REGISTERED NUMBER: SC618674 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

IASG Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Gault

H J Gault

REGISTERED OFFICE:

Bridgeview

39 Windhill Street

Stuartfield

Aberdeenshire

AB42 5DR

REGISTERED NUMBER:

SC618674 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

16,738

20,717

CURRENT ASSETS

Debtors

5

70,426

25,037

Cash at bank

47,143

90,010

117,569

115,047

CREDITORS

Amounts falling due within one year

6

44,702

37,038

NET CURRENT ASSETS

72,867

78,009

TOTAL ASSETS LESS CURRENT LIABILITIES

89,605

98,726

PROVISIONS FOR LIABILITIES

3,739

4,394

NET ASSETS

85,866

94,332

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

85,856

94,322

85,866

94,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

J F Gault - Director

1.	STATUTORY INFORMATION

IASG Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Turnover represents the amounts (excluding value added tax) derived from the sale of goods to customers. Revenue is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2024

34,640

3,345

37,985

Additions

1,938

-

1,938

Disposals

-

(452

)

(452

)

At 31 January 2025

36,578

2,893

39,471

DEPRECIATION

At 1 February 2024

15,155

2,113

17,268

Charge for year

4,871

861

5,732

Eliminated on disposal

-

(267

)

(267

)

At 31 January 2025

20,026

2,707

22,733

NET BOOK VALUE

At 31 January 2025

16,552

186

16,738

At 31 January 2024

19,485

1,232

20,717

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

55,552

24,955

Other debtors

14,874

82

70,426

25,037

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

19,644

17,411

Taxation and social security

20,124

14,782

Other creditors

4,934

4,845

44,702

37,038

7.	SECURED DEBTS

A Fixed Charge exists in favour of the Royal Bank of Scotland PLC over any past, present or future obligations of the company.