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Registration number: 08237436

International Audits Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

International Audits Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

International Audits Ltd

Company Information

Director

Mr A J Hanson

Registered office

11 Hendford Road
Ensbury Park
Bournemouth
Dorset
BH10 5AT

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

International Audits Ltd

(Registration number: 08237436)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,002

1,336

Current assets

 

Debtors

5

16,016

16,971

Cash at bank and in hand

 

2,951

2,941

 

18,967

19,912

Creditors: Amounts falling due within one year

6

(9,682)

(9,553)

Net current assets

 

9,285

10,359

Total assets less current liabilities

 

10,287

11,695

Creditors: Amounts falling due after more than one year

6

(517)

(1,300)

Provisions for liabilities

(190)

(254)

Net assets

 

9,580

10,141

Capital and reserves

 

Called up share capital

1

1

Retained earnings

9,579

10,140

Shareholders' funds

 

9,580

10,141

For the financial year ending 30 September 2024 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 25 June 2025
 

.........................................
Mr A J Hanson
Director

 

International Audits Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
11 Hendford Road
Ensbury Park
Bournemouth
Dorset
BH10 5AT
England

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.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

International Audits Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

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

Equipment, fixtures and fittings

25% reducing balance

Computer equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

International Audits Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Equipment fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 October 2023

2,438

5,600

8,038

At 30 September 2024

2,438

5,600

8,038

Depreciation

At 1 October 2023

2,029

4,673

6,702

Charge for the year

102

232

334

At 30 September 2024

2,131

4,905

7,036

Carrying amount

At 30 September 2024

307

695

1,002

At 30 September 2023

409

927

1,336

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

6,850

6,745

Amounts owed by connected parties

8

9,129

7,194

Other debtors

 

37

3,032

 

16,016

16,971

 

International Audits Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

900

900

Trade creditors

 

850

825

Taxation and social security

 

6,774

6,978

Accruals and deferred income

 

860

850

Other creditors

 

298

-

 

9,682

9,553

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

517

1,300

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

517

1,300

2024
£

2023
£

Current loans and borrowings

Bank borrowings

900

900

8

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr A J Hanson

Loan - 2.25% interest, unsecured and repayable on demand

2,962

9,457

(12,419)

-

         
       

 

 

International Audits Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Related party transactions (continued)

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr A J Hanson

Loan - 2.25% interest, unsecured and repayable on demand

1,483

22,032

(20,552)

2,962