Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 13116872 Natnael Asmerom the director true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13116872 2023-01-31 13116872 2024-01-31 13116872 2023-02-01 2024-01-31 13116872 frs-core:CurrentFinancialInstruments 2024-01-31 13116872 frs-core:Non-currentFinancialInstruments 2024-01-31 13116872 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-31 13116872 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-31 13116872 frs-core:ShareCapital 2024-01-31 13116872 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 13116872 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13116872 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 13116872 frs-bus:SmallEntities 2023-02-01 2024-01-31 13116872 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13116872 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13116872 1 2023-02-01 2024-01-31 13116872 frs-bus:Director1 2023-02-01 2024-01-31 13116872 frs-countries:EnglandWales 2023-02-01 2024-01-31 13116872 2022-01-31 13116872 2023-01-31 13116872 2022-02-01 2023-01-31 13116872 frs-core:CurrentFinancialInstruments 2023-01-31 13116872 frs-core:Non-currentFinancialInstruments 2023-01-31 13116872 frs-core:ShareCapital 2023-01-31 13116872 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 13116872
Impact Real Estate Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13116872
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 115,000 105,000
115,000 105,000
CURRENT ASSETS
Debtors 5 - 174
Cash at bank and in hand 5,966 3,689
5,966 3,863
Creditors: Amounts Falling Due Within One Year 6 (35,759 ) (32,682 )
NET CURRENT ASSETS (LIABILITIES) (29,793 ) (28,819 )
TOTAL ASSETS LESS CURRENT LIABILITIES 85,207 76,181
Creditors: Amounts Falling Due After More Than One Year 7 (69,654 ) (69,648 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,830 ) (1,930 )
NET ASSETS 11,723 4,603
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 11,623 4,503
SHAREHOLDERS' FUNDS 11,723 4,603
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Natnael Asmerom
Director
20 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Impact Real Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13116872 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.3. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 February 2023 105,000
Revaluation 10,000
As at 31 January 2024 115,000
Net Book Value
As at 31 January 2024 115,000
As at 1 February 2023 105,000
The investment properties are valued, as at 31 January 2024, by directors of the company based on the assessment of available market information and property condition. The directors believe that their valuation would not be materially different from the professional valuation.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 174
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Director's loan account 35,759 32,682
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 69,654 69,648
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 69,654 69,648
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included in creditors due within one year is an amount of £35,759 (2023:£32,682) owed to its director. The amount is interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
Page 4