for the Period Ended 31 December 2024
| Directors report | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2024
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 January 2024
to
31 December 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
As at
| Notes | 2024 | 2023 | |
|---|---|---|---|
|
|
£ |
£ |
|
| Fixed assets | |||
| Tangible assets: | 3 |
|
|
| Investments: | 4 |
|
|
| Total fixed assets: |
|
|
|
| Current assets | |||
| Debtors: | 5 |
|
|
| Cash at bank and in hand: |
|
|
|
| Total current assets: |
|
|
|
| Creditors: amounts falling due within one year: | 6 |
(
|
(
|
| Net current assets (liabilities): |
|
|
|
| Total assets less current liabilities: |
|
|
|
| Creditors: amounts falling due after more than one year: | 7 |
(
|
(
|
| Total net assets (liabilities): |
( |
( |
|
| Members' funds | |||
| Profit and loss account: |
( |
( |
|
| Total members' funds: |
( |
( |
The notes form part of these financial statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| Average number of employees during the period |
|
|
for the Period Ended 31 December 2024
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
|---|---|---|---|---|---|---|
| Cost | £ | £ | £ | £ | £ | £ |
| At 1 January 2024 |
|
|
|
|||
| Additions |
|
|
||||
| Disposals | ||||||
| Revaluations | ||||||
| Transfers | ||||||
| At 31 December 2024 |
|
|
|
|||
| Depreciation | ||||||
| At 1 January 2024 |
|
|
|
|||
| Charge for year |
|
|
|
|||
| On disposals | ||||||
| Other adjustments | ||||||
| At 31 December 2024 |
|
|
|
|||
| Net book value | ||||||
| At 31 December 2024 |
|
|
|
|||
| At 31 December 2023 |
|
|
|
for the Period Ended 31 December 2024
The company's investments at the balance sheet date include £1 invested in 100% of the ordinary share capital of IVAORG Insolvency Limited Limited a company registered in England & Wales no. 09812540, whose registered office is at Suite 202, 9 St. Georges Court Altrincham Business Park, Dairyhouse Lane, Altrincham, England, WA14 5UA. The subsidiary was dormant throughout the current and previous period.
for the Period Ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors |
|
|
| Prepayments and accrued income |
|
|
| Total |
|
|
for the Period Ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts |
|
|
| Trade creditors |
|
|
| Taxation and social security |
|
|
| Other creditors |
|
|
| Total |
|
|
for the Period Ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts |
|
|
| Other creditors |
|
|
| Total |
|
|
IVAORG CIC is a Community Interest Company whose purpose is to assist individuals throughout the United Kingdom who are struggling with the problems associated with overburdening debt. During the year to 31 December 2024 we have provided the following services to the community:- Free financial counselling - We have helped many individuals establish the most practical method for them to deal with their financial problems. Freephone helpline - We have provided free advice to any individual seeking guidance on any general debt problems. Free insolvency support - We have provided free & ethical advice to individuals already engaged in a formal debt solution and, to those that aren't, offer the advice necessary to help them determine whether entering into a formal debt solution is in their best interests. Personal insolvency services - implementation and administering of the Individual Voluntary Arrangement formal debt solution. Our primary purpose is to maximise the amount of social good we create, balanced against financial requirements and goals. We are currently providing advice and support to some of the UK's most financial challenged individuals, assisting them to better understand the different debt solutions they have at their disposal. Through our counsel, individuals become empowered and, subsequently, better able make their own informed decision on how best they can tackle their debt problem.
We continuously consult with all stakeholders including regulators, directors, funders, consumers & their creditors along with the wider community to ensure that the operations of the business are run professionally, efficiently and in line with its objects. During the current and previous years our consultations identified a clear requirement for a new approach to be adopted within the debt sector. The CIC continues to consult with all stakeholders to ensure we fully meet the complete needs of the community, by providing them with the help and support they require on a much fairer and more ethical basis.
There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
29 September 2025
And signed on behalf of the board by:
Name: Elliot Smith
Status: Director