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Registered Number: 11221117
England and Wales

 

 

 

IB&CO ACCOUNTANTS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

IB&Co Accountants Ltd
Contents Page
For the year ended 28 February 2022
Director Ishmael Bangura
Registered Number 11221117
Registered Office Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
Accountants IB & Co Accountants
Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 28 February 2022.
Principal activities
Principal activity of the company during the financial year was of accounting and tax advisory services. 
Director
The director who served the company throughout the year was as follows:
Ishmael Bangura
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Ishmael Bangura
Director

Date approved: 22 September 2022
2
Report to the directors on the preparation of the unaudited statutory accounts of IB&Co Accountants Ltd for the year ended 28 February 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IB&Co Accountants Ltd for the year ended 28 February 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of IB&Co Accountants Ltd, as a body, in accordance with the terms of our engagement letter dated 15 March 2022 . Our work has been undertaken solely to prepare for your approval the accounts of IB&Co Accountants Ltd and state those matters that we have agreed to state to the Board of Directors of IB&Co Accountants Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IB&Co Accountants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IB&Co Accountants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of IB&Co Accountants Ltd.You consider that IB&Co Accountants Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of IB&Co Accountants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 28 February 2022.



....................................................
IB & Co Accountants
IB & Co Accountants
Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
15 September 2022
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 9,206    8,270 
9,206    8,270 
Current assets      
Debtors 4 59,841    40,932 
Cash at bank and in hand (52,256)   4,486 
7,585    45,418 
Creditors: amount falling due within one year 5 3,036    (26,154)
Net current assets 10,621    19,264 
 
Total assets less current liabilities 19,827    27,534 
Net assets 19,827    27,534 
 

Capital and reserves 		     
Called up share capital 1,686    (8,494)
Profit and loss account 18,141    36,028 
Shareholders' funds 19,827    27,534 
 


For the year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 22 September 2022 and were signed by:


-------------------------------
Ishmael Bangura
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 March 2020 (8,494) 28,536  20,042 
Profit for the year 7,492  7,492 
Total comprehensive income for the year -  7,492  7,492 
Total investments by and distributions to owners -  -  - 
At 28 February 2021 (8,494) 36,028  27,534 
At 01 March 2021 1,686  21,892  23,578 
Profit for the year (3,751) (3,751)
Total comprehensive income for the year -  (3,751) (3,751)
Total investments by and distributions to owners -  -  - 
At 28 February 2022 1,686  18,141  19,827 
5
General Information
IB&Co Accountants Ltd is a private company, limited by shares, registered in England and Wales, registration number 11221117, registration address Level 37, 1 Canada Square, Canary Wharf, London, E14 5AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

The average number of persons employed by the company (including the director) during the year, was 1.
Average number of employees during the year was 1 (2021 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2021 97    3,016    3,113 
Additions -    4,232    4,232 
Disposals -    -    - 
At 28 February 2022 97    7,248    7,345 
Depreciation
At 01 March 2021 -    (398)   (398)
Charge for year -    (1,463)   (1,463)
On disposals -    -    - 
At 28 February 2022 -    (1,861)   (1,861)
Net book values
Closing balance as at 28 February 2022 97    9,109    9,206 
Opening balance as at 01 March 2021 97    8,173    8,270 


4.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 16,621    9,588 
Prepayments & Accrued Income (4,800)   (4,800)
Savings account 10,200    1,700 
VAT 15,492    13,963 
37,513    20,451 

4.

Debtors: amounts falling due after one year

2022
£		   2021
£
Directors Loan Accounts 22,328    20,481 
22,328    20,481 

5.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 23,401    24,034 
Bank Loans & Overdrafts (2,727)   (240)
Corporation Tax 2,498    4,255 
PAYE & Social Security 12,456    11,883 
Other Creditors 0    1 
Dividends Payable - Equity (5,967)   (3,467)
Wages & Salaries Control Account (32,697)   (10,312)
(3,036)   26,154 

6