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Impact Ascents Limited

Registered Number
14300806
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2023

Impact Ascents Limited
Company Information
for the period from 17 August 2022 to 31 August 2023

Directors

Peter Brittleton
Paul Etheridge

Registered Address

Gretton House
Brough High Street
Brough
CA17 4BX

Registered Number

14300806 (England and Wales)
Impact Ascents Limited
Statement of Financial Position
31 August 2023

Notes

2023

£

£

Fixed assets
Tangible assets816,800
16,800
Current assets
Cash at bank and on hand4,996
4,996
Creditors amounts falling due within one year10(13,318)
Net current assets (liabilities)(8,322)
Total assets less current liabilities8,478
Net assets8,478
Capital and reserves
Called up share capital100
Profit and loss account8,378
Shareholders' funds8,478
The financial statements were approved and authorised for issue by the Board of Directors on 11 October 2023, and are signed on its behalf by:
Paul Etheridge
Director
Peter Brittleton
Director

Registered Company No. 14300806
Impact Ascents Limited
Notes to the Financial Statements
for the period ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles20
Revenue recognition policy
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.
Valuation of financial instruments policy
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
5.Critical estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management have made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.
6.Sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
7.Employee information

2023
Average number of employees during the year2
8.Property, plant and equipment

Vehicles

Total

££
Cost or valuation
Additions21,00021,000
At 31 August 2321,00021,000
Depreciation and impairment
Charge for year4,2004,200
At 31 August 234,2004,200
Net book value
At 31 August 2316,80016,800
At 16 August 22--
9.Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

£
Taxation and social security2,519
Other creditors9,900
Accrued liabilities and deferred income899
Total13,318
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.