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Registered number: 05006322
Impact IT Solutions (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Tyler Redmore Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05006322
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,893 28,764
19,893 28,764
CURRENT ASSETS
Stocks 6 27,609 24,275
Debtors 7 695,892 537,519
Cash at bank and in hand 42,226 74,306
765,727 636,100
Creditors: Amounts Falling Due Within One Year 8 (538,034 ) (446,550 )
NET CURRENT ASSETS (LIABILITIES) 227,693 189,550
TOTAL ASSETS LESS CURRENT LIABILITIES 247,586 218,314
Creditors: Amounts Falling Due After More Than One Year 9 (5,327 ) (7,666 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,274 ) (5,274 )
NET ASSETS 236,985 205,374
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 236,885 205,274
SHAREHOLDERS' FUNDS 236,985 205,374
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs N L Morgan
Director
09/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Impact IT Solutions (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05006322 . The registered office is Unit 27B Osprey Court, Hawkfield Business Park, Whitchurch, Bristol, BS14 0BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 20% straight line basis
Computer Equipment 25% straight line basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation is based on the profit for the year, taking into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was  29 (2023: 27)
29 27
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 29,220 35,520 23,970 102,597 191,307
Additions - - 547 2,794 3,341
As at 31 March 2024 29,220 35,520 24,517 105,391 194,648
Depreciation
As at 1 April 2023 28,888 21,390 21,315 90,950 162,543
Provided during the period 110 3,532 2,324 6,246 12,212
As at 31 March 2024 28,998 24,922 23,639 97,196 174,755
Net Book Value
As at 31 March 2024 222 10,598 878 8,195 19,893
As at 1 April 2023 332 14,130 2,655 11,647 28,764
5. Investments
Unlisted
£
Cost
As at 1 April 2023 55
As at 31 March 2024 55
Provision
As at 1 April 2023 55
As at 31 March 2024 55
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
Investments comprise shares in the following subsidiary companies

Impact IT PVT Ltd - Registered in India 70% equity owned.
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6. Stocks
2024 2023
£ £
Stock 27,609 24,275
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 413,208 258,062
Prepayments and accrued income 7,666 14,415
Other debtors 4,201 3,900
Directors' loan accounts 207,915 198,240
632,990 474,617
Due after more than one year
Other debtors 62,902 62,902
695,892 537,519
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,736 15,027
Trade creditors 232,108 158,701
Other taxes and social security 100,134 100,044
Other creditors 46,983 27,401
Accruals and deferred income 126,772 118,093
Directors' loan accounts 29,301 27,284
538,034 446,550
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,327 7,666
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,736 15,027
Later than one year and not later than five years 5,327 7,666
8,063 22,693
8,063 22,693
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 36,150 14,854
Later than one year and not later than five years 92,548 -
128,698 14,854
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr J Ward 198,240 9,674 - - 207,914
The above loan is unsecured and interest free. Whilst it is repayable on demand, there are no immediate plans for it to be repaid. The directors still intend for this to be repaid gradually from dividends as the company profits permit. 
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