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REGISTERED NUMBER: 00801126 (England and Wales)















IMPACT (BOSTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IMPACT (BOSTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: G D Turner
A C Colman



REGISTERED OFFICE: 27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



REGISTERED NUMBER: 00801126 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Barclays Bank PLC
65 Lumley Road
Skegness
Lincolnshire
PE25 3LU

IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,850,222 1,323,740
Investments 6 60,000 276,382
1,910,222 1,600,122

CURRENT ASSETS
Stocks 890,151 852,197
Debtors 7 1,480,164 894,062
Cash at bank and in hand 583,204 911,078
2,953,519 2,657,337
CREDITORS
Amounts falling due within one year 8 1,313,873 989,566
NET CURRENT ASSETS 1,639,646 1,667,771
TOTAL ASSETS LESS CURRENT LIABILITIES 3,549,868 3,267,893

CREDITORS
Amounts falling due after more than one year 9 (281,274 ) (270,000 )

PROVISIONS FOR LIABILITIES (208,810 ) (111,270 )
NET ASSETS 3,059,784 2,886,623

CAPITAL AND RESERVES
Called up share capital 8,859 8,859
Capital redemption reserve 8,794 8,794
Retained earnings 3,042,131 2,868,970
3,059,784 2,886,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:





G D Turner - Director


IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Impact (Boston) 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents amounts charged to customers for goods and services provided during the year excluding value added tax. Sales are recognised as and when the invoice is raised.

Goodwill
Goodwill relates to an acquisition made by Paperwork (UK) Ltd in 1997 and has been fully amortised.

Tangible fixed assets
Freehold property-nil

Plant and machinery

-
25% on cost, 15% and 25% on reducing
balance

Tangible fixed assets are held at cost less depreciation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Amounts recoverable on contracts
In respect of amounts recoverable on contracts, turnover represents the value of work done in the year. Turnover recognised in this manner is calculated by reference to the percentage of completion at the end of the reporting period this is in accordance with Section 23 Revenue of FRS102.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2020 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 102,908
AMORTISATION
At 1 January 2021
and 31 December 2021 102,908
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 554,969 2,620,020 3,174,989
Additions 52,413 656,015 708,428
Disposals - (100,262 ) (100,262 )
At 31 December 2021 607,382 3,175,773 3,783,155
DEPRECIATION
At 1 January 2021 - 1,851,249 1,851,249
Charge for year - 129,077 129,077
Eliminated on disposal - (47,393 ) (47,393 )
At 31 December 2021 - 1,932,933 1,932,933
NET BOOK VALUE
At 31 December 2021 607,382 1,242,840 1,850,222
At 31 December 2020 554,969 768,771 1,323,740

IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. TANGIBLE FIXED ASSETS - continued

It is the company's policy not to depreciate buildings as in the opinion of the directors the buildings are maintained to such a high standard that any depreciation would be insignificant.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2021 276,382
Impairments (216,382 )
At 31 December 2021 60,000
NET BOOK VALUE
At 31 December 2021 60,000
At 31 December 2020 276,382

Cost or valuation at 31 December 2021 is represented by:

Other
investments
£   
Valuation in 2021 60,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,235,322 771,153
Amounts owed by group undertakings 10,539 3,938
Amounts recoverable on contract 51,197 34,779
Other debtors 183,106 84,192
1,480,164 894,062

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 60,000 30,000
Trade creditors 1,019,206 672,971
Taxation and social security 120,576 204,837
Other creditors 114,091 81,758
1,313,873 989,566

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 217,150 270,000
Other creditors 64,124 -
281,274 270,000

IMPACT (BOSTON) LIMITED (REGISTERED NUMBER: 00801126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
D J Colman (Deceased)
Balance outstanding at start of year 55,360 46,620
Amounts advanced 190,036 133,097
Amounts repaid (135,852 ) (124,357 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,544 55,360

A director has provided an interest free loan totalling £25,669 (2020 £28,981).

The company has provided directors with loans totalling £109,544 (2020 £55,360). Interest of £1,388 (2020 £1,863) has been paid on the loan.