Impart Consultancy Limited - Period Ending 2018-12-31

Company registration number: 04118900

Impart Consultancy Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2018

Abrams Ashton
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

Impart Consultancy Limited

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Profit and Loss Account and Statement of Retained Earnings	4
Balance Sheet	5
Notes to the Financial Statements	6 to 9

Impart Consultancy Limited

Company Information

Directors

Mr M H Eaton Ms J L Woolcombe

Registered office

7 Lawrence Close Cranage Cheshire CW4 8FA

Accountants

Abrams Ashton Chartered Accountants 7 Waterside Court St. Helens Merseyside WA9 1UA

Page 1

Impart Consultancy Limited

Directors' Report for the Year Ended 31 December 2018

The directors present their report and the financial statements for the year ended 31 December 2018.

Cessation
The company ceased to trade on the 30th April 2018.

Directors of the company

The directors who held office during the year were as follows:

Mr M H Eaton

Ms J L Woolcombe

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 30 September 2019 and signed on its behalf by:

.........................................
Mr M H Eaton
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Impart Consultancy Limited
for the Year Ended 31 December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Impart Consultancy Limited for the year ended 31 December 2018 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Impart Consultancy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Impart Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Impart Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Impart Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Impart Consultancy Limited 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 of Impart Consultancy Limited. You consider that Impart Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Impart Consultancy Limited. 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 statutory accounts.

......................................

Abrams Ashton
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

30 September 2019

Page 3

Impart Consultancy Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2018

	Note	2018 £	2017 £
Turnover		80,000	225,500
Administrative expenses		(29,084)	(66,315)
Operating profit		50,916	159,185
Other interest receivable and similar income		18	10
		18	10
Profit before tax	4	50,934	159,195
Taxation		(10,401)	(31,284)
Profit for the financial year		40,533	127,911
Retained earnings brought forward		43,208	29,660
Dividends paid		(66,330)	(114,363)
Retained earnings carried forward		17,411	43,208

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 4

Impart Consultancy Limited

(Registration number: 04118900)
Balance Sheet as at 31 December 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	5	-	8,915
Current assets
Debtors	6	14,533	24,395
Cash at bank and in hand		15,244	48,848
		29,777	73,243
Creditors: Amounts falling due within one year	7	(12,266)	(38,850)
Net current assets		17,511	34,393
Net assets		17,511	43,308
Capital and reserves
Called up share capital		100	100
Profit and loss account		17,411	43,208
Total equity		17,511	43,308

For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 September 2019 and signed on its behalf by:
 

.........................................

Mr M H Eaton
Director

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 5

Impart Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Lawrence Close
Cranage
Cheshire
CW4 8FA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - '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 on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue from business consulting is recognised over the period in which the services are provided and is net of value added tax, rebates and discounts.

Revenue includes expenses and disbursements recharged to clients with the exception of entertainment.

Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fittings & fixtures	25% Reducing balance
Office equipment	33% Straight line
Motor vehicles	25% Reducing balance

Page 6

Impart Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

Leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

Not later than 1 year, 2018: £nil (2017: £7,400)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2017 - 1).

4	Profit before tax

Arrived at after charging/(crediting)

	2018 £	2017 £
Depreciation expense	-	3,654

Page 7

Impart Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

5	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2018	4,892	7,204	22,421	34,517
Disposals	(4,892)	(7,204)	(22,421)	(34,517)
At 31 December 2018	-	-	-	-
Depreciation
At 1 January 2018	4,632	5,643	15,327	25,602
Eliminated on disposal	(4,632)	(5,643)	(15,327)	(25,602)
At 31 December 2018	-	-	-	-
Carrying amount
At 31 December 2018	-	-	-	-
At 31 December 2017	260	1,561	7,094	8,915

6

Debtors

	2018 £	2017 £
Trade debtors	-	18,000
Other debtors	14,533	6,395
	14,533	24,395

7

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Corporation tax	9,901	31,373
Other creditors	2,365	7,477
	12,266	38,850

Page 8

Impart Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 December 2018

8	Related party transactions

Transactions with directors

2018	At 1 January 2018 £	Advances to directors £	Repayments by director £	At 31 December 2018 £
Mr M H Eaton
Director's loan account	2,208	14,338	(2,208)	14,338

2017	Advances to directors £	At 31 December 2017 £
Mr M H Eaton
Director's loan account	2,208	2,208

The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis. The loan was repaid shortly after the year end.

Page 9