IPA CONSULTANCY LTD - Period Ending 2016-05-31

Registration number: 08052578

IPA CONSULTANCY LTD

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

DAVID J EVANS LTD
1 Kirton Grove
Solihull
West Midlands
B91 3NW

IPA CONSULTANCY LTD
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
IPA CONSULTANCY LTD
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IPA CONSULTANCY LTD for the year ended 31 May 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of IPA CONSULTANCY LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of IPA CONSULTANCY LTD and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IPA CONSULTANCY LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IPA CONSULTANCY LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of IPA CONSULTANCY LTD. You consider that IPA CONSULTANCY LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of IPA CONSULTANCY LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DAVID J EVANS LTD
1 Kirton Grove
Solihull
West Midlands
B91 3NW

9 December 2016

Page 1

IPA CONSULTANCY LTD
(Registration number: 08052578)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					219			1,272
Current assets
Debtors		3			4,102			1,500
Cash at bank and in hand					20,036			6,062
					24,138			7,562
Creditors: Amounts falling due within one year					(3,943)			(487)
Net current assets					20,195			7,075
Net assets					20,414			8,347
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					20,314			8,247
Shareholders' funds					20,414			8,347

For the year ending 31 May 2016 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 9 December 2016

.........................................
Ian Paul Aspley
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

IPA CONSULTANCY LTD
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of goods and services to customers

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	50% straight line basis

Foreign currency

Profit and loss transactions in foreign currencies are transalated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are transalated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		3,969			3,969
At 31 May 2016		3,969			3,969
Depreciation
At 1 June 2015		2,697			2,697
Charge for the year		1,053			1,053
At 31 May 2016		3,750			3,750
Net book value
At 31 May 2016		219			219
At 31 May 2015		1,272			1,272

Page 3

IPA CONSULTANCY LTD
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

3

Debtors

Debtors includes £nil (2015 - £1,500) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4