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Registration number: 12932865

Creating Impact Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Creating Impact Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Creating Impact Limited

Company Information

Directors

I G Burren

A M Anderson

G H Burren

A C Woll

Registered office

59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

Creating Impact Limited

(Registration number: 12932865)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

1,914

1,441

Cash at bank and in hand

 

12,156

6,849

 

14,070

8,290

Creditors: Amounts falling due within one year

5

(75,277)

(58,794)

Net liabilities

 

(61,207)

(50,504)

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

(62,207)

(51,504)

Shareholders' deficit

 

(61,207)

(50,504)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 April 2024 and signed on its behalf by:
 

.........................................
I G Burren
Director

 

Creating Impact Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB
England

These financial statements were authorised for issue by the Board on 15 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Balance Sheet is showing net liabilities of £61,207 (2022 - £50,504). This was expected as the Company would have promotional costs before generating revenue in the future periods. The parent company and other related parties have provided advances to the Company of £73,669 (2022 - £57,170) and will continue to provide support for the Company. Therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Creating Impact Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Debtors

Current

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

245

245

Other debtors

 

1,669

1,196

   

1,914

1,441

 

Creating Impact Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

7

24

Amounts owed to group undertakings and undertakings in which the company has a participating interest

26,309

18,809

Accruals and deferred income

 

1,600

1,600

Other creditors

 

47,361

38,361

 

75,277

58,794

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000