Impact Contract Services Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06078987 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

Impact Contract Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D D Burnett

Mrs C Rao

REGISTERED OFFICE:

Delme 2

Delme Place

Cams Hall Estate

Fareham

Hampshire

PO16 8UX

REGISTERED NUMBER:

06078987 (England and Wales)

AUDITORS:

Ency Associates

Chartered Certified Accountants

& Statutory Auditors

Printware Court

Cumberland Business Centre

Northumberland Road

Portsmouth

Hampshire

PO5 1DS

ACCOUNTANTS:

Ency Associates

Chartered Certified Accountants

& Tax Advisors

Printware Court

Cumberland Business Centre

Portsmouth

PO5 1DS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

34

45

34

45

CURRENT ASSETS

Debtors

6

1,223,050

1,460,419

Cash at bank and in hand

3,388

143,470

1,226,438

1,603,889

CREDITORS

Amounts falling due within one year

7

1,000,138

1,344,293

NET CURRENT ASSETS

226,300

259,596

TOTAL ASSETS LESS CURRENT LIABILITIES

226,334

259,641

CREDITORS

Amounts falling due after more than one year

8

-

(150,000

)

PROVISIONS FOR LIABILITIES

(7

)

(10

)

NET ASSETS

226,327

109,631

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

226,227

109,531

SHAREHOLDERS' FUNDS

226,327

109,631

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 December 2017 and were signed on its behalf by:

D D Burnett - Director

1.	STATUTORY INFORMATION

Impact Contract Services 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of services provided, net of VAT, and the fair value of the right to

consideration in exchange for the performance of its contractual obligations.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

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 balance sheet date.

Deferred tax

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

at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

50,000

AMORTISATION

At 1 April 2016

and 31 March 2017

50,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

125

1,102

1,227

DEPRECIATION

At 1 April 2016

80

1,102

1,182

Charge for year

11

-

11

At 31 March 2017

91

1,102

1,193

NET BOOK VALUE

At 31 March 2017

34

-

34

At 31 March 2016

45

-

45

6.

DEBTORS

31.3.17

31.3.16

£

£

Amounts falling due within one year:

Trade debtors

887,632

632,586

Amounts owed by group undertakings

113,637

508,560

Other debtors

21,503

69,273

1,022,772

1,210,419

Amounts falling due after more than one year:

Amounts owed by group undertakings

200,278

250,000

Aggregate amounts

1,223,050

1,460,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

63,052

93,371

Amounts owed to group undertakings

161,565

536,420

Taxation and social security

132,954

43,662

Other creditors

642,567

670,840

1,000,138

1,344,293

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed to group undertakings

-

150,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Invoice discounting account

632,197

665,152

An all assets debenture in favour of Lloyds TSB Commercial Finance Ltd created on 30 September

2010 to the extent of all monies due or to become due from the company to the chargee under the

terms of the aforementioned instrument creating or evidencing the charge.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Alan R Ayling FCCA (Senior Statutory Auditor)

for and on behalf of Ency Associates

11.	CONTINGENT LIABILITIES

Lloyds TSB Commercial Finance have provided an invoice discounting service to On-Site Recruitment

Solutions Limited, On-Site Technical Limited, On-Site (London) Limited, and Impact Contract Services

Limited. The facility provided is a group facility with an aggregate review limit, at the Balance Sheet

date, of £4,500,000 and is secured by a cross guarantee between all four companies and The On-Site

Group Limited, the ultimate parent company.

A claim has been lodged against the parent company in respect of remedial costs relating to alleged

faulty work undertaken by a temporary worker placed by one of the group companies whilst under

the direct supervision of the client. This allegation has not been proven, nor has liability against the

company, should it be proven. Any financial outflow arising from this claim cannot be reliably

quantified, but the directors are of the opinion that the financial outflow will be £nil, but any actual

outflow may have implications across the group of companies as a whole.

12.	RELATED PARTY DISCLOSURES

Lloyds TSB Commercial Finance have provided an invoice discounting service to On-Site Recruitment

Solutions Limited, On-Site Technical Limited, On-Site (London) Limited, and Impact Contract Services

Limited. The monies advanced by Lloyds TSB Commercial Finance have been secured by way of a

debenture over the assets of On-Site Recruitment Solutions Limited, as well as cross guarantees

provided by The On-Site Group Limited, On-Site (London) Limited, Labour Only Construction Services

Limited (formerly On-Site Technical Limited), and Impact Contract Services Limited.

In addition to the cross guarantees provided, Mr D D Burnett and Mrs C Rao have also provided joint

and several personal guarantees.

The On-Site Group Ltd

Parent company

31.3.17

31.3.16

£

£

Amount due to related party at the balance sheet date

161,565

233,056

On-Site Recruitment Solutions Ltd

Subsidiary of The On-Site Group Ltd

31.3.17

31.3.16

£

£

Amount due from related party at the balance sheet date

200,278

758,560

On-Site (London) Ltd

Subsidiary of The On-Site Group Ltd

31.3.17

31.3.16

£

£

Amount due from/(to) related party at the balance sheet date

113,637

(453,364

)

13.	ULTIMATE CONTROLLING PARTY

The controlling party is D D Burnett.