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REGISTERED NUMBER: 02435792 (England and Wales)






























STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

IMPACT AIR SYSTEMS LIMITED

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024











Page


Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


IMPACT AIR SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr NJ Ball
Mrs VK Ball
Mr D Lansdell
Ms A Crona
Mr D Prelevic
Mr GS Mills


SECRETARY: Mrs VK Ball


REGISTERED OFFICE: 3 Kingsley Street
Leicester
Leicestershire
LE2 6DY


REGISTERED NUMBER: 02435792 (England and Wales)


SENIOR STATUTORY AUDITOR: Mark Harrison BA(Hons) FCA


AUDITORS: Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU


BANKERS: HSBC Plc
31 Granby Street
Leicester
LE1 6EP

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report for the year ended 31 March 2024.

The principal activity of the company in the year under review was that of technical testing and analysis.

For over 30 years, the Impact group of companies stock, sell and supply dust, fume and oil mist extraction products within a strong team of highly skilled and experienced system designers and engineers.

We specialise in the service and maintenance of all extraction and ventilation equipment to a variety of customers from materials recycling facilities, printers and paper merchants, schools and universities to quarries and stone masons.

Our core values include providing a quality service to exceed our customers' expectations. Our staff are suitably trained and experienced to be the best in their field. We keep abreast of industry legislative and technological advancements. Safety is paramount and every effort is made to ensure our staff are working safely. We operate in compliance with universally recognised standards for human rights, labour practices and anti-corruption. We are very passionate about our corporate social responsibility.

The results and financial position of the company are as shown in the annexed financial statements.

REVIEW OF BUSINESS
We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole.

The profit before taxation was £3,350,357 (2023: £2,895,602).

The company's balance sheet position as at the year end is considered to be strong. The net assets at the year end were £6,559,274 (2023: £5,678,621).

KPI's £'000 2024 2023
Turnover 11,768 12,872
Gross Profit 5,016 4,854
Gross Profit % 43% 38%
Net Profit 3,350 2,896
Net Profit % 28% 22%
Net Assets 6,559 5,678

Our experienced management team and strong financial position enable us to be well positioned to continue the successful development of the company throughout the years to come.

The directors consider that the results for the year are satisfactory and that the company will continue to trade profitably for the foreseeable future.


IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The group and its customers face the overall effects of the global recession and supply chain uncertainties as the business environment in which the group operates in continues to be challenging.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen events outside of our control.

ON BEHALF OF THE BOARD:





Mr NJ Ball - Director


23 April 2024

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 1,600,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr NJ Ball
Mrs VK Ball
Mr D Lansdell
Ms A Crona
Mr D Prelevic

Other changes in directors holding office are as follows:

Mr R Deacon - resigned 31 March 2024
Mr P Church - resigned 31 March 2024

Mr GS Mills was appointed as a director after 31 March 2024 but prior to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
Charitable donations of £11,153 (2023: £14,747) were paid during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, Mark J Rees LLP Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr NJ Ball - Director


23 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMPACT AIR SYSTEMS LIMITED


Opinion
We have audited the financial statements of Impact Air Systems Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMPACT AIR SYSTEMS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMPACT AIR SYSTEMS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

We have evaluated the management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition, amounts recoverable on contracts, management override and significant one -off or unusual transactions.

Our audit procedures were designed to respond to these identified risks, including non compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

- A review of a sample of costs incurred to specific contracts and a review of a sample of open contracts as at year end to supporting documentation.
- A review of a sample of revenue streams in the year and perform cut off tests to ensure revenue recognition is correctly stated.
- A review of laws and regulations, specifically health and safety, applicable to the company and discussion with management to ensure no instances of non compliance.
- Addressing the risks of fraud through management override of controls by performing a journal entry test.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Harrison BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU

23 April 2024

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 11,768,117 12,871,871

Cost of sales 6,752,351 8,017,715
GROSS PROFIT 5,015,766 4,854,156

Distribution costs 2,122,002 2,137,384
Administrative expenses 183,276 (72,451 )
2,305,278 2,064,933
OPERATING PROFIT 5 2,710,488 2,789,223

Interest receivable and similar income 639,160 106,379
3,349,648 2,895,602

Interest payable and similar expenses 6 (709 ) -
PROFIT BEFORE TAXATION 3,350,357 2,895,602

Tax on profit 7 869,704 550,164
PROFIT FOR THE FINANCIAL YEAR 2,480,653 2,345,438

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,480,653

2,345,438

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 14,650 9,149

CURRENT ASSETS
Stocks 10 158,172 91,460
Debtors 11 14,326,158 16,520,109
Cash at bank and in hand 620,193 1,777,464
15,104,523 18,389,033
CREDITORS
Amounts falling due within one year 12 8,559,651 12,719,561
NET CURRENT ASSETS 6,544,872 5,669,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,559,522

5,678,621

PROVISIONS FOR LIABILITIES 16 248 -
NET ASSETS 6,559,274 5,678,621

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 6,559,174 5,678,521
SHAREHOLDERS' FUNDS 6,559,274 5,678,621

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




Mr NJ Ball - Director



Mrs VK Ball - Director


IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 3,333,083 3,333,183

Changes in equity
Total comprehensive income - 2,345,438 2,345,438
Balance at 31 March 2023 100 5,678,521 5,678,621

Changes in equity
Dividends - (1,600,000 ) (1,600,000 )
Total comprehensive income - 2,480,653 2,480,653
Balance at 31 March 2024 100 6,559,174 6,559,274

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Impact Air Systems 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. The company supplies products and services to customers under standard terms and conditions via contracts.

Revenue is recognised to the extent that it is probable that the economic benefits will flow into the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

Turnover on uncompleted contracts is determined on the basis of the stage of completion of each contract and this is calculated by multiplying the contract's full sales value by the estimated percentage of completion for that contract which is included in the amounts recoverable on contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 8 years
Fixtures and fittings - Straight line over 8 years, Straight line over 4 years and Straight line over 3 years
Computer equipment - 50% on cost, over 5 years, Straight line over 4 years and Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates two defined contribution pension schemes, one for the benefit of the directors and one for the benefit of senior employees. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.


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.

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 11,349,704 12,460,780
Europe 968 970
United States of America 417,445 410,121
11,768,117 12,871,871

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,552,996 1,467,673
Social security costs 166,756 159,410
Other pension costs 155,141 269,541
1,874,893 1,896,624

The average number of employees during the year was as follows:
2024 2023

Management 5 5
Engineers 19 20
24 25

2024 2023
£    £   
Directors' remuneration 380,874 339,621
Directors' pension contributions to money purchase schemes 102,262 221,515

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes 4 4

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 147,150 187,920
Pension contributions to money purchase schemes 45,760 33,540

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 202,486 236,255
Depreciation - owned assets 8,081 6,212
Profit on disposal of fixed assets (41 ) -
Auditors remuneration 11,100 5,040

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
HMRC interest (709 ) -

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 826,967 550,164
Prior year
UK corporation tax 42,489 -
Total current tax 869,456 550,164

Deferred taxation 248 -
Tax on profit 869,704 550,164

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 3,350,357 2,895,602
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

837,589

550,164

Effects of:
Expenses not deductible for tax purposes (8,714 ) 2,119
Income not taxable for tax purposes - (1,365 )
Capital allowances in excess of depreciation (1,660 ) (754 )
Adjustments to tax charge in respect of previous periods 42,489 -
Total tax charge 869,704 550,164

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 1,600,000 -

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 8,963 18,105 89,769 116,837
Additions - 3,031 10,996 14,027
Disposals - - (943 ) (943 )
At 31 March 2024 8,963 21,136 99,822 129,921
DEPRECIATION
At 1 April 2023 8,963 17,900 80,825 107,688
Charge for year - 1,173 6,908 8,081
Eliminated on disposal - - (498 ) (498 )
At 31 March 2024 8,963 19,073 87,235 115,271
NET BOOK VALUE
At 31 March 2024 - 2,063 12,587 14,650
At 31 March 2023 - 205 8,944 9,149

10. STOCKS
2024 2023
£    £   
Raw materials 158,172 91,460

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,360,898 1,720,557
Amounts owed by group undertakings 11,770,081 14,378,771
Amounts recoverable on contracts 133,153 371,063
Prepayments 62,026 49,718
14,326,158 16,520,109

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 7,492 -
Payments on account 6,653,320 10,645,649
Trade creditors 1,274,674 1,450,524
Taxation 19,501 52,165
Paye/Ni payable 53,741 67,780
VAT 122,839 158,004
Accruals and deferred income 428,084 345,439
8,559,651 12,719,561

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 7,492 -

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 66,550 -
Between one and five years 75,149 -
141,699 -

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 7,492 -

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 248 -

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Movement for the year 248
Balance at 31 March 2024 248

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

18. RESERVES
Retained
earnings
£   

At 1 April 2023 5,678,521
Profit for the year 2,480,653
Dividends (1,600,000 )
At 31 March 2024 6,559,174

19. PENSION COMMITMENTS

The company operates a separate defined contribution pension scheme for the benefit of the directors and senior employees. The assets of the scheme are administered by trustees in a fund independent from those of the company.

The total contributions paid in the year amounted to £155,141 (2023: £269,542).

20. ULTIMATE PARENT COMPANY

The ultimate parent company is Team 17 Limited, which is controlled by Mr NJ Ball and Mrs VK Ball by virtue of their 100% shareholding and directorship.

21. RELATED PARTY DISCLOSURES

During the year, a total of key management personnel compensation of £ 380,874 was paid.

IMPACT AIR SYSTEMS LIMITED (REGISTERED NUMBER: 02435792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


22. ULTIMATE CONTROLLING PARTY

The company's parent company is Team 17 Limited. Team 17 Limited owns 100% of the shares in Impact Air Systems Limited. The registered address for Team 17 Limited is 3 Kingsley Street, Leicester, LE2 6DY.

The ultimate parent company and controlling party is Addtech Nordec AB which owns 100% of Team 17 Limited and is a Swedish public limited company. The group accounts can be found at Birger Jarlsgatan 43, Box 5112 102 43, Stockholm, Sweden.