IRIS Accounts Production v22.2.0.402 07242736 Board of Directors 1.1.21 31.12.21 31.12.21 8.9.22 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure072427362020-12-31072427362021-12-31072427362021-01-012021-12-31072427362019-12-31072427362020-01-012020-12-31072427362020-12-3107242736ns16:EnglandWales2021-01-012021-12-3107242736ns15:PoundSterling2021-01-012021-12-3107242736ns11:Director12021-01-012021-12-3107242736ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3107242736ns11:SmallEntities2021-01-012021-12-3107242736ns11:Audited2021-01-012021-12-3107242736ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3107242736ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3107242736ns11:AbridgedAccounts2021-01-012021-12-3107242736ns11:Director22021-01-012021-12-3107242736ns11:RegisteredOffice2021-01-012021-12-3107242736ns6:CurrentFinancialInstruments2021-12-3107242736ns6:CurrentFinancialInstruments2020-12-3107242736ns6:ShareCapital2021-12-3107242736ns6:ShareCapital2020-12-3107242736ns6:RetainedEarningsAccumulatedLosses2021-12-3107242736ns6:RetainedEarningsAccumulatedLosses2020-12-31
REGISTERED NUMBER: 07242736 (England and Wales)















IMPCOM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






IMPCOM LIMITED (REGISTERED NUMBER: 07242736)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


IMPCOM LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2021







DIRECTORS: Captain J C Berry
H G Doubtfire





REGISTERED OFFICE: The White House
Castle Road
Saltwood
Hythe
Kent
CT21 4QY





REGISTERED NUMBER: 07242736 (England and Wales)





AUDITORS: Hilden Park Accountants Limited
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

IMPCOM LIMITED (REGISTERED NUMBER: 07242736)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2021

31/12/21 31/12/20
£    £   
CURRENT ASSETS
Debtors 2,154 3,443
Cash at bank 24,543 19,480
26,697 22,923
CREDITORS
Amounts falling due within one year 7,048 8,659
NET CURRENT ASSETS 19,649 14,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,649

14,264

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 14,649 9,264
SHAREHOLDERS' FUNDS 19,649 14,264

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 8 September 2022 and were signed on its behalf by:





Captain J C Berry - Director


IMPCOM LIMITED (REGISTERED NUMBER: 07242736)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021


1. STATUTORY INFORMATION

Impcom 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents net commissions received on brokerage of insurance policies.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

IMPCOM LIMITED (REGISTERED NUMBER: 07242736)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued

Insurance broking assets and liabilities
The company acts as an agent in the broking of insurance. In general the company is not liable as principal for premiums due to underwriters or for claims payable to clients. Notwithstanding these legal relationships, cash, debtors and creditors relating to insurance broking are shown as assets and liabilities of the company because they the provide the insurance broker with access to future economic benefits and, such meet the definition of assets and liabilities set out in Financial Reporting Standard 5 "Reporting the substance of transactions". FRS 5 require that offset of assets and liabilities should be recognised in financial statements where, and only where, the offset would survive the insolvency of the other party. Accordingly only such offsets have been recognised in calculating insurance broking debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul K. Matthews (Senior Statutory Auditor)
for and on behalf of Hilden Park Accountants Limited

5. RELATED PARTY DISCLOSURES

During the year, the Company paid £24,169 (2020: £50,908) in gross premiums to JM Marketing Limited, a company which own 55% of the share capital of Impcom Limited. At 31 December 2021 the company owed JM Marketing Limited £4,934 (2020: £6,671).

6. ULTIMATE CONTROLLING PARTY

JM Marketing Limited is the controlling party of Impcom Limited by virtue of their 55% shareholding. Consolidated group accounts are prepared for this company and are available from the registered office, The White House, Castle Road Saltwood, Hythe, Kent, CT21 4QY.

JMM Group Holdings Limited (incorporated in the UK) is regarded by the directors as being the company's ultimate parent company . No consolidated financial statements are prepared for this company.

7. INSURANCE BALANCES

2021 2020

£    £   
Gross insurance debtors 2,154 3,443
Insurance cash at bank 13,018 9,647
Gross insurance creditors (5,785 ) (7,076 )
9,387 6,014