Hi-Impact Consultancy Limited - Period Ending 2018-03-31

Company registration number: 06704406

Hi-Impact Consultancy Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2018

Abrams Ashton
Chartered Accountants
77 Corporation Street
St Helens
Merseyside
WA10 1SX

Hi-Impact Consultancy Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 8

Hi-Impact Consultancy Limited

Company Information

Director

Mr AM Thompson

Company secretary

Mrs V Thompson

Registered office

Innovation House Power Road Bromborough Wirral CH62 3QT

Accountants

Abrams Ashton Chartered Accountants 77 Corporation Street St Helens Merseyside WA10 1SX

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hi-Impact Consultancy Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hi-Impact Consultancy Limited for the year ended 31 March 2018 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Hi-Impact Consultancy Limited, 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 Hi-Impact Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of Hi-Impact Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hi-Impact Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hi-Impact Consultancy Limited 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 Hi-Impact Consultancy Limited. You consider that Hi-Impact Consultancy Limited 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 Hi-Impact Consultancy Limited. 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.

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

Abrams Ashton
Chartered Accountants
77 Corporation Street
St Helens
Merseyside
WA10 1SX

16 August 2018

Page 2

Hi-Impact Consultancy Limited

(Registration number: 06704406)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	374,207	387,300
Current assets
Stocks		48,527	39,100
Debtors	5	128,358	89,409
Cash at bank and in hand		67,901	35,175
		244,786	163,684
Creditors: Amounts falling due within one year	6	(174,395)	(136,746)
Net current assets		70,391	26,938
Total assets less current liabilities		444,598	414,238
Creditors: Amounts falling due after more than one year	6	(183,019)	(193,041)
Provisions for liabilities		(8,343)	(9,984)
Net assets		253,236	211,213
Capital and reserves
Called up share capital		8	8
Profit and loss account		253,228	211,205
Total equity		253,236	211,213

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 3

Hi-Impact Consultancy Limited

(Registration number: 06704406)
Balance Sheet as at 31 March 2018

Approved and authorised by the director on 16 August 2018
 

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

Mr AM Thompson

Director

The notes on pages 5 to 8 form an integral part of these financial statements.

Page 4

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Innovation House
Power Road
Bromborough
Wirral
CH62 3QT

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the sale of goods and services net of value added tax, returns, rebates and discounts. Sales of goods and services are recognised when the company has delivered the goods and services to the customers and they are accepted.

Government grants

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from carrying amount of the asset.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Page 5

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line
Equipment	25% reducing balance
Fixtures and fittings	15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2017 - 27).

Page 6

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Equipment £	Total £
Cost or valuation
At 1 April 2017	342,917	10,060	98,485	451,462
Additions	-	-	7,759	7,759
At 31 March 2018	342,917	10,060	106,244	459,221
Depreciation
At 1 April 2017	6,780	2,539	54,843	64,162
Charge for the year	6,858	1,127	12,867	20,852
At 31 March 2018	13,638	3,666	67,710	85,014
Carrying amount
At 31 March 2018	329,279	6,394	38,534	374,207
At 31 March 2017	336,137	7,521	43,642	387,300

5

Debtors

	2018 £	2017 £
Trade debtors	66,634	72,307
Other debtors	61,724	17,102
	128,358	89,409

Page 7

Hi-Impact Consultancy Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

6

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts		10,113	10,113
Trade creditors		42,629	15,419
Other creditors		121,653	111,214
		174,395	136,746

Creditors include bank loans which are secured with fixed and floating charges over the assets of the company of £10,113 (2017 - £10,113).

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings		183,019	193,041

Creditors include bank loans which are secured with fixed and floating charges over the assets of the company of £183,019 (2017 - £193,041).

Borrowings due after five years

Included within creditors falling due after more than one year is an amount of £142,565 (2017 (152,587) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Page 8