Company registration number 01901620 (England and Wales)
IMPACT MARKETING & PUBLICITY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
IMPACT MARKETING & PUBLICITY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
IMPACT MARKETING & PUBLICITY LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
47,581
50,584
Investments
4
210,000
-
0
257,581
50,584
Current assets
Stocks
4,675
3,672
Debtors
5
140,685
284,691
Cash at bank and in hand
397,737
516,584
543,097
804,947
Creditors: amounts falling due within one year
6
(213,944)
(280,533)
Net current assets
329,153
524,414
Total assets less current liabilities
586,734
574,998
Creditors: amounts falling due after more than one year
7
(3,543)
-
0
Provisions for liabilities
(11,073)
(11,729)
Net assets
572,118
563,269
Capital and reserves
Called up share capital
8
11,000
11,000
Profit and loss reserves
561,118
552,269
Total equity
572,118
563,269

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

IMPACT MARKETING & PUBLICITY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 1 March 2024
W Bradley
Director
Company registration number 01901620 (England and Wales)
IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Impact Marketing & Publicity Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Park Row, Nottingham, NG1 6GR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from advertising and publicity is recognised at the stage where the design of advertising is complete and has been agreed with the customer. At this point a confirmation statement is raised and the company obtains the rights to the consideration.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
50% on cost and 15% on cost
Fixtures, fittings & equipment
15% on cost
Motor vehicles
24% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

The company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.9
Equity instruments

Share capital issued by the company is recorded at the proceeds received, net of transaction costs. Dividends payable on share capital are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
17
17
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
172,357
45,403
34,990
252,750
Additions
13,625
-
0
-
0
13,625
Disposals
(78,272)
-
0
-
0
(78,272)
At 31 July 2023
107,710
45,403
34,990
188,103
Depreciation and impairment
At 1 August 2022
146,508
44,864
10,794
202,166
Depreciation charged in the year
8,124
106
8,398
16,628
Eliminated in respect of disposals
(78,272)
-
0
-
0
(78,272)
At 31 July 2023
76,360
44,970
19,192
140,522
Carrying amount
At 31 July 2023
31,350
433
15,798
47,581
At 31 July 2022
25,849
539
24,196
50,584
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
210,000
-
0
IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
4
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 August 2022
-
Additions
60,000
Reclassification of loan
150,000
At 31 July 2023
210,000
Carrying amount
At 31 July 2023
210,000
At 31 July 2022
-
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
110,450
112,684
Other debtors
30,235
172,007
140,685
284,691
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
12,935
24,570
Corporation tax
61,127
51,689
Other taxation and social security
52,801
59,673
Other creditors
87,081
144,601
213,944
280,533

Included in other creditors is hire purchase liabilities of £4,724 (2022: £Nil) that is secured against the assets to which they relate.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 9 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,543
-
0

Included in other creditors is hire purchase liabilities of £3,543 (2022: £Nil) that is secured against the assets to which they relate.

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
10,000
10,000
10,000
10,000
Ordinary 'B' shares of £1 each
1,000
1,000
1,000
1,000
11,000
11,000
11,000
11,000

The Ordinary Shares and the B Ordinary Shares shall have the same rights and privileges and shall

rank pari passu in all respects save that:

 

As regards voting:

The holders of the B Ordinary Shares shall not be entitled to receive notice of, or attend, or vote at

any General Meeting of the Company.

 

As regards income:

The holders of the Ordinary Shares and the holders of the B Ordinary Shares shall be entitled to

payment of a varying rate of dividend as declared by the Company from time to time.

 

As regards capital:

On a winding up or on a reduction of capital involving a return of capital the assets of the Company

shall be applied first in repaying to the holders of the Ordinary Shares and the B Ordinary Shares the

capital paid up or credited as paid up thereon and the balance of the assets of the Company shall

belong to and be distributed among the holders of the Ordinary Shares ratable according to the

amounts paid upon such shares and the holders of the B Ordinary Shares shall not be entitled to any

further or other participation in the profits or assets of the company.

IMPACT MARKETING & PUBLICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 10 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Elizabeth Searby
Statutory Auditor:
UHY Hacker Young
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
40,458
84,258
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

During the year, the company paid £296,167 (2022 - £125,000) in respect of advertising and sponsorship to a company under common control.

 

At the year end the related party owed £15,379 (2022 - £160,187) to the company.

 

During the year the company paid £43,800 (2022 - £43,800) in respect of rent to the company's pension scheme. There was no outstanding balance at the year end. The director is a trustee of this scheme.

2023-07-312022-08-01false01 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedW BradleyW Bradleyfalse019016202022-08-012023-07-31019016202023-07-31019016202022-07-3101901620core:PlantMachinery2023-07-3101901620core:FurnitureFittings2023-07-3101901620core:MotorVehicles2023-07-3101901620core:PlantMachinery2022-07-3101901620core:FurnitureFittings2022-07-3101901620core:MotorVehicles2022-07-3101901620core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3101901620core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3101901620core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-3101901620core:Non-currentFinancialInstrumentscore:AfterOneYear2022-07-3101901620core:CurrentFinancialInstruments2023-07-3101901620core:CurrentFinancialInstruments2022-07-3101901620core:ShareCapital2023-07-3101901620core:ShareCapital2022-07-3101901620core:RetainedEarningsAccumulatedLosses2023-07-3101901620core:RetainedEarningsAccumulatedLosses2022-07-3101901620core:ShareCapitalOrdinaryShares2023-07-3101901620core:ShareCapitalOrdinaryShares2022-07-3101901620bus:Director12022-08-012023-07-3101901620core:PlantMachinery2022-08-012023-07-3101901620core:FurnitureFittings2022-08-012023-07-3101901620core:MotorVehicles2022-08-012023-07-31019016202021-08-012022-07-3101901620core:PlantMachinery2022-07-3101901620core:FurnitureFittings2022-07-3101901620core:MotorVehicles2022-07-31019016202022-07-3101901620core:WithinOneYear2023-07-3101901620core:WithinOneYear2022-07-3101901620core:Non-currentFinancialInstruments2023-07-3101901620core:Non-currentFinancialInstruments2022-07-3101901620bus:PrivateLimitedCompanyLtd2022-08-012023-07-3101901620bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-3101901620bus:FRS1022022-08-012023-07-3101901620bus:Audited2022-08-012023-07-3101901620bus:CompanySecretary12022-08-012023-07-3101901620bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP