Registered number
06577668
IPS Umbrella Limited
Report and Accounts
31 December 2022
IPS Umbrella Limited
Registered number: 06577668
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Current assets
Debtors 3 246,402 263,510
Cash at bank and in hand 470,090 402,804
716,492 666,314
Creditors: amounts falling due within one year 4 (706,256) (661,632)
Net current assets 10,236 4,682
Net assets 10,236 4,682
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 8,236 2,682
Shareholders' funds 10,236 4,682
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M J Hall C Champion
Director Director
Approved by the board on 29 September 2023
IPS Umbrella Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 80 13
3 Debtors 2022 2021
£ £
Amounts owed by related parties 194,474 208,829
Other debtors 51,928 54,681
246,402 263,510
4 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 26,551 980
Other taxes and social security costs 679,705 660,652
706,256 661,632
5 Related party transactions
The directors are also the controlling parties by virtue of their ownership of 100% of the issued share capital in the company.

The following companies are under common ownership and control: Income Plus Services Limited, IPS Umbrella Medical Limited, IPS 2 Limited, IPS Progression Limited, Island Payroll Services Limited. Transactions and loan balances between the company and these entities are listed below.
6 Other information
IPS Umbrella Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 114
Business First Business Centre
25 Goodlass Road
Liverpool
L24 9HJ
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