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No description of principal activity
2017-03-01
Sage Accounts Production Advanced 2018 - FRS
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04604312
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04604312
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2018-02-28
04604312
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2018-02-28
04604312
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2017-02-28
04604312
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04604312
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2017-02-28
04604312
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2018-02-28
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04604312
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2017-02-28
04604312
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2017-02-28
04604312
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2017-02-28
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2018-02-28
COMPANY REGISTRATION NUMBER:
04604312
Impact Services Northern Limited
|
|
Unaudited Financial Statements
|
|
Impact Services Northern Limited
|
|
Year ended 28 February 2018
Officers and professional advisers
|
1
|
|
|
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
Impact Services Northern Limited
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Mr A Platt
|
|
Mr S McBride
|
|
|
Company secretary
|
Mr S McBride
|
|
|
Registered office
|
11-13 Hanover Street
|
|
Liverpool
|
|
L1 3DN
|
|
|
Accountants
|
ERC Accountants & Business Advisers Limited
|
|
Chartered Accountants
|
|
Hanover Buildings
|
|
11-13 Hanover Street
|
|
Liverpool
|
|
L1 3DN
|
|
|
Bankers
|
National Westminister Bank PLC
|
|
Castle Street
|
|
Liverpool
|
|
|
|
Royal Bank of Scotland PLC
|
|
Spinningfields Square
|
|
Manchester
|
|
|
Impact Services Northern Limited
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Impact Services Northern Limited
|
|
Year ended 28 February 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Impact Services Northern Limited for the year ended 28 February 2018, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Impact Services Northern Limited, as a body, in accordance with the terms of our engagement letter dated 10 January 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Impact Services Northern Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Impact Services Northern Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Impact Services Northern Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Impact Services Northern Limited. You consider that Impact Services Northern 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 financial statements of Impact Services Northern 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 financial statements.
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
L1 3DN
30 November 2018
Impact Services Northern Limited
|
|
Statement of Financial Position
|
|
28 February 2018
Fixed assets
Tangible assets
|
5
|
|
30,538
|
38,946
|
|
|
|
|
|
Current assets
Debtors
|
6
|
1,557,417
|
|
1,851,044
|
Cash at bank and in hand
|
59,960
|
|
109,991
|
|
------------
|
|
------------
|
|
1,617,377
|
|
1,961,035
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
1,407,149
|
|
1,694,282
|
|
------------
|
|
------------
|
Net current assets
|
|
210,228
|
266,753
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
240,766
|
305,699
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
|
19,111
|
10,190
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
(
2,782)
|
(
3,648)
|
|
|
---------
|
---------
|
Net assets
|
|
218,873
|
291,861
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
218,773
|
291,761
|
|
|
---------
|
---------
|
Shareholders funds
|
|
218,873
|
291,861
|
|
|
---------
|
---------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Impact Services Northern Limited
|
|
Statement of Financial Position (continued)
|
|
28 February 2018
These financial statements were approved by the
board of directors
and authorised for issue on
30 November 2018
, and are signed on behalf of the board by:
MR S McBRIDE Director
Company registration number:
04604312
Impact Services Northern Limited
|
|
Notes to the Financial Statements
|
|
Year ended 28 February 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11-13 Hanover Street, Liverpool, L1 3DN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, together with service contract revenue which is recognised as contractual activity progresses, and is derived from the ordinary activities of the company which is that of the provision of security services. Revenue is recognised on the completion of services on an accruals basis.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery
|
-
|
25% reducing balance
|
|
Fixtures and fittings
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
320
(2017:
300
).
5.
Tangible assets
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
At 1 March 2017
|
9,210
|
74,581
|
70,759
|
154,550
|
Additions
|
–
|
323
|
5,603
|
5,926
|
Disposals
|
–
|
–
|
(
7,386)
|
(
7,386)
|
|
-------
|
--------
|
--------
|
---------
|
At 28 February 2018
|
9,210
|
74,904
|
68,976
|
153,090
|
|
-------
|
--------
|
--------
|
---------
|
Depreciation
|
|
|
|
|
At 1 March 2017
|
8,906
|
70,616
|
36,082
|
115,604
|
Charge for the year
|
76
|
1,072
|
9,031
|
10,179
|
Disposals
|
–
|
–
|
(
3,231)
|
(
3,231)
|
|
-------
|
--------
|
--------
|
---------
|
At 28 February 2018
|
8,982
|
71,688
|
41,882
|
122,552
|
|
-------
|
--------
|
--------
|
---------
|
Carrying amount
|
|
|
|
|
At 28 February 2018
|
228
|
3,216
|
27,094
|
30,538
|
|
-------
|
--------
|
--------
|
---------
|
At 28 February 2017
|
304
|
3,965
|
34,677
|
38,946
|
|
-------
|
--------
|
--------
|
---------
|
|
|
|
|
|
6.
Debtors
Trade debtors
|
1,311,004
|
1,719,560
|
Other debtors
|
246,413
|
131,484
|
|
------------
|
------------
|
|
1,557,417
|
1,851,044
|
|
------------
|
------------
|
|
|
|
7.
Creditors:
amounts falling due within one year
Bank loans and overdrafts
|
10,676
|
–
|
Trade creditors
|
222,056
|
261,750
|
Corporation tax
|
5,836
|
140,236
|
Social security and other taxes
|
359,590
|
443,437
|
Other creditors
|
495,208
|
456,656
|
Other creditors
|
313,783
|
392,203
|
|
------------
|
------------
|
|
1,407,149
|
1,694,282
|
|
------------
|
------------
|
|
|
|
The hire purchase liabilities of £13,264 included within other creditors are secured against the assets held under hire purchase. The Royal Bank of Scotland invoice discounting liability of £452,809 included within other creditors is secured.
8.
Creditors:
amounts falling due after more than one year
Bank loans and overdrafts
|
18,545
|
–
|
Other creditors
|
566
|
10,190
|
|
--------
|
--------
|
|
19,111
|
10,190
|
|
--------
|
--------
|
|
|
|
The hire purchase liabilities of £566 included within other creditors are secured against the assets held under hire purchase.
9.
Commitments under operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
Later than 1 year and not later than 5 years
|
69,158
|
60,777
|
|
--------
|
--------
|
|
|
|
10.
Directors' advances, credits and guarantees
The directors' received an advance of £676 during the current financial year. The advance carried forward at the year end date is £4,968. The maximum overdrawn balance during the year was £4,968. The loan was interest free and repayable on demand.
11.
Related party transactions
The following related party transactions were undertaken during the year: Dividends were paid to the directors in respect of their shareholders totalling £99,800 (2017: 76,000). The aggregate remuneration paid to key management personnel for the year was £21,264 (2017: £14,844). No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.