The Investing and Saving Alliance - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03548792 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

THE INVESTING AND SAVING ALLIANCE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J W Korek

Mrs C L Knight

Ms E Bayer

Mr T Stenning

Mr L Banda

Mr J Ewing

Ms A H Fairweather

Mr P W Best

Mrs S J Layden

SECRETARY:

Mrs C L Knight

REGISTERED OFFICE:

Dakota House

25 Falcon Court

Preston Farm Industrial Park

Stockton on Tees

Cleveland

TS18 3TX

REGISTERED NUMBER:

03548792 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Trevor Cook FCA

AUDITORS:

Baines Jewitt Limited

Statutory Auditor

Spitfire House

19 Falcon Court

Preston Farm Industrial Estate

Stockton-on-Tees

TS18 3TU

BANKERS:

TSB Bank Plc

87 - 89 High Street

Redcar

TS10 3DE

FIXED ASSETS

Tangible assets

4

87

1,484

Investments

5

400

200

487

1,684

CURRENT ASSETS

Debtors

6

1,433,575

1,218,592

Cash at bank

754,313

853,105

2,187,888

2,071,697

CREDITORS

Amounts falling due within one year

7

1,785,280

1,666,128

NET CURRENT ASSETS

402,608

405,569

TOTAL ASSETS LESS CURRENT LIABILITIES

403,095

407,253

CREDITORS

Amounts falling due after more than one year

8

37,365

53,348

NET ASSETS

365,730

353,905

RESERVES

Income and expenditure account

365,730

353,905

365,730

353,905

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 30 November 2023 and were signed on its behalf by:

Mr J W Korek - Director

1.	STATUTORY INFORMATION

The Investing and Saving Alliance is a private company, limited by guarantee , registered in England and Wales. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Tangible fixed assets and depreciation

Items costing £1,500 or less are treated as revenue items.

Where fixed assets are purchased costing more than £1,500 these are treated as capital items and depreciated on a straight line basis over three years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

and 30 June 2023

32,411

DEPRECIATION

At 1 July 2022

30,927

Charge for year

1,397

At 30 June 2023

32,324

NET BOOK VALUE

At 30 June 2023

87

At 30 June 2022

1,484

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2022

200

Additions

200

At 30 June 2023

400

NET BOOK VALUE

At 30 June 2023

400

At 30 June 2022

200

6.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

531,888

604,562

Amounts owed by group undertakings

7,184

562,413

Prepayments and accrued income

64,817

51,617

603,889

1,218,592

Amounts falling due after more than one year:

Amounts owed by group undertakings

829,686

-

Aggregate amounts

1,433,575

1,218,592

TISAtech Limited - The funding required to establish the business has been provided by The Investing and Saving Alliance. Of the funds provided to the company, a loan of £325,000 has been provided with interest being charged at 4.5% above base rate.

TISA Universal Reporting Network Limited - The funding required to establish the business has been provided by The Investing and Saving Alliance. Of the funds provided to the company, a loan of £195,000 has been provided with interest being charged at 4.5% above base rate.

These balances are included within Debtors: amounts falling due after one year.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

16,000

16,000

Trade creditors

80,766

52,770

Social security and other taxes

102,295

143,811

Other creditors (Note 11)

73,234

46,389

Accruals and deferred income

1,512,985

1,407,158

1,785,280

1,666,128

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 2-5 years

37,365

53,348

9.	LEASING AGREEMENTS

Commitments under operating leases at the balance sheet date amounted to £117,548 (2022: £148,096)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Trevor Cook FCA (Senior Statutory Auditor)

for and on behalf of Baines Jewitt Limited

11.	LIMITED BY GUARANTEE

The Company is limited by guarantee as defined in the Companies Acts. The liability of the members is limited.

Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the Company's assets if it is wound up while they are a member or within one year after they cease to be a member, for payment of the Company's debts and liabilities contracted before they cease to be members, and of the costs, charges and expenses of winding up, and for the adjustments of the rights of the contributions amongst themselves.

12.	THE CENTRE FOR FINANCIAL CAPABILITY FUND (KICK START)

The Centre For Financial Capability Fund (Kick Start) is a programme of work whereby Supporting Companies provide both a financial and more practical investment through time and energy to help build a savings culture and promote financial education amongst young children.

Most activity is scheduled to be undertaken in partnership with specialist financial education charity MyBnk - registered charity number 1123791 and donations are either paid directly to that charity or into a separate bank account for this purpose.

Decisions regarding how the funds are to be allocated are taken by a Steering Committee and all of the Founding Partners are allocated one space thereon and one vote, with decisions taken by a simple majority.

Donations received into the above mentioned designated bank account are not considered to be part of the Company's income - it is simply providing an administration service on trust for the Supporting Companies and, consequently, neither the donations nor the distributions are recognised in the Company's Income and Expenditure Account.

The activity of the Fund in the year is summarised as follows:

2017 - 2019

2020

2021

2022

2023

Total

30 June 2023

Income:

Donations collected

850,000

20,000

220,000

128,000

194,525

1,412,525

Grant received

78,3563

-

-

-

-

78,356

Interest received

2.392

2,936

458

105

569

6,460

930,748

22,936

220,458

128,105

195,094

1,497,341

Expenditure incurred and approved by the Steering Committee

445,495

421,613

192,194

196,550

168,249

1,424,107

Funds held in Bank Account

£73,234

The balance of funds of £73,234 are held in a separate bank account and included on the Balance Sheet of the Company under 'Cash at Bank and in hand' with a corresponding amount included under 'Other Creditors'.