Registered number
05446956
Iraqi Educational Trust
( A Company Limited By Guarantee)
Filleted Accounts
31 August 2024
Registered Charity No: 1115053
Iraqi Educational Trust
Registered number: 05446956
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,673 1,969
Current assets
Cash at bank and in hand 65,369 42,773
Creditors: amounts falling due within one year 4 (1,087) (916)
Net current assets 64,282 41,857
Net assets 65,955 43,826
Reserves
Income and expenditure account 65,955 43,826
Retained reserves 65,955 43,826
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Thair Hussain Al Jumaily
Director
Approved by the board on 8 May 2025
Iraqi Educational Trust
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 15% reducing balance
Sports equipment 15% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 6
3 Tangible fixed assets
Office equipment Sports equipment Total
£ £ £
Cost
At 1 September 2023 16,144 354 16,498
At 31 August 2024 16,144 354 16,498
Depreciation
At 1 September 2023 14,192 337 14,529
Charge for the year 293 3 296
At 31 August 2024 14,485 340 14,825
Net book value
At 31 August 2024 1,659 14 1,673
At 31 August 2023 1,952 17 1,969
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 577 406
Other creditors 510 510
1,087 916
5 Other information
Iraqi Educational Trust is a company limited by guarantee with no shares and incorporated in England. Its registered office is:
2 Crompton Road
Manchester
M19 2GH
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