The Ipswich Disabled Advice Bureau
The Ipswich Disabled Advice Bureau
Registered number: 03174876
Unaudited Financial Statements
For The Year Ended
31 March 2022
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
The Ipswich Disabled Advice Bureau
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
The Ipswich Disabled Advice Bureau
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
03174876
For the year ending 31 March 2022 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.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible 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)/ASSETS |
( |
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| RESERVES | |||||
| Other reserves |
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| Income and Expenditure Account |
( |
( |
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| MEMBERS' FUNDS | (7,358) | 21,232 | |||
The Ipswich Disabled Advice Bureau
Balance Sheet (continued)
As at
31 March 2022
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 and Expenditure Account.
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.
The Ipswich Disabled Advice Bureau
Notes to the Financial Statements
For The Year Ended
31 March 2022
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.
Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
1.3.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Fixtures & Fittings |
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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.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 9 (2021: 8)
The Ipswich Disabled Advice Bureau
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
3.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Government grants after one year |
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7.
Capital Grants
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Balance at
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1,080 | 1,311 | |
| Increase / (Decrease) in the year | (231) | (231) | |
| Balance at
|
849 | 1,080 | |
The Ipswich Disabled Advice Bureau
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
8.
Contingent Liabilities
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| At the end of the period |
|
3,768 | |
The company had contingent liabilities in respect of disputed legal fees. The case against the company has now been dropped.
9.
Capital Commitments
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
10.
Related Party Transactions
The charitable company had the following related party transactions with the charitable company's manager:
2022
Loan to charitable company £ 6,500
Salary payments not drawn in year £ 3,321
Loan to charitable company c/fwd £ 9,821
2021
Loan to charitable company £ 6,500
Salary payments not drawn in year£ 4,465
Loan to charitable company c/fwd £10,965
11.
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 £10.
12.
General Information
The Ipswich Disabled Advice Bureau
is a private company, limited by guarantee, incorporated in England & Wales, registered number
03174876
. The registered office is 19 Tower Street, Ipswich, Suffolk, IP1 3BE.