Institute Of Administrative Management
Institute Of Administrative Management
Registered number: 09016031
Unaudited Financial Statements
For the Period
1 July 2020
to
31 August 2021
Institute Of Administrative Management
Unaudited Financial Statements
For the Period
1 July 2020
to
31 August 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—5 |
Institute Of Administrative Management
Statement of Financial Position
As at
31 August 2021
Statement of Financial Position
Registered number:
09016031
For the period ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 31 August 2021 | 30 June 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| Income Statement |
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| MEMBERS' FUNDS | (9,097) | (3,934) | |||
Institute Of Administrative Management
Statement of Financial Position (continued)
As at
31 August 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Institute Of Administrative Management
Notes to the Financial Statements
For the Period
1 July 2020
to
31 August 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income and expenditure account over its estimated economic life of 5 years.
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.5.
Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2020: 3)
Institute Of Administrative Management
Notes to the Financial Statements (continued)
For the Period
1 July 2020
to
31 August 2021
3.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Additions |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| 31 August 2021 | 30 June 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | - | 968 | |
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| Due after more than one year | |||
| Amounts owed by participating interests | 8,000 | - | |
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5.
Creditors: Amounts Falling Due Within One Year
| 31 August 2021 | 30 June 2020 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 3,187 | 309 | |
| Taxation and social security | 6,969 | 9,238 | |
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Institute Of Administrative Management
Notes to the Financial Statements (continued)
For the Period
1 July 2020
to
31 August 2021
6.
Creditors: Amounts Falling Due After More Than One Year
| 31 August 2021 | 30 June 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts owed to group undertakings | 51,717 | - | |
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7.
Related Party Transactions
At year end:
-a- debtors includes £8,000 owed to The Quality Development Group Ltd, an associated company.
-b- creditors includes £51,717 owed from Global Education and Certification Service, the holding company
8.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9.
Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is
Global Education and Certification Service
.
Global Education and Certification Service
was incorporated in England. The ultimate controlling parties are
Dr Hemin Najmadden and Mr John Butterfield
.
10.
General Information
Institute Of Administrative Management
is a private company, limited by guarantee, incorporated in England & Wales, registered number
09016031
. The registered office is 3 Manor Farm Offices, Churchend Lane, Charfield, GL12 8LJ.
On the 11 September 2020 Global Education and Certification Services (registration number 11486168) acquired control of the company.
Company has changed its registered address from Chargrove House Main Road Shurdington Cheltenham GL51 4GA to 3 Manor Farm Offices Churchend Lane Charfield GL12 8LJ on 9 October 2020.
On the 11 September 2020 Global Education and Certification Services (registration number 11486168) acquired control of the company.
Company has changed its registered address from Chargrove House Main Road Shurdington Cheltenham GL51 4GA to 3 Manor Farm Offices Churchend Lane Charfield GL12 8LJ on 9 October 2020.