: Amounts falling due after more than one year

7

(11,574)

(14,352)

Net liabilities

 

(7,994)

(1,382)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(8,994)

(2,382)

Shareholders' deficit

 

(7,994)

(1,382)

For the financial year ending 31 March 2025 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 and 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 15 April 2025
 

.........................................
IC Priest
Director

 

Ian Priest Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
111/113 High Street
Evesham
Worcestershire
WR11 4XP

These financial statements were authorised for issue by the director on 15 April 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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 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.

 

Ian Priest Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

50% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise agreement

20% straight line

Licensing fee

20% straight line

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

Ian Priest Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Franchise agreement
 £

Licensing fee
 £

Total
£

Cost or valuation

At 1 April 2024

604

1,809

2,413

At 31 March 2025

604

1,809

2,413

Amortisation

At 1 April 2024

604

1,809

2,413

At 31 March 2025

604

1,809

2,413

Carrying amount

At 31 March 2025

-

-

-

5

Tangible assets

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2024

1,099

1,099

At 31 March 2025

1,099

1,099

Depreciation

At 1 April 2024

1,099

1,099

At 31 March 2025

1,099

1,099

Carrying amount

At 31 March 2025

-

-

6

Debtors

Note

2025
£

2024
£

Trade debtors

 

144

300

Prepayments

 

-

530

Income tax asset

-

1,205

 

144

2,035

 

Ian Priest Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

2,778

2,778

Taxation and social security

 

20

1,774

Accruals and deferred income

 

1,250

1,250

Other creditors

 

5,134

4,403

 

9,182

10,205

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

11,574

14,352

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

11,574

14,352

Current loans and borrowings

2025
£

2024
£

Bank borrowings

2,778

2,778