Investors in Excellence Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06253828 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

INVESTORS IN EXCELLENCE LIMITED

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Mrs J Hart

K Hart

SECRETARY:

Mrs J Hart

REGISTERED OFFICE:

Empress House

43A Binley Road

Coventry

CV3 1HU

REGISTERED NUMBER:

06253828 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants and Registered Auditors

Empress House

43A Binley Road

Coventry

CV3 1HU

The directors present their report with the financial statements of the company for the year ended 31 March 2019.

REVIEW OF BUSINESS

Global Market Appreciation

Investors in Excellence (IiE) is a business in transition and transformation from its original identity of award and

assessment to one of strategic expansion with new products and services into new and emerging markets. Mrs Hart

inherited a core product, the Investors in Excellence Standard, that had not been updated since its original development

in 2002 and with a database of IiE organisations who faced continued austerity cuts and BREXIT uncertainty. Research

confirmed that competitor models of award and assessment had all suffered significant loss of business as the pivotal

focus of clientèle moved away from 'badges' and accreditations to establishing greater internalisation of improvement

activities seeking products and services of greater relevance, value for money, delivering outcomes.

Integrated Response

In 2017 , IiE began a thorough competitor analysis worldwide and used its own framework to undertake a radical review

of the existing business to set out its strategic direction for the future, a complete refresh of existing products and

services, including a total revision of the IiE Standard, its supporting assessment process as well as reviewing the

capability of those associates in the network to deliver a process fit for the future and for global operation. The

engagement of MD and Programme Director Kevin Hart MA SHRM BA MCIPD has been instrumental in this review and

development of a whole range of new courses at level 7 learning as well as a fresh new business framework, mature

and progressive, adopting a capability maturity model integration (CMMI) approach incorporating 8 levels of

organisational performance.

Forward Focused

The result is a business now fit for growth. A restatement of its purpose 'to be a global leader in operational and

organisational excellence, mature and progressive, Principles-led, Evidence-based, Outcomes-driven, all

Research-informed. IiE is the specialist in organisational development, performance improvement and sustainable

growth with strategically-based Solutions Teams of subject matter experts capable of product development and delivery

in UK and globally'.

Strategic excellence objectives in focus, adopting greater digital delivery methods and an expanded suite of products

and services, IiE is firm in the global marketplace with robust leadership and core products of the highest quality

available for business development to organisations irrespective of complexity, size or location. The extension of

services will create Centres of Excellence and opportunities to license the IiE Standard worldwide.

DIRECTORS

Mrs J Hart has held office during the whole of the period from 1 April 2018 to the date of this report.

Other changes in directors holding office are as follows:

K Hart - appointed 29 March 2019

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs J Hart - Director

5 December 2019

TURNOVER

47,237

83,015

Cost of sales

6,054

11,712

GROSS PROFIT

41,183

71,303

Administrative expenses

41,085

49,608

98

21,695

Other operating income

-

5,100

OPERATING PROFIT

4

98

26,795

Interest receivable and similar income

-

6

PROFIT BEFORE TAXATION

98

26,801

Tax on profit

50

3,435

PROFIT FOR THE FINANCIAL YEAR

48

23,366

Retained earnings at beginning of year

39,471

26,105

Dividends

-

(10,000

)

RETAINED EARNINGS AT END OF YEAR

39,519

39,471

FIXED ASSETS

Tangible assets

5

68

719

CURRENT ASSETS

Debtors

6

5,940

12,840

Cash at bank

45,640

65,353

51,580

78,193

CREDITORS

Amounts falling due within one year

7

12,029

39,204

NET CURRENT ASSETS

39,551

38,989

TOTAL ASSETS LESS CURRENT LIABILITIES

39,619

39,708

PROVISIONS FOR LIABILITIES

-

137

NET ASSETS

39,619

39,571

CAPITAL AND RESERVES

Called up share capital

52

52

Capital redemption reserve

48

48

Retained earnings

39,519

39,471

SHAREHOLDERS' FUNDS

39,619

39,571

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 5 December 2019 and were signed on its behalf by:

Mrs J Hart - Director

1.	STATUTORY INFORMATION

Investors in Excellence 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 net invoiced sales of services, excluding value added tax. Turnover is recognised in the

accounting period in which the service is carried out.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Grant income

Where the company receives grant assistance as income, it will determine whether such income is to be treated

as revenue or as a credit against profit and loss expenses or a contribution against asset costs. The company

will account for any grant income on a matching basis against the appropriate cost in the appropriate period

irrespective of the date of receipt.

Work in progress

The company will account for any work in progress un-invoiced at an accounting date by evaluating the cost of

services provided to a client including the cost of any expenses incurred on behalf of that client and an

appropriate proportion of fixed and variable overheads applicable to the work.

Research and development

If the company becomes engaged in Research & Development programmes, expenditure made will be written

off within the accounting period incurred.

Pension costs & post retirement benefits

The company recognises its obligations to provide access for employees to a Stakeholder Pension Scheme.

Company contributions made towards any pension scheme will be made under Stakeholder rules & will be

accounted for in the accounting period in which premiums are paid. All pension fund accounts are held

separately from company assets and liabilities and the company has no liability actual or contingent to provide

any post retirement staff benefits in addition to this.

Taxation

Corporation Tax will be calculated for each accounting period based upon the results of the company for such

period and will be provided as an accrual within the relevant balance sheet as a liability.

Deferred taxation will be recognised in respect of all timing differences that have originated but not reversed in

any accounting period

Tangible fixed assets

The company will capitalise any expenditure incurred in acquiring additional assets or improving existing assets

where the aggregate total of such expenditure exceeds the sum of £1000. Assets disposed of in an accounting

period will be accounted for by deduction from asset cost & any depreciation provided to the date of disposal.

Any surplus or deficit on disposal will be disclosed in the profit & loss account.

Depreciation will be provided at the following annual rates which are considered appropriate in order to write off

each asset over its estimated useful life.

Office Equipment Straight line over 3 years

Assets capitalised under a finance lease arrangement will be written off over the lease term if less than its useful

life.

Intangible assets

The company will capitalise any expenditure incurred in acquiring additional intangible assets or improving

existing assets where the aggregate total of such expenditure exceeds the sum of £1000. Assets disposed of in

an accounting period will be accounted for by deduction from asset cost & any amortisation provided to the date

of disposal. Any surplus or deficit on disposal will be disclosed in the profit & loss account.

Amortisation will be provided at the following annual rates which are considered appropriate in order to write off

each asset over its estimated useful life.

Computer software Straight line over 3 years

Hire purchase and leasing

If the company acquires assets under hire purchase contracts or finance leases these will be capitalised in the

balance sheet. Depreciation will be provided on the assets in accordance with the Fixed Asset Policy.

Any interest element of hire purchase or lease obligations will be charged to the profit and loss account over the

relevant period(s). The capital element representing the extent of future payments will be treated as a liability.

Rental payments made under operating lease agreements will be charged against the profit and loss account on

a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2019

2018

£

£

Depreciation - owned assets

651

1,074

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2018

and 31 March 2019

12,052

DEPRECIATION

At 1 April 2018

11,333

Charge for year

651

At 31 March 2019

11,984

NET BOOK VALUE

At 31 March 2019

68

At 31 March 2018

719

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,940

12,840

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

4,060

Taxation and social security

1,892

7,793

Other creditors

10,137

27,351

12,029

39,204