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REGISTERED NUMBER: 06675442 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

IMPACT PROPERTY LIMITED

IMPACT PROPERTY LIMITED (REGISTERED NUMBER: 06675442)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IMPACT PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mr KS Macliver
Mrs CMA Macliver
Mr MB Mills
Mrs PL Mills
Mr PJ Smith
Mrs EA Smith





SECRETARY: Mrs PL Mills





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU





REGISTERED NUMBER: 06675442 (England and Wales)

IMPACT PROPERTY LIMITED (REGISTERED NUMBER: 06675442)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 709,065 709,065

CURRENT ASSETS
Debtors 5 3,630 4,196
Cash at bank 21,302 23,385
24,932 27,581
CREDITORS
Amounts falling due within one year 6 38,343 34,098
NET CURRENT LIABILITIES (13,411 ) (6,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

695,654

702,548

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 695,651 702,545
SHAREHOLDERS' FUNDS 695,654 702,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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 PROPERTY LIMITED (REGISTERED NUMBER: 06675442)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




Mr MB Mills - Director



Mrs PL Mills - Director


IMPACT PROPERTY LIMITED (REGISTERED NUMBER: 06675442)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Impact Property 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.

Investment property
Investment property is shown at the directors valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve, except where any deficit is greater than any previous surplus. Any excess deficit is charged to the profit and loss account in the year.

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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Operating leases
Rental income from operating leases is credited to the Income Statement on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

IMPACT PROPERTY LIMITED (REGISTERED NUMBER: 06675442)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 709,065
NET BOOK VALUE
At 31 October 2023 709,065
At 31 October 2022 709,065

The investment property is included at the directors valuation. The directors consider that the market value is £709,065 at 31 October 2023. The original cost of the investment property was £1,252,616.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,530 4,096
Other debtors 100 100
3,630 4,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,942 3
Taxation and social security 16,686 15,103
Other creditors 18,715 18,992
38,343 34,098

7. RELATED PARTY DISCLOSURES

During the year the company received rental income from Impact Ducting Sales Limited amounting to £77,000 (2022 - £77,000) and expenses recharged amounting to £2,942 (2022 - £3,413). At the end of the period an amount of £3,530 (2022 - £4,096) was owed by Impact Ducting Sales Limited.

During the year expenses were recharged to the company from Impact Ducting Sales Limited amounting to £15,485 (2022 - £11,418).

At the end of the period an amount of £100 (2022 - £100) was owed to Impact Group (Leicester) Limited.

Mr MB Mills, Mr KS Macliver and Mr PJ Smith are directors of Impact Group (Leicester) Limited. Mr MB Mills and Mrs PL Mills are directors of Impact Ducting Sales Limited.

No interest was charged on the above balances.