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REGISTERED NUMBER: 08831099 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

IMPACT CONSTRUCTION PROJECTS LTD

IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IMPACT CONSTRUCTION PROJECTS LTD

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C J Masters
J D Masters





REGISTERED OFFICE: Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH





REGISTERED NUMBER: 08831099 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,974 103,544

CURRENT ASSETS
Stocks 1,465,923 697,031
Debtors 5 16,041 23,709
Cash at bank and in hand 73,373 87,894
1,555,337 808,634
CREDITORS
Amounts falling due within one year 6 1,231,508 453,321
NET CURRENT ASSETS 323,829 355,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

404,803

458,857

CREDITORS
Amounts falling due after more than one
year

7

(50,973

)

(86,824

)

PROVISIONS FOR LIABILITIES (15,385 ) (9,370 )
NET ASSETS 338,445 362,663

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 338,325 362,543
SHAREHOLDERS' FUNDS 338,445 362,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





C J Masters - Director


IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Impact Construction Projects Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks and work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Property, including land, held for development or being constructed for sale in the normal course of business, is held as work in progress and is measured at the lower of cost and net realisable value.

Cost comprises the value of land and property acquired and includes attributable direct costs, labour and construction overheads.

Net realisable value is the estimated selling price in the ordinary course of business, based on market prices at the accounting reference date, less estimated costs of completion and sale.

At each reporting date, an assessment is made for impairment. Any excess of the cost of stocks and work in progress over its net realisable value is recognised as an impairment loss in the period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 74,450 77,417 1,321 153,188
Additions 1,650 - - 1,650
Disposals (750 ) - - (750 )
At 31 January 2024 75,350 77,417 1,321 154,088
DEPRECIATION
At 1 February 2023 22,232 26,276 1,136 49,644
Charge for year 10,624 12,785 61 23,470
At 31 January 2024 32,856 39,061 1,197 73,114
NET BOOK VALUE
At 31 January 2024 42,494 38,356 124 80,974
At 31 January 2023 52,218 51,141 185 103,544

IMPACT CONSTRUCTION PROJECTS LTD (REGISTERED NUMBER: 08831099)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 35,250 23,500 58,750
DEPRECIATION
At 1 February 2023 10,242 5,875 16,117
Charge for year 4,842 - 4,842
At 31 January 2024 15,084 5,875 20,959
NET BOOK VALUE
At 31 January 2024 20,166 17,625 37,791
At 31 January 2023 25,008 17,625 42,633

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 4,416 1,570
Other debtors 11,625 22,139
16,041 23,709

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 26,000 26,000
Hire purchase contracts 9,855 9,092
Trade creditors 67,514 31,430
Taxation and social security 17,116 2,326
Other creditors 1,111,023 384,473
1,231,508 453,321

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 34,666 60,667
Hire purchase contracts 16,307 26,157
50,973 86,824