Independent Investment Associates Limite - Accounts to registrar (filleted) - small 18.2

Independent Investment Associates Limite - Accounts to registrar (filleted) - small 18.2

INDEPENDENT INVESTMENT ASSOCIATES LIMITED - Company Information

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REGISTERED NUMBER: 04328527 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

INDEPENDENT INVESTMENT ASSOCIATES
LIMITED
INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INDEPENDENT INVESTMENT ASSOCIATES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: L S Hornby
G Richardson
J Crane
A Troughton





SECRETARY: L S Hornby





REGISTERED OFFICE: Cragdale House
Kents Bank Road
Grange Over Sands
LA11 7EY





REGISTERED NUMBER: 04328527 (England and Wales)





ACCOUNTANTS: Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ
Page 1
INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

BALANCE SHEET
31 DECEMBER 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,631 68,402

CURRENT ASSETS
Debtors 5 10,959 6,860
Cash at bank and in hand 518,046 495,978
529,005 502,838
CREDITORS
Amounts falling due within one year 6 202,394 166,272
NET CURRENT ASSETS 326,611 336,566
TOTAL ASSETS LESS CURRENT LIABILITIES 404,242 404,968

PROVISIONS FOR LIABILITIES 7,970 5,902
NET ASSETS 396,272 399,066

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 395,072 397,866
SHAREHOLDERS' FUNDS 396,272 399,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 March 2020 and were signed on its behalf by:





L S Hornby - Director


The notes form part of these financial statements

Page 2
INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019


1. STATUTORY INFORMATION

Independent Investment Associates Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents commissions, fees and similar amounts receivable for services in relation to financial advice.
Commission income comprises commissions receivable on inception of a new policy or investment product and commission
receivable on renewal.

Initial commissions are recognised when the policy goes on risk. Renewal commissions are recognised when received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Over the term of the lease
Plant and machinery etc - 15% on cost and Straight line over 4 years

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 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.

Operating lease commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme
are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either
financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual
interest in the assets of the company after deducting all of its liabilities.

Page 3
INDEPENDENT INVESTMENT ASSOCIATES
LIMITED (REGISTERED NUMBER: 04328527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2018 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2019 58,278 90,246 148,524
Additions 2,718 20,035 22,753
At 31 December 2019 60,996 110,281 171,277
DEPRECIATION
At 1 January 2019 5,342 74,780 80,122
Charge for year 5,946 7,578 13,524
At 31 December 2019 11,288 82,358 93,646
NET BOOK VALUE
At 31 December 2019 49,708 27,923 77,631
At 31 December 2018 52,936 15,466 68,402

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 1,290 -
Other debtors 9,669 6,860
10,959 6,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors 2,503 4,622
Taxation and social security 93,917 84,594
Other creditors 105,974 77,056
202,394 166,272

7. OTHER FINANCIAL COMMITMENTS

At 31 December 2019, the company had total commitments under non-cancellable operating leases over the remaining life
of those leases of £157,625 (2018: £177,125).

Page 4