Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302025-05-282025-05-282024-11-308truefalsetruetruetrue2023-12-01falseNo description of principal activity8truefalse 00739567 2023-12-01 2024-11-30 00739567 2022-12-01 2023-11-30 00739567 2024-11-30 00739567 2023-11-30 00739567 2022-12-01 00739567 1 2023-12-01 2024-11-30 00739567 1 2022-12-01 2023-11-30 00739567 4 2023-12-01 2024-11-30 00739567 4 2022-12-01 2023-11-30 00739567 d:Exceptional 2023-12-01 2024-11-30 00739567 d:Exceptional 2022-12-01 2023-11-30 00739567 e:Director1 2023-12-01 2024-11-30 00739567 e:Director2 2023-12-01 2024-11-30 00739567 e:Director3 2023-12-01 2024-11-30 00739567 e:Director3 2024-11-30 00739567 e:Director4 2023-12-01 2024-11-30 00739567 e:Director4 2024-11-30 00739567 e:RegisteredOffice 2023-12-01 2024-11-30 00739567 e:Agent1 2023-12-01 2024-11-30 00739567 d:MotorVehicles 2023-12-01 2024-11-30 00739567 d:MotorVehicles 2024-11-30 00739567 d:MotorVehicles 2023-11-30 00739567 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 00739567 d:FurnitureFittings 2023-12-01 2024-11-30 00739567 d:FurnitureFittings 2024-11-30 00739567 d:FurnitureFittings 2023-11-30 00739567 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 00739567 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 00739567 d:FreeholdInvestmentProperty 2024-11-30 00739567 d:FreeholdInvestmentProperty 2023-11-30 00739567 d:FreeholdInvestmentProperty 2 2023-12-01 2024-11-30 00739567 d:CurrentFinancialInstruments 2024-11-30 00739567 d:CurrentFinancialInstruments 2023-11-30 00739567 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 00739567 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 00739567 f:UnitedKingdom 2023-12-01 2024-11-30 00739567 f:UnitedKingdom 2022-12-01 2023-11-30 00739567 d:UKTax 2023-12-01 2024-11-30 00739567 d:UKTax 2022-12-01 2023-11-30 00739567 d:ShareCapital 2024-11-30 00739567 d:ShareCapital 2023-11-30 00739567 d:SharePremium 2023-12-01 2024-11-30 00739567 d:SharePremium 2024-11-30 00739567 d:SharePremium 2023-11-30 00739567 d:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 00739567 d:RetainedEarningsAccumulatedLosses 2024-11-30 00739567 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 00739567 d:RetainedEarningsAccumulatedLosses 2023-11-30 00739567 d:RetainedEarningsAccumulatedLosses 2022-12-01 00739567 e:OrdinaryShareClass1 2023-12-01 2024-11-30 00739567 e:OrdinaryShareClass1 2024-11-30 00739567 e:OrdinaryShareClass1 2023-11-30 00739567 e:OrdinaryShareClass2 2023-12-01 2024-11-30 00739567 e:OrdinaryShareClass2 2024-11-30 00739567 e:OrdinaryShareClass2 2023-11-30 00739567 e:FRS102 2023-12-01 2024-11-30 00739567 e:Audited 2023-12-01 2024-11-30 00739567 e:FullAccounts 2023-12-01 2024-11-30 00739567 e:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 00739567 d:Subsidiary1 2023-12-01 2024-11-30 00739567 d:Subsidiary1 1 2023-12-01 2024-11-30 00739567 d:Subsidiary2 2023-12-01 2024-11-30 00739567 d:Subsidiary2 1 2023-12-01 2024-11-30 00739567 d:Subsidiary6 2023-12-01 2024-11-30 00739567 d:Subsidiary6 1 2023-12-01 2024-11-30 00739567 d:Subsidiary7 2023-12-01 2024-11-30 00739567 d:Subsidiary7 1 2023-12-01 2024-11-30 00739567 d:Subsidiary8 2023-12-01 2024-11-30 00739567 d:Subsidiary8 1 2023-12-01 2024-11-30 00739567 1 2023-12-01 2024-11-30 00739567 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 00739567 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 00739567 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 00739567 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 00739567 d:RetirementBenefitObligationsDeferredTax 2024-11-30 00739567 d:RetirementBenefitObligationsDeferredTax 2023-11-30 00739567 d:OtherDeferredTax 2024-11-30 00739567 d:OtherDeferredTax 2023-11-30 00739567 4 2023-12-01 2024-11-30 00739567 6 2023-12-01 2024-11-30 00739567 g:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 00739567







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2024


IAN ALLAN GROUP LIMITED






































img7318.png                        

 


IAN ALLAN GROUP LIMITED
 


 
COMPANY INFORMATION


Directors
B. F. Allan 
N. D. Allan 




Registered number
00739567



Registered office
Dial House
Govett Avenue

Shepperton

Middlesex

TW17 8AG




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY




Bankers
Lloyds Bank Plc
Connaught House

Alexandra Terrace

Guildford

Surrey

GU1 3DA




Solicitors
Moore Barlow LLP
Concord House

165 Church Street East

Woking

Surrey

GU21 6HJ





 


IAN ALLAN GROUP LIMITED
 



CONTENTS



Page
Strategic Report
1
Directors' Report
2 - 3
Independent Auditor's Report
4 - 7
Statement of Income and Retained Earnings
8
Statement of Financial Position
9
Notes to the Financial Statements
10 - 21


 


IAN ALLAN GROUP LIMITED
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

Principal activity
 
The Company's principal activity during the year was that of an intermediate holding company.

Business review
 
The main focus of the Company is now the activities of an intermediate holding company.
The Company had net assets of £3,916,616 (2023: £5,908,284) reported at the period end.
After the year end, the Company sold its investment property, held at the year end at £2,125,000.

Principal risks and uncertainties
The management of the business and the execution of the Group’s strategy are subject to a number of key risks. See IAGP Limited Group accounts for a more detailed overview of the principal risks and uncertainties affecting the Group.
The Directors of Ian Allan Group Limited remain optimistic that the Group's property portfolio will continue to prosper in the future.

Financial key performance indicators
 
The Group uses a series of key performance indicators to monitor the performance of the business. These include but are not limited to the following:
- Turnover by sector and department
- Gross profit by sector and department
- Net profit by sector
- Property vacancy rates
- Staff efficiency
Other key performance indicators

-Staff numbers and vacancies
-Transaction numbers
-Return on Investment
-Income per square foot.

Specific analysis of the above KPIs has not been given in this report as the directors consider that such disclosures would be seriously prejudicial to the interests of the Group.


This report was approved by the board and signed on its behalf.



N. D. Allan
Director

Date: 7 July 2025

Page 1

 


IAN ALLAN GROUP LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Results and dividends

The loss for the year, after taxation, amounted to £1,991,668 (2023 - loss £788,809).

Directors

The directors who served during the year were:

B. F. Allan 
N. D. Allan 
S. Blaney (resigned 28 May 2025)
M. A. Smith (BA, BFP, FCA) (resigned 28 May 2025)

Going concern

The directors have a reasonable expectation that the Company has adequate resources to continue operational existence for the foreseeable future. For this reason the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Future developments

The Company's strategy is to develop its investments in profitable businesses, and to concentrate efforts to restructure the parts of the business which are failing to provide an adequate return on investment.

Matters covered in the Strategic Report

The Company has chosen, in accordance with Section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, to set out within the Group's Strategic Report the Company's Strategic Report Information Required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. 

Page 2

 


IAN ALLAN GROUP LIMITED
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

After the year end, the Company sold the investment property held for proceeds of £2,125,000.

Auditor

Under section 487(2) of the Companies Act 2006Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 




N. D. Allan
Director

Date: 7 July 2025

Dial House
Govett Avenue
Shepperton
Middlesex
TW17 8AG

Page 3

 


IAN ALLAN GROUP LIMITED
 

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IAN ALLAN GROUP LIMITED

Opinion


We have audited the financial statements of Ian Allan Group Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 November 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4

 


IAN ALLAN GROUP LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IAN ALLAN GROUP LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 


IAN ALLAN GROUP LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IAN ALLAN GROUP LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were the most significant including:

The Companies Act 2006;
Financial Reporting 102;
UK employment legislation
UK health and safety legislation;
UK tax legislation; and
General Data Protection Regulations.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We understood how the Company is complying with those legal and regulatory frameworks by, making enquiries to management, those responsible for legal and compliance procedures and the company secretary. We corroborated our enquiries through our review of board minutes.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process
Challenging assumptions and judgements made by management in its significant accounting estimates; and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

The application of inappropriate judgements or estimation to manipulate the Company's financial position;
Posting of unusual journals and complex transactions; and
The use of management override of controls to manipulate results, or to cause the Company to enter into transactions not in its best interests.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 6

 


IAN ALLAN GROUP LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF IAN ALLAN GROUP LIMITED (CONTINUED)


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Andrew Hookway FCA (Senior Statutory Auditor)
for and on behalf of
Menzies LLP
Chartered Accountants
Statutory Auditor
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY

21 July 2025
Page 7

 


IAN ALLAN GROUP LIMITED
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
-
92,083

Gross profit
  
-
92,083

Administrative expenses
  
(722,757)
(803,117)

Exceptional administrative expenses
  
(1,500,000)
-

Other operating income
 5 
104,324
104,146

Loss from changes in fair value of investment property
  
(123,000)
-

Operating loss
  
(2,241,433)
(606,888)

Income from fixed assets investments
  
-
11,673

Interest payable and similar expenses
 10 
(18,847)
(16,473)

Loss before tax
  
(2,260,280)
(611,688)

Tax on loss
 11 
268,612
(177,121)

Loss after tax
  
(1,991,668)
(788,809)

  

  

Retained earnings at the beginning of the year
  
5,779,552
6,568,361

  
5,779,552
6,568,361

Loss for the year
  
(1,991,668)
(788,809)

Retained earnings at the end of the year
  
3,787,884
5,779,552

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 10 to 21 form part of these financial statements.

Page 8

 


IAN ALLAN GROUP LIMITED
REGISTERED NUMBER:00739567



STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
355
3,438

Investments
 14 
200
200

Investment property
 15 
2,125,000
2,248,000

  
2,125,555
2,251,638

Current assets
  

Debtors: amounts falling due within one year
 16 
2,208,886
4,335,941

Cash at bank and in hand
  
43,851
8,920

  
2,252,737
4,344,861

Creditors: amounts falling due within one year
 17 
(461,676)
(522,798)

Net current assets
  
 
 
1,791,061
 
 
3,822,063

Total assets less current liabilities
  
3,916,616
6,073,701

Provisions for liabilities
  

Deferred tax
 18 
-
(165,417)

  
 
 
-
 
 
(165,417)

Net assets
  
3,916,616
5,908,284


Capital and reserves
  

Called up share capital 
 19 
49,932
49,932

Share premium account
 20 
78,800
78,800

Profit and loss account
 20 
3,787,884
5,779,552

  
3,916,616
5,908,284


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N. D. Allan
B. F. Allan
Director
Director


Date: 7 July 2025
Date:17 July 2025

The notes on pages 10 to 21 form part of these financial statements.

Page 9

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Ian Allan Group Limited is a private company limited by shares and incorporated in England and Wales. Details of the Company's registered office and principal place of business can be found on the Company Information page.
The financial statements of the Company are presented in £ and are rounded to the nearest pound.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of IAGP Limited as at 30 November 2024 and these financial statements may be obtained from  Dial House, Govett Avenue, Shepperton, Middlesex, TW17 8AG.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.4

Revenue

Rental income 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. Rental income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Page 10

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

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.

Page 11

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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.

The estimated useful lives range as follows:

Motor vehicles
-
10% to 25% per annum on cost
Fixtures and fittings
-
10% to 25% per annum on cost

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.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the director's using external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Key areas of judgement and estimation affecting these financial statements are as follows:
Valuation of Investment Property
Investment properties are valued on the basis of open market value for existing use. Management assess the reputation, qualifications and relevant expertise of their external professional advisers in order to be satisfied that they can rely on their independent judgement to determine the value of the investment property within the accounts.
Recoverability of intercompany debtors
Management use judgement in determining the expected recoverability of intercompany debt and calculate a bad debt provision based on the expected future cash flows of the relevant debtor.

Page 12

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Turnover

The whole of the turnover is attributable to UK rental income.

2024
2023
£
£

United Kingdom
-
92,083

-
92,083



5.


Other operating income

2024
2023
£
£

Other operating income
103,324
103,146

Sundry income
1,000
1,000

104,324
104,146



6.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
4,875
4,875

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
158,032
219,560

Social security costs
20,338
30,384

Cost of defined contribution scheme
103,284
47,829

281,654
297,773

Page 13

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.Employees (continued)

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
4
4



Administrative staff
4
4

8
8


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
146,287
169,408

Company contributions to defined contribution pension schemes
77,070
18,913

223,357
188,321


During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £110,537.

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £77,070.


9.


Income from investments

2024
2023
£
£





Dividends received from investments in subsidiaries
-
11,673

-
11,673



10.


Interest payable and similar expenses

2024
2023
£
£


Other loan interest payable
18,847
16,473

18,847
16,473

Page 14

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Taxation


2024
2023
£
£



Adjustments in respect of previous periods
(67,193)
67,193


(67,193)
67,193


Total current tax
(67,193)
67,193

Deferred tax


Origination and reversal of timing differences
(188,857)
(56,507)

Changes to tax rates
(12,562)
166,435

Total deferred tax
(201,419)
109,928


Tax on loss
(268,612)
177,121

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23%). The differences are explained below:

2024
2023
£
£


Loss on ordinary activities before tax
(2,260,280)
(611,688)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23%)
(565,070)
(112,773)

Effects of:


Fixed asset timing differences
609
-

Expenses not deductible for tax purposes
405,808
288

Capital allowances for year in excess of depreciation
-
(2,686)

Group relief surrendered/(claimed)
-
63,159

Adjustments to tax charge in respect of previous periods
(67,193)
67,193

Adjustments to tax charge in respect of previous periods - deferred tax
(12,562)
166,435

Remeasurement of deferred tax for changes in tax rates
546
(4,495)

Chargeables gains/(losses)
(30,750)
-

Total tax charge for the year
(268,612)
177,121

Page 15

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

12.


Exceptional items

2024
2023
£
£


Intercompany write off
1,500,000
-

1,500,000
-

During the year it was deemed that part of the intercompany balance with Ian Allan Motors Limited was irrecoverable. It has therefore been written off to the profit or loss.


13.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost 


At 1 December 2023
44,548
19,506
64,054


Disposals
-
(5,729)
(5,729)



At 30 November 2024

44,548
13,777
58,325



Depreciation


At 1 December 2023
41,764
18,852
60,616


Charge for the year
2,784
299
3,083


Disposals
-
(5,729)
(5,729)



At 30 November 2024

44,548
13,422
57,970



Net book value



At 30 November 2024
-
355
355



At 30 November 2023
2,784
654
3,438

Page 16

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 December 2023
200



At 30 November 2024
200






Net book value



At 30 November 2024
200



At 30 November 2023 (as restated)
200


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

Ian Allan Publishing Limited
Publishers and booksellers
Ordinary
100%
Ian Allan Motors Limited
Car sales and services
Ordinary
100%
Ian Allan (Miniature Railway Supplies) Limited
Miniature railway operator
Ordinary
100%
Tennay Properties Ltd
Other letting and operating
Ordinary
100%
of own or leased real estate
  - %

The registered office for all of the above is Dial House, Govett Avenue, Shepperton, Middlesex, TW17 8AG.

After the year end, the subsidiary Ian Allan Motors Limited ceased to trade and is being liquidated. The financial impact to the Group cannot be estimated at this time.

Page 17

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

15.


Investment property


Freehold investment property

£



Valuation


At 1 December 2023
2,248,000


Deficit on revaluation
(123,000)



At 30 November 2024
2,125,000

If the investment property had been accounted for under the historic cost accounting rules, the property would have been measured at £1,776,050 (2023: £1,776,050).
At each year end the directors form an assessment of the fair value of each investment property and as part of this process may obtain formal valuations for certain properties within the portfolio.

The 2024 valuations were made by the directors, on an open market value for existing use basis.





16.


Debtors

2024
2023
£
£


Trade debtors
3,988
-

Amounts owed by group undertakings
2,159,248
4,328,316

Other debtors
6,109
4,467

Prepayments and accrued income
3,539
3,158

Deferred taxation
36,002
-

2,208,886
4,335,941


Page 18

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,238
2,453

Corporation tax
-
67,193

Other taxation and social security
4,161
6,999

Other creditors
314,868
251,601

Accruals and deferred income
139,409
194,552

461,676
522,798


Included within other creditors and accruals are amounts totaling £373,528 (2023 - £297,650) which are secured on the value of the Company's investment property.
The Company has provided Lloyds Bank plc with an omnibus guarantee and set-off arrangement to secure the bank borrowings of other companies within the group. At the year end no net borrowings existed with the bank, therefore there are no secured debts.


18.


Deferred taxation




2024
2023


£

£






At beginning of year
(165,417)
(55,489)


Charged to profit or loss
201,419
(109,928)



At end of year
36,002
(165,417)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(11,026)
(5,546)

Short term timing differences
25,900
19,759

Capital gains/(losses)
(204,256)
(235,006)

Losses and other deductions
225,384
55,376

36,002
(165,417)

Page 19

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

19.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



99,864 (2023 - 99,864) Ordinary D shares shares of £0.25 each
24,966
24,966
99,864 (2023 - 99,864) Ordinary P shares shares of £0.25 each
24,966
24,966

49,932

49,932

Each share type is entitled to one vote in any circumstances and ranks equally in dividends and distributions.


20.


Reserves

Share premium account

The amount in the share premium account represents the additional amount shareholders paid for their issued shares that was in excess of the par value of those shares.

Profit and loss account

This account records retained earnings and accumulated losses. 


21.


Prior year adjustment

During the current financial year, a review of the Group’s financial records identified the need for a prior year adjustment relating to the impairment of the fixed asset investment in one of the subsidiary companies, Ian Allan Publishing Ltd.
Following an assessment, it was determined that the carrying value of the investment was overstated in the prior year. As a result, an impairment adjustment has been recorded to reflect the value of the investment more accurately. The impact of this adjustment is a reduction in the carrying value of the investment and an increase in the impairment of investments provision by £35,495.


22.


Pension commitments

The Company operates a defined contribution pension plan. The total unpaid commitments at the year end was £10,599 (2023 - £4,886).


23.


Related party transactions

The Company has taken advantage of Section 33 of FRS 102 from disclosing transactions with Group companies.
Included within other creditors are balances due to close family members of directors totaling £373,528 (
2023 - £297,650). Interest accrues on £294,746 of these balances at 1% above the Bank of England base rate, resulting in an interest charge of £18,324  for the year ended 30 November 2024 (2023 - £15,076). At the year end, unpaid interest on these balances totalled £78,782 (2022 - £60,458) and was included within accruals.
 
Page 20

 


IAN ALLAN GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

24.


Post balance sheet events

After the year end, the Company sold the investment property held for proceeds of £2,125,000.


25.


Controlling party

The immediate and ultimate parent company is IAGP Limited, a company incorporated in England and Wales.
Copies of the consolidated financial statements of IAGP Limited can be obtained from Dial House, Govett Avenue, Shepperton, Middlesex, England, TW17 8AG. 
This is the largest and smallest group of undertakings for which consolidated financial statements are available.
There is no one controlling party.

Page 21