General Information
IAC Accountants Limited is a private company, limited by shares, registered in England and Wales, registration number 08816197, registration address Regal Court, 42-44 High Street, Slough, Berkshire, SL1 1EL.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of services provided, excluding discounts, rebates, value added tax and other sale taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25 Reducing Balance
|
| Fixtures and Fittings |
25 Reducing Balance
|
| Computer Equipment |
25 Reducing Balance
|
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
|
| 2. |
Average number of employees
Average number of employees during the year was 4 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
5,013 |
|
10,899 |
|
12,534 |
|
28,446 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
5,013 |
|
10,899 |
|
12,534 |
|
28,446 |
| Depreciation |
| At 01 April 2024 |
1,347 |
|
5,472 |
|
8,107 |
|
14,926 |
| Charge for year |
1,254 |
|
2,039 |
|
2,075 |
|
5,368 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
2,601 |
|
7,511 |
|
10,182 |
|
20,294 |
| Net book values |
| Closing balance as at 31 March 2025 |
2,412 |
|
3,388 |
|
2,352 |
|
8,152 |
| Opening balance as at 01 April 2024 |
3,666 |
|
5,427 |
|
4,427 |
|
13,520 |
|
| 4. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
91,719 |
|
91,719 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
91,719 |
|
91,719 |
|
| 5. |
Debtors: amounts falling due within one year
|
31/03/2025
£ |
|
31/03/2024
£ |
| Trade Debtors |
39,204 |
|
21,404 |
| Amount Owed by Group Undertakings |
25,745 |
|
21,452 |
| Amount Owed by Related Undertakings |
24,153 |
|
37,235 |
| Other Debtors |
12,100 |
|
32,447 |
|
101,202 |
|
112,538 |
|
| 6. |
Creditors: amount falling due within one year
|
31/03/2025
£ |
|
31/03/2024
£ |
| Trade Creditors |
25,139 |
|
23,808 |
| Taxation and Social Security |
16,229 |
|
20,576 |
| Other Creditors |
15,179 |
|
57,237 |
|
56,547 |
|
101,621 |
|
3
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