IPA CONSULTANCY LTD - Period Ending 2018-05-31
IPA CONSULTANCY LTD - Period Ending 2018-05-31
Registration number:
IPA CONSULTANCY LTD
for the Year Ended 31 May 2018
1 Kirton Grove
Solihull
West Midlands
B91 3NW
IPA CONSULTANCY LTD
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
IPA CONSULTANCY LTD
Company Information
Director |
Ian Paul Aspley |
Registered office |
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Accountants |
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Page 1 |
IPA CONSULTANCY LTD
Director's Report for the Year Ended 31 May 2018
The director presents his report and the abridged financial statements for the year ended 31 May 2018.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is management consultancy
Going concern
The company ceased trading with effect from 31st May 2018 and an application to strike off the company will be made to Co House after the filing of these accounts and the receipt of monies due from HMRC in respect of a refund of corporation tax
Small companies provision statement
This report has 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.
Approved by the
.........................................
Director
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
IPA CONSULTANCY LTD
for the Year Ended 31 May 2018
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 2018 as set out on pages 4 to 8 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 the Board of Directors of IPA CONSULTANCY LTD, 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 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 loss 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.
......................................
Solihull
West Midlands
B91 3NW
Page 3 |
IPA CONSULTANCY LTD
(Registration number: 08052578)
Abridged Balance Sheet as at 31 May 2018
Note |
2018 |
2017 |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 4 |
IPA CONSULTANCY LTD
(Registration number: 08052578)
Abridged Balance Sheet as at 31 May 2018
Approved and authorised by the
.........................................
Director
Page 5 |
IPA CONSULTANCY LTD
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
These financial statements were authorised for issue by the
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 abridged 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 abridged 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.
Going concern
The company ceased trading with effect from 31st May 2018 and an application to strike off the company will be made to Co House after the filing of these accounts and the receipt of monies due from HMRC in respect of a refund of corporation tax
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Page 6 |
IPA CONSULTANCY LTD
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
Office equipment |
straight line, 50% |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
IPA CONSULTANCY LTD
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 June 2017 |
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At 31 May 2018 |
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Depreciation |
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At 1 June 2017 |
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At 31 May 2018 |
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Carrying amount |
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At 31 May 2018 |
- |
- |
Creditors: amounts falling due within one year |
Includes director's loans totalling £14 (2018); £4,813 (2017)
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Page 8 |