IT IMPACT LIMITED - Accounts 2014


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 28/02/2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 04990878


Registered Number: 04990878

BALANCE SHEET AT 28/02/2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Tangible assets	2		1,652		1,944

CURRENT ASSETS
Debtors (amounts falling due within one year)	3	7,549		18,593
Cash at bank and in hand		103,592		21,086
		111,141		39,679
CREDITORS: Amounts falling due within one year		28,308		22,531
NET CURRENT ASSETS			82,833		17,148
TOTAL ASSETS LESS CURRENT LIABILITIES			84,485		19,092

CAPITAL AND RESERVES

Called up share capital	4		2		2
Profit and loss account			84,483		19,090
SHAREHOLDERS' FUNDS			84,485		19,092

For the year ending 28/02/2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on 25/11/2014 and signed on their behalf by




Mr G S Pattinson
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and Fittings		reducing balance 15%




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




3. DEBTORS	2014	2013
	£	£

Amounts falling due within one year:
Trade debtors	6,807	18,315
Other debtors	742	278
	7,549	18,593




4. SHARE CAPITAL	2014	2013
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
	2	2