Innecto People Consulting Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04741738 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

INNECTO PEOPLE CONSULTING LIMITED

TRADING AS

INNECTO REWARD CONSULTING

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C Rees

D K Frost

J L Woolf

T Morgan

SECRETARY:

D K Frost

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

04741738 (England and Wales)

ACCOUNTANTS:

Dennis & Turnbull

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Intangible assets

4

105,354

25,900

Tangible assets

5

3,797

4,810

109,151

30,710

CURRENT ASSETS

Debtors

6

279,417

228,136

Cash at bank and in hand

270,951

179,115

550,368

407,251

CREDITORS

Amounts falling due within one year

7

281,364

170,299

NET CURRENT ASSETS

269,004

236,952

TOTAL ASSETS LESS CURRENT LIABILITIES

378,155

267,662

PROVISIONS FOR LIABILITIES

(497

)

(694

)

ACCRUALS AND DEFERRED INCOME

(7,416

)

-

NET ASSETS

370,242

266,968

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8

370,240

266,966

SHAREHOLDERS' FUNDS

370,242

266,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 11 December 2017 and were signed on its behalf by:

D C Rees - Director

D K Frost - Director

1.	STATUTORY INFORMATION

Innecto People Consulting Limited 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.

Turnover

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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, was amortised

evenly over its estimated useful life of ten years.The goodwill is fully amortised.

Website

The cost to the company for their website development is being amortised on a straight line basis

over 3 years.

Tangible fixed assets

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

Plant and machinery etc

-

25% straight line basis

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2016

30,000

26,640

56,640

Additions

-

108,718

108,718

At 31 March 2017

30,000

135,358

165,358

AMORTISATION

At 1 April 2016

30,000

740

30,740

Charge for year

-

29,264

29,264

At 31 March 2017

30,000

30,004

60,004

NET BOOK VALUE

At 31 March 2017

-

105,354

105,354

At 31 March 2016

-

25,900

25,900

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

4,914

Additions

240

At 31 March 2017

5,154

DEPRECIATION

At 1 April 2016

104

Charge for year

1,253

At 31 March 2017

1,357

NET BOOK VALUE

At 31 March 2017

3,797

At 31 March 2016

4,810

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

273,939

222,508

Other debtors

5,478

5,628

279,417

228,136

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

22,937

31,577

Taxation and social security

121,410

117,067

Other creditors

137,017

21,655

281,364

170,299

8.

RESERVES

Retained

earnings

£

At 1 April 2016

266,966

Profit for the year

298,998

Dividends

(195,724

)

At 31 March 2017

370,240

9.	RELATED PARTY DISCLOSURES

During the year the company entered into transactions with the following related parties. The price

charged was the normal market price in the case of each individual transaction.

Name of related party

Nature of relationship

Transaction details

Income / (Expense)

£

D K Rees

Director/shareholder

Dividends

(109,128)

D C Rees

Director/shareholder

Dividends

(86,596)