IB&Co Accountants Ltd

IB&Co Accountants Ltd
Director's Report
For the year ended 29 February 2024

Director's report and financial statements

The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024.

Principal activities

Principal activity of the company during the financial year was of accounting and tax advisory services.

Director

The director who served the company throughout the year was as follows:

Ishmael Bangura

Statement of director's responsibilities

The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to :

select suitable accounting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.

----------------------------------
Ishmael Bangura
Director

Date approved: 27 October 2026

IB&Co Accountants Ltd Accountants' Report For the year ended 29 February 2024
Report to the directors on the preparation of the unaudited statutory accounts of IB&Co Accountants Ltd for the year ended 29 February 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IB&Co Accountants Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us. As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations. This report is made solely to the Board of Directors of IB&Co Accountants Ltd, as a body, in accordance with the terms of our engagement letter dated 27 October 2026 . Our work has been undertaken solely to prepare for your approval the accounts of IB&Co Accountants Ltd and state those matters that we have agreed to state to the Board of Directors of IB&Co Accountants Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IB&Co Accountants Ltd and its Board of Directors as a body for our work or for this report. It is your duty to ensure that IB&Co Accountants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of IB&Co Accountants Ltd.You consider that IB&Co Accountants Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit of the accounts of IB&Co Accountants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 29 February 2024. .................................................... IB & Co Accountants Level 37, 1 Canada Square Canary Wharf London E14 5AA 27 October 2026 3

IB&Co Accountants Ltd
Accountants' Report
For the year ended 29 February 2024

Report to the directors on the preparation of the unaudited statutory accounts of IB&Co Accountants Ltd for the year ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IB&Co Accountants Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of IB&Co Accountants Ltd, as a body, in accordance with the terms of our engagement letter dated 27 October 2026 . Our work has been undertaken solely to prepare for your approval the accounts of IB&Co Accountants Ltd and state those matters that we have agreed to state to the Board of Directors of IB&Co Accountants Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IB&Co Accountants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IB&Co Accountants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of IB&Co Accountants Ltd.You consider that IB&Co Accountants Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of IB&Co Accountants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 29 February 2024.

....................................................
IB & Co Accountants
Level 37, 1 Canada Square
Canary Wharf
London
E14 5AA
27 October 2026

IB&Co Accountants Ltd
Statement of Financial Position
As at 29 February 2024

	Notes	2024 £	2023 £
Fixed assets
Tangible fixed assets	3	4,823	6,430
		4,823	6,430
Current assets
Debtors	4	143,039	80,799
Cash at bank and in hand		0	29,342
		143,039	110,141
Creditors: amount falling due within one year	5	(391,486)	(208,716)
Net current assets		(248,447)	(98,575)

Total assets less current liabilities		(243,624)	(92,145)
Creditors: amount falling due after more than one year	6	(4,909)	(8,728)
Net assets		(248,533)	(100,873)

Capital and reserves
Called up share capital	7	5,000	5,000
Profit and loss account		(253,533)	(105,873)
Shareholders' funds		(248,533)	(100,873)

For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 27 October 2026 and were signed by:

-------------------------------
Ishmael Bangura
Director

IB&Co Accountants Ltd
Statement of Changes in Equity
For the year ended 29 February 2024

	Equity share capital	Retained Earnings	Total
	£	£	£
At 01 March 2022	5,000	(64,192)	(59,192)
Profit/(Loss) for the year		(41,681)	(41,681)
Total comprehensive income for the year	-	(41,681)	(41,681)
Total investments by and distributions to owners	-	-	-
At 28 February 2023	5,000	(105,873)	(100,873)
At 01 March 2023	5,000	(105,873)	(100,873)
Profit/(Loss) for the year		(147,660)	(147,660)
Total comprehensive income for the year	-	(147,660)	(147,660)
Total investments by and distributions to owners	-	-	-
At 29 February 2024	5,000	(253,533)	(248,533)

IB&Co Accountants Ltd
Notes to the Financial Statements
For the year ended 29 February 2024

General Information

IB&Co Accountants Ltd is a private company, limited by shares, registered in England and Wales, registration number 11221117, registration address Level 37, 1 Canada Square, Canary Wharf, London, E14 5AA.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

The company has net liabilities at the balance sheet date and made a loss for the year. It relies on continued financial support from its director, to whom it owes the amount disclosed in the notes. The director has confirmed that he will continue to support the company and will not seek repayment of the amounts owed to him for at least twelve months from the date these financial statements are approved, unless the company can repay them and still meet its other liabilities as they fall due. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would be needed if the company were unable to continue as a going concern.

Turnover

Turnover is the fair value of consideration received or receivable for accountancy, tax and advisory services provided in the year, net of VAT and trade discounts. Revenue is recognised as the services are performed. Work completed but not yet invoiced at the year end is included in debtors.

Taxation

Current tax is the amount expected to be paid or recovered on the taxable profit or loss for the year. Deferred tax is recognised on timing differences that have originated but not reversed at the balance sheet date. No deferred tax asset has been recognised on tax losses carried forward, because their recovery is uncertain.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any impairment. Depreciation is charged so as to write off the cost of assets over their useful lives at the following rates: Fixtures and fittings 25% reducing balance; Computer equipment 25% reducing balance.

Fixtures and Fittings	25 Reducing Balance
Computer Equipment	25 Reducing Balance

Financial instruments

The company has only basic financial instruments, accounted for under Section 11 of FRS 102, initially recognised at transaction price and subsequently measured at amortised cost. Amounts due within one year and amounts repayable on demand are measured at the undiscounted amount expected to be received or paid.

2.	Average number of employees The average number of persons employed by the company (including the director) during the year was 2 (2023 : 2).

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Computer Equipment	Total
	£	£	£
At 01 March 2023	97	8,681	8,778
Additions	-	-	-
Disposals	-	-	-
At 29 February 2024	97	8,681	8,778
Depreciation
At 01 March 2023	-	2,348	2,348
Charge for year	24	1,583	1,607
On disposals	-	-	-
At 29 February 2024	24	3,931	3,955
Net book values
Closing balance as at 29 February 2024	73	4,750	4,823
Opening balance as at 01 March 2023	97	6,333	6,430

Debtors: amounts falling due within one year

	2024 £	2023 £
Trade Debtors	74,405	25,412
Other Debtors	68,634	51,950
VAT	0	3,437
	143,039	80,799

Creditors: amount falling due within one year

	2024 £	2023 £
Bank Loans & Overdrafts	3,818	3,724
Other Creditors	1	1
Directors' Current Accounts	386,819	204,991
VAT	848	0
	391,486	208,716

Creditors: amount falling due after more than one year

	2024 £		2023 £
Bank Loans & Overdrafts	4,909		8,728
	4,909		8,728

Share Capital

Allotted, called up and fully paid	2024 £		2023 £
1,000 Ordinary shares of £5.00 each	5,000		5,000
	5,000		5,000

8.	Director’s loan

Director's loan

At 29 February 2024 the company owed the director, I Bangura, £386,819 (2023: £204,991). The loan is unsecured, interest-free and repayable on demand.

9.	Prior year adjustment The comparative figures for the year ended 28 February 2023 have been restated to correct errors in previously reported balances. The effect is to reduce net assets at 28 February 2023 from £(8,659) as previously reported to £(100,873) as restated. There is no tax effect.

10.	Related party transactions At 29 February 2024 other debtors included £68,634 due from a company under the director's control. There were no other related party transactions requiring disclosure.

11.	Controlling Parties The company is controlled by its director and sole shareholder, I Bangura.