Hi-Impact Consultancy Limited - Period Ending 2019-03-31

Company registration number: 06704406

Hi-Impact Consultancy Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2019

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

Hi-Impact Consultancy Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 8

Hi-Impact Consultancy Limited

Company Information

Director

Mr A M Thompson

Company secretary

Mrs V Thompson

Registered office

Innovation House Power Road Bromborough Wirral CH62 3QT

Accountants

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

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hi-Impact Consultancy Limited
for the Year Ended 31 March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hi-Impact Consultancy Limited for the year ended 31 March 2019 as set out on pages 3 to 8 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 Hi-Impact 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 Hi-Impact Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Hi-Impact 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 Hi-Impact Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hi-Impact 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 Hi-Impact Consultancy Limited. You consider that Hi-Impact 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 Hi-Impact 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 Limited
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

22 October 2019

Page 2

Hi-Impact Consultancy Limited

(Registration number: 06704406)
Balance Sheet as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	365,538	374,207
Current assets
Stocks		51,688	48,527
Debtors	5	160,069	128,358
Cash at bank and in hand		317,038	67,901
		528,795	244,786
Creditors: Amounts falling due within one year	6	(232,607)	(174,395)
Net current assets		296,188	70,391
Total assets less current liabilities		661,726	444,598
Creditors: Amounts falling due after more than one year	6	(172,963)	(183,019)
Provisions for liabilities		(8,034)	(8,343)
Net assets		480,729	253,236
Capital and reserves
Called up share capital		8	8
Profit and loss account		480,721	253,228
Total equity		480,729	253,236

For the financial year ending 31 March 2019 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; and
•	The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 3

Hi-Impact Consultancy Limited

(Registration number: 06704406)
Balance Sheet as at 31 March 2019

Approved and authorised by the director on 8 October 2019
 

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

Mr A M Thompson
Director

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 4

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

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:
Innovation House
Power Road
Bromborough
Wirral
CH62 3QT

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

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the sale of goods and services net of value added tax, returns, rebates and discounts. Sales of goods and services are recognised when the company has delivered the goods and services to the customers and they are accepted.

Government grants

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from carrying amount of the asset.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Page 5

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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
Land and buildings	2% straight line
Equipment	25% reducing balance
Fixtures and fittings	15% reducing balance

Research and development costs

Research and development expenditure is written off in the period in which it is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 34 (2018 - 31).

Page 6

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Equipment £	Total £
Cost or valuation
At 1 April 2018	342,917	10,060	106,244	459,221
Additions	-	1,707	9,803	11,510
At 31 March 2019	342,917	11,767	116,047	470,731
Depreciation
At 1 April 2018	13,638	3,666	67,710	85,014
Charge for the year	6,858	1,217	12,104	20,179
At 31 March 2019	20,496	4,883	79,814	105,193
Carrying amount
At 31 March 2019	322,421	6,884	36,233	365,538
At 31 March 2018	329,279	6,394	38,534	374,207

5

Debtors

	2019 £	2018 £
Trade debtors	135,844	66,634
Other debtors	24,225	61,724
	160,069	128,358

Page 7

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

6

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Bank loans and overdrafts		10,174	10,113
Trade creditors		91,564	42,629
Other creditors		130,869	121,653
		232,607	174,395

Creditors include bank loans which are secured with fixed and floating charges over the assets of the company of £10,174 (2018 - £10,113).

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings		172,963	183,019

Creditors include bank loans which are secured with fixed and floating charges over the assets of the company of £172,963 (2018 - £183,019).

Borrowings due after five years

Included within creditors falling due after more than one year is an amount of £132,269 (2018 £142,565) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Page 8