Impact Data Metrics Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10739767 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

IMPACT DATA METRICS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr N D Murray

Dr G Wainwright

N M Ward

SECRETARY:

Dr G Wainwright

REGISTERED OFFICE:

12 Jordan Street

Office 08

Liverpool

L1 0BP

REGISTERED NUMBER:

10739767 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

5,613

3,739

CURRENT ASSETS

Debtors

5

3,240

14,005

Cash at bank and in hand

6,948

13,698

10,188

27,703

CREDITORS

Amounts falling due within one year

6

136,486

20,522

NET CURRENT (LIABILITIES)/ASSETS

(126,298

)

7,181

TOTAL ASSETS LESS CURRENT LIABILITIES

(120,685

)

10,920

CREDITORS

Amounts falling due after more than one year

7

25,000

-

NET (LIABILITIES)/ASSETS

(145,685

)

10,920

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

(145,697

)

10,908

SHAREHOLDERS' FUNDS

(145,685

)

10,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 26 June 2020 and were signed on its behalf by:

Dr N D Murray - Director

1.	STATUTORY INFORMATION

Impact Data Metrics Ltd 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.

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.

The company is dependent on the continuing support, both financial and management, of it's directors and

shareholders, who have confirmed their intention to do so for the coming 12 months.

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

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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets are stated at cost less depreciation and impairment.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower,

the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised

estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying

amount that would have been determined (net of depreciation) had no impairment loss been recognised for the

asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments

The company only holds basic financial instruments, as defined under Section 11 of FRS 102.

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost

using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad

and doubtful debts.

Short term financial liabilities, including trade and other creditors, overdrafts and related party loans, are

measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one

year shall be measured at the undiscounted amount due, those payable after one year should be measured at

amortised cost, using the effective interest rate method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

1,703

3,887

5,590

Additions

92

3,998

4,090

At 31 March 2020

1,795

7,885

9,680

DEPRECIATION

At 1 April 2019

491

1,360

1,851

Charge for year

258

1,958

2,216

At 31 March 2020

749

3,318

4,067

NET BOOK VALUE

At 31 March 2020

1,046

4,567

5,613

At 31 March 2019

1,212

2,527

3,739

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

3,240

11,683

Other debtors

-

2,322

3,240

14,005

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

16,667

-

Trade creditors

21,500

17,512

Taxation and social security

4,410

513

Other creditors

93,909

2,497

136,486

20,522

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

25,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

41,667

-

A bank loan is secured by way of a guarantee provided by the Directors.

9.	RELATED PARTY DISCLOSURES