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Registered number: 06051254
Ipconsult Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
MKL Accountants Limited
Chartered Certified Accountants
Herston Cross House
230 High Street
Swanage
Dorset
BH19 2PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06051254
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 62,885 62,885
Tangible Assets 5 155,133 1,928
218,018 64,813
CURRENT ASSETS
Debtors 6 75,768 80,228
Cash at bank and in hand 169,616 202,399
245,384 282,627
Creditors: Amounts Falling Due Within One Year 7 (151,387 ) (155,189 )
NET CURRENT ASSETS (LIABILITIES) 93,997 127,438
TOTAL ASSETS LESS CURRENT LIABILITIES 312,015 192,251
Creditors: Amounts Falling Due After More Than One Year 8 (62,505 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,587 ) (482 )
NET ASSETS 247,923 191,769
CAPITAL AND RESERVES
Called up share capital 9 300 300
Profit and Loss Account 247,623 191,469
SHAREHOLDERS' FUNDS 247,923 191,769
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Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Neville Walker
Director
25/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ipconsult Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06051254 . The registered office is Taunton Chambers, Taunton Road, Swanage, Dorset, BH19 2BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold No depreciation is applicable
Fixtures & Fittings 25% Reducing Balance Method
Computer Equipment 20% Reducing Balance Method
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
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4. Intangible Assets
Intellectual Property
£
Cost
As at 1 February 2024 62,885
As at 31 January 2025 62,885
Net Book Value
As at 31 January 2025 62,885
As at 1 February 2024 62,885
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 - - 4,868 4,868
Additions 148,787 5,908 466 155,161
As at 31 January 2025 148,787 5,908 5,334 160,029
Depreciation
As at 1 February 2024 - - 2,940 2,940
Provided during the period - 1,477 479 1,956
As at 31 January 2025 - 1,477 3,419 4,896
Net Book Value
As at 31 January 2025 148,787 4,431 1,915 155,133
As at 1 February 2024 - - 1,928 1,928
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 55,382 61,135
Prepayments and accrued income 1,730 5,575
Other debtors 18,328 13,518
Directors' loan accounts 328 -
75,768 80,228
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 31,250 21,552
Corporation tax 26,196 31,764
Other taxes and social security 8,412 5,747
VAT 29,452 20,503
Other creditors 4,329 4,120
Client trust monies 39,042 32,620
VAT - cash accounting 2,856 5,099
Accruals and deferred income 9,850 6,590
Directors' loan accounts - 27,194
151,387 155,189
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 62,505 -
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 300 300
10. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 30,000 27,778
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