Impact (Midlands) Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11036406 (England and Wales)

Financial Statements for the Year Ended 31 January 2024

for

Impact (Midlands) Holdings Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Potter

Mrs N D Potter

Mr R Potter

Mr R K Potter

REGISTERED OFFICE:

Unit 3 Phoenix Park

Station Road

Rowley Regis

West Midlands

B65 0JY

REGISTERED NUMBER:

11036406 (England and Wales)

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

34,984

27,103

Investments

6

25,000

25,000

59,985

52,104

CURRENT ASSETS

Debtors

401,348

352,750

Cash at bank

14,807

3,156

416,155

355,906

CREDITORS

Amounts falling due within one year

31,759

27,643

NET CURRENT ASSETS

384,396

328,263

TOTAL ASSETS LESS CURRENT LIABILITIES

444,381

380,367

PROVISIONS FOR LIABILITIES

6,647

5,150

NET ASSETS

437,734

375,217

CAPITAL AND RESERVES

Called up share capital

7

25,050

25,050

Retained earnings

412,684

350,167

SHAREHOLDERS' FUNDS

437,734

375,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Balance Sheet for the year ended 31 January 2024 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 22 March 2024 and were signed on its behalf by:

Mr C J Potter - Director

1.	STATUTORY INFORMATION

Impact (Midlands) Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Impact (Midlands) Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less an impairment provision.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2023

and 31 January 2024

1

NET BOOK VALUE

At 31 January 2024

1

At 31 January 2023

1

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2023

58,365

Additions

18,850

Disposals

(11,662

)

At 31 January 2024

65,553

DEPRECIATION

At 1 February 2023

31,262

Charge for year

7,471

Eliminated on disposal

(8,164

)

At 31 January 2024

30,569

NET BOOK VALUE

At 31 January 2024

34,984

At 31 January 2023

27,103

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 February 2023

and 31 January 2024

25,000

NET BOOK VALUE

At 31 January 2024

25,000

At 31 January 2023

25,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.24

31.1.23

value:

£

£

25,050

Ordinary

£1

25,050

25,050