Registration number: 03764553

IBOS Association Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 6

IBOS Association Limited

(Registration number: 03764553)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	3,020	6,515
Current assets
Debtors	6	207,975	10,087
Cash at bank and in hand		215,610	292,377
		423,585	302,464
Creditors: Amounts falling due within one year	7	(295,328)	(74,562)
Net current assets		128,257	227,902
Total assets less current liabilities		131,277	234,417
Provisions for liabilities		-	(1,629)
Net assets		131,277	232,788
Reserves
Retained earnings		131,277	232,788
Surplus		131,277	232,788

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2025 and signed on its behalf by:
 

......................................... Mario Domenico Recchia Director

IBOS Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £100 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Victoria House
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH
England

These financial statements were authorised for issue by the Board on 12 September 2025.

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.

IBOS Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Going concern

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 September 2025 was Stuart Bates BA FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

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.

IBOS Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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
Plant and machinery	25% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

IBOS Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 2).

4	Auditors' remuneration

	2024 £	2023 £
Audit of the financial statements	11,500	11,000

 

IBOS Association Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	36,843	36,843
At 31 December 2024	36,843	36,843
Depreciation
At 1 January 2024	30,328	30,328
Charge for the year	3,495	3,495
At 31 December 2024	33,823	33,823
Carrying amount
At 31 December 2024	3,020	3,020
At 31 December 2023	6,515	6,515

6

Debtors

	2024 £	2023 £
Trade debtors	196,807	-
Prepayments	6,949	4,209
Other debtors	4,219	5,878
	207,975	10,087

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	15,388	9,946
Taxation and social security	796	796
Accruals and deferred income	278,147	49,863
Other creditors	997	13,957
	295,328	74,562