Institute Of Administrative Management - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09016031 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

INSTITUTE OF ADMINISTRATIVE MANAGEMENT

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R D Clarke

P R Mills

SECRETARY:

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

BUSINESS ADDRESS:

Suite 4.02

Grosvenor House

Central Park

Telford

Shropshire

TF2 9TW

REGISTERED NUMBER:

09016031 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

167

1,323

CURRENT ASSETS

Debtors

5

-

3,380

Cash at bank

1

-

1

3,380

CREDITORS

Amounts falling due within one year

6

255,262

228,615

NET CURRENT LIABILITIES

(255,261

)

(225,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(255,094

)

(223,912

)

RESERVES

Income and expenditure account

(255,094

)

(223,912

)

(255,094

)

(223,912

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 14 January 2019 and were signed on its behalf by:

P R Mills - Director

1.	STATUTORY INFORMATION

Institute Of Administrative Management is a private company, limited by guarantee , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents invoiced good and services provided and revenue is recognised when

membership subscriptions are paid.

Development costs

Development costs are amortised over a 3 year period.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in

FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective

interest method.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have considered the risks and issues concerning the company and it's activities and

have identified material uncertainties that may cast significant doubt about the company's ability to

continue as a going concern. These uncertainties are described in the notes to the financial statements

along with the reason for preparing the accounts on a going concern basis.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2017

and 30 April 2018

3,502

AMORTISATION

At 1 May 2017

2,179

Charge for year

1,156

At 30 April 2018

3,335

NET BOOK VALUE

At 30 April 2018

167

At 30 April 2017

1,323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

-

3,380

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

255,262

228,615

7.	RELATED PARTY DISCLOSURES

Industry Qualifications Limited

A company in which Mr R Clarke is a director.

Amount owed to the related party at the balance sheet reference date was £ 255,262 - (2017

£228,615).

8.	LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital. In the event of the company being

wound up, every member undertakes to contribute to the assets of the company any such amount as

may be required, not exceeding £1.

9.	GOING CONCERN

The company had net liabilities of £255,094 at 30 April 2018 and made a net deficit for the year to 30

April 2018 of £31,182. The company has continued to operate because of the ongoing support of a

related party, Industry Qualifications Ltd (IQL). The board of Industrial Qualifications Ltd has indicated

its intention to support the Institute of Administrative Management (IAM) but there are also

uncertainties over the future of IQL.

The directors of IQL are working to secure funding to ensure the company can continue for the

foreseeable future and continue to support IAM. The directors of IAM have prepared these financial

statements on a going concern basis having assessed the likelihood that funding will be secured by

IQL.