Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31trueNo description of principal activity2024-01-01false1617trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01119378 2024-01-01 2024-12-31 01119378 2023-01-01 2023-12-31 01119378 2024-12-31 01119378 2023-12-31 01119378 2023-01-01 01119378 c:Director6 2024-01-01 2024-12-31 01119378 d:FurnitureFittings 2024-01-01 2024-12-31 01119378 d:FurnitureFittings 2024-12-31 01119378 d:FurnitureFittings 2023-12-31 01119378 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01119378 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 01119378 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 01119378 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 01119378 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 01119378 d:CurrentFinancialInstruments 2024-12-31 01119378 d:CurrentFinancialInstruments 2023-12-31 01119378 d:Non-currentFinancialInstruments 2024-12-31 01119378 d:Non-currentFinancialInstruments 2023-12-31 01119378 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01119378 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01119378 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 01119378 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01119378 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 01119378 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 01119378 d:RevaluationReserve 2024-01-01 2024-12-31 01119378 d:RevaluationReserve 2024-12-31 01119378 d:RevaluationReserve 2023-01-01 2023-12-31 01119378 d:RevaluationReserve 2023-12-31 01119378 d:RevaluationReserve 2023-01-01 01119378 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01119378 d:RetainedEarningsAccumulatedLosses 2024-12-31 01119378 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01119378 d:RetainedEarningsAccumulatedLosses 2023-12-31 01119378 d:RetainedEarningsAccumulatedLosses 2023-01-01 01119378 c:FRS102 2024-01-01 2024-12-31 01119378 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01119378 c:FullAccounts 2024-01-01 2024-12-31 01119378 c:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 01119378 d:Subsidiary1 2024-01-01 2024-12-31 01119378 d:Subsidiary1 1 2024-01-01 2024-12-31 01119378 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 01119378 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 01119378 2 2024-01-01 2024-12-31 01119378 5 2024-01-01 2024-12-31 01119378 6 2024-01-01 2024-12-31 01119378 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 01119378 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 01119378 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 01119378 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 01119378






INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS
 
(A company limited by guarantee)
REGISTERED NUMBER: 01119378

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
737,286
507,013

Tangible assets
 6 
1,721
3,740

Investments
 7 
1
1

  
739,008
510,754

Current assets
  

Debtors: amounts falling due within one year
 8 
143,307
101,478

Cash at bank and in hand
 9 
16,352
20,398

  
159,659
121,876

Creditors: amounts falling due within one year
 10 
(670,433)
(395,093)

Net current liabilities
  
 
 
(510,774)
 
 
(273,217)

Total assets less current liabilities
  
228,234
237,537

Creditors: amounts falling due after more than one year
 11 
(36,208)
(41,801)

  

Net assets
  
192,026
195,736


Capital and reserves
  

Revaluation reserve
 13 
23,289
23,289

Profit and loss account
 13 
168,737
172,447

  
192,026
195,736


Page 1

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS
 
(A company limited by guarantee)
REGISTERED NUMBER: 01119378
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2025.




S A S Palmer
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS
 
(A company limited by guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Revaluation reserve
Profit and loss account
Total equity

£
£
£


At 1 January 2023
23,289
125,218
148,507


Comprehensive income for the year

Profit for the year
-
47,229
47,229
Total comprehensive income for the year
-
47,229
47,229


Total transactions with owners
-
-
-



At 1 January 2024
23,289
172,447
195,736


Comprehensive income for the year

Loss for the year
-
(3,710)
(3,710)
Total comprehensive income for the year
-
(3,710)
(3,710)


Total transactions with owners
-
-
-


At 31 December 2024
23,289
168,737
192,026


The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 110 Bishopsgate, London, England, EC2N 4AY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end. 


4.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 17).

Page 8

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Patents
Development expenditure
Total

£
£
£



Cost


At 1 January 2024
171,213
346,829
518,042


Additions
-
247,394
247,394



At 31 December 2024

171,213
594,223
765,436



Amortisation


At 1 January 2024
11,029
-
11,029


Charge for the year on owned assets
17,121
-
17,121



At 31 December 2024

28,150
-
28,150



Net book value



At 31 December 2024
143,063
594,223
737,286



At 31 December 2023
160,184
346,829
507,013



Page 9

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
36,516



At 31 December 2024

36,516



Depreciation


At 1 January 2024
32,776


Charge for the year on owned assets
2,019



At 31 December 2024

34,795



Net book value



At 31 December 2024
1,721



At 31 December 2023
3,740


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
1



At 31 December 2024
1




Page 10

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

IAB LCCI Limited
WC2H 7HF
Ordinary £1
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

IAB LCCI Limited
50,822
40,478


8.


Debtors

2024
2023
£
£


Trade debtors
60,904
38,116

Amounts owed by group undertakings
10,533
917

Other debtors
55,186
39,411

Prepayments and accrued income
16,684
23,034

143,307
101,478



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
16,352
20,398

16,352
20,398


Page 11

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
81,704
74,065

Amounts owed to group undertakings
292,048
10,799

Amounts owed to other interests
190,441
249,992

Other taxation and social security
64,091
28,475

Other creditors
36,649
20,416

Accruals
5,500
11,346

670,433
395,093


2024
2023
£
£

Other taxation and social security

PAYE/NI control
64,091
22,938

VAT control
-
5,537

64,091
28,475



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
36,208
41,801

36,208
41,801


Page 12

 
INSTITUTE OF ACCOUNTANTS AND BOOKKEEPERS

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
36,208
41,801


36,208
41,801


36,208
41,801



13.


Reserves

Revaluation reserve

The revaluation reserve is not distributable.

Profit and loss account

The profit and loss account is fully distributable.



14.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £34,222 (2023 - £14,430). Contributions totalling £3,439 (2023 - £Nil) were payable to the fund at the reporting date and are included in other creditors.

 
Page 13