Company Registration No. 04897402 (England and Wales)
IPEX Consulting Limited
Unaudited accounts
for the year ended 31 August 2022
IPEX Consulting Limited
Unaudited accounts
Contents
IPEX Consulting Limited
Company Information
for the year ended 31 August 2022
Directors
Malcolm Wilson
Thomas Hopkins
Christopher Hoskin
Elizabeth Clare Kissane
Robert Clayton
Company Number
04897402 (England and Wales)
Registered Office
Liberty House
222 Regent Street
London
W1B 5TR
Accountants
Multiply Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
IPEX Consulting Limited
Statement of financial position
as at 31 August 2022
Tangible assets
2,475
5,176
Cash at bank and in hand
758,182
586,166
Creditors: amounts falling due within one year
(317,451)
(193,859)
Net current assets
818,522
797,140
Total assets less current liabilities
820,997
802,316
Creditors: amounts falling due after more than one year
(163,281)
(225,272)
Provisions for liabilities
Net assets
657,245
576,060
Called up share capital
100
100
Profit and loss account
657,145
575,960
Shareholders' funds
657,245
576,060
For the year ending 31 August 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2023 and were signed on its behalf by
Malcolm Wilson
Director
Company Registration No. 04897402
IPEX Consulting Limited
Notes to the Accounts
for the year ended 31 August 2022
IPEX Consulting Limited is a private company, limited by shares, registered in England and Wales, registration number 04897402. The registered office is Liberty House, 222 Regent Street, London, W1B 5TR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line basis
Computer equipment
33% straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
IPEX Consulting Limited
Notes to the Accounts
for the year ended 31 August 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2021
999
15,695
16,694
Disposals
-
(2,350)
(2,350)
At 31 August 2022
999
13,345
14,344
At 1 September 2021
967
10,551
11,518
Charge for the year
33
2,668
2,701
On disposals
-
(2,350)
(2,350)
At 31 August 2022
1,000
10,869
11,869
At 31 August 2022
(1)
2,476
2,475
At 31 August 2021
32
5,144
5,176
Amounts falling due within one year
Trade debtors
277,241
269,956
Accrued income and prepayments
32,127
55,968
Other debtors
68,423
78,909
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
59,375
12,228
Trade creditors
54,971
40,694
Taxes and social security
107,237
123,849
Other creditors
1,319
1,815
Loans from directors
19,501
-
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
163,281
225,272
8
Operating lease commitments
2022
2021
At 31 August 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,760
8,640
IPEX Consulting Limited
Notes to the Accounts
for the year ended 31 August 2022
9
Average number of employees
During the year the average number of employees was 10 (2021: 13).
