Company Registration No. 10278710 (England and Wales)
IMPSGAMING LTD.
Unaudited accounts
for the year ended 31 July 2023
IMPSGAMING LTD.
Unaudited accounts
Contents
IMPSGAMING LTD.
Company Information
for the year ended 31 July 2023
Directors
Ian Thomas Brooks
Phillip James Brooks
Company Number
10278710 (England and Wales)
Registered Office
15 CROFTON CLOSE
LINCOLN
LN3 4NT
ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
IMPSGAMING LTD.
Statement of financial position
as at 31 July 2023
Tangible assets
6,204
4,495
Inventories
95,389
102,389
Cash at bank and in hand
13,008
9,700
Creditors: amounts falling due within one year
(41,255)
(79,545)
Net current assets
67,142
32,544
Total assets less current liabilities
73,346
37,039
Creditors: amounts falling due after more than one year
(16,473)
(19,825)
Called up share capital
12,000
12,000
Capital contribution reserve
40,000
-
Profit and loss account
4,873
5,214
Shareholders' funds
56,873
17,214
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
Ian Thomas Brooks
Director
Company Registration No. 10278710
IMPSGAMING LTD.
Notes to the Accounts
for the year ended 31 July 2023
IMPSGAMING LTD. is a private company, limited by shares, registered in England and Wales, registration number 10278710. The registered office is 15 CROFTON CLOSE, LINCOLN, LN3 4NT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
30% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
IMPSGAMING LTD.
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
2,243
3,827
1,438
7,508
Additions
-
1,396
2,616
4,012
At 31 July 2023
2,243
5,223
4,054
11,520
At 1 August 2022
920
1,595
498
3,013
Charge for the year
330
907
1,066
2,303
At 31 July 2023
1,250
2,502
1,564
5,316
At 31 July 2023
993
2,721
2,490
6,204
At 31 July 2022
1,323
2,232
940
4,495
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,352
3,352
Trade creditors
28,764
28,030
Taxes and social security
163
296
Loans from directors
5,448
45,958
6
Creditors: amounts falling due after more than one year
2023
2022
A BB Loan due after 12 months accruing interest at 2.5% per annum.
Year 2. £3,352
Year 3. £3,352
Year 4. £3,352
Year 5. £3,065
The BB Loan has a government guarantee to the high street bank in place.
Allotted, called up and fully paid:
6,000 Ordinary shares of £2 each
12,000
12,000
8
Capital contribution reserve
The directors have made the desision to create a capital contribution reserve to support the company in it's development, of some £40,000
IMPSGAMING LTD.
Notes to the Accounts
for the year ended 31 July 2023
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).