International Visual Communication Association Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00897631

International Visual Communication Association Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 December 2024

International Visual Communication Association Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	5,278	5,278
Tangible assets	6	47	325
		------	------
		5,325	5,603

Current assets

Debtors	7	20,974	8,840
Cash at bank and in hand		–	10,425
		-------	-------
		20,974	19,265

Creditors: amounts falling due within one year	8	90,159		51,058
		-------		-------
Net current liabilities			69,185	31,793
			-------	-------
Total assets less current liabilities			( 63,860)	( 26,190)

Creditors: amounts falling due after more than one year	9	41,392	62,193
		--------	-------
Net liabilities		( 105,252)	( 88,383)
		--------	-------

Capital and reserves

Profit and loss account	( 105,252)	( 88,383)
	--------	-------
Members deficit	( 105,252)	( 88,383)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

International Visual Communication Association Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr D Parmenter

Director

Company registration number: 00897631

International Visual Communication Association Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, incorporated, registered and trading in England and Wales with company number 00987631. The address of the registered office is 8 Jury Street, Warwick, England, CV34 4EW.

2. Statement of compliance

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Going concern

The continuation of the company's affairs are dependent upon the support of creditors. These accounts have been prepared on a going concern basis which assumes their continued support for the foreseeable future.

Judgements in applying accounting policies and key sources of estimation in uncertainty

In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Subscriptions receivable are amortised over the period to which they relate.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Equipment	-	25% straight line

Laptops are to be depreciated at 33.3% straight line.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand, trade and other debtors. These are initially recorded at cost on the date they originate. The company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit or loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and bank loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable. The company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit or loss.

4. Company limited by guarantee

The company is a company formed under the Companies Act as a company limited by guarantee and does not have a share capital. It's registered number is 00897631 .

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 January 2024 and 31 December 2024	5,278
	------
Amortisation
At 1 January 2024 and 31 December 2024	–
	------
Carrying amount
At 31 December 2024	5,278
	------
At 31 December 2023	5,278
	------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	3,373	71,965	75,338
	------	-------	-------
Depreciation
At 1 January 2024	3,373	71,640	75,013
Charge for the year	–	278	278
	------	-------	-------
At 31 December 2024	3,373	71,918	75,291
	------	-------	-------
Carrying amount
At 31 December 2024	–	47	47
	------	-------	-------
At 31 December 2023	–	325	325
	------	-------	-------

7. Debtors

	2024	2023
	£	£
Trade debtors	18,284	2,646
Other debtors	2,690	6,194
	-------	------
	20,974	8,840
	-------	------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	19,154	10,128
Trade creditors	31,512	14,092
Social security and other taxes	4,961	6,273
Other creditors	34,532	20,565
	-------	-------
	90,159	51,058
	-------	-------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	6,563	18,937
Other creditors	34,829	43,256
	-------	-------
	41,392	62,193
	-------	-------

10. Related party transactions

The company considers that no one controls the company. There is an outstanding balance due to DRP Group Limited, a company that has a common director with International Visual Communication Association Limited , of £34,829 at 31st December 2024 (2023: £43,256).