Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08259406 Mr Jamie Margerison Mr Darryl Swift Impact Research Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08259406 2023-03-31 08259406 2024-03-31 08259406 2023-04-01 2024-03-31 08259406 frs-core:CurrentFinancialInstruments 2024-03-31 08259406 frs-core:PlantMachinery 2024-03-31 08259406 frs-core:PlantMachinery 2023-04-01 2024-03-31 08259406 frs-core:PlantMachinery 2023-03-31 08259406 frs-core:ShareCapital 2024-03-31 08259406 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08259406 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08259406 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08259406 frs-bus:SmallEntities 2023-04-01 2024-03-31 08259406 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08259406 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08259406 1 2023-04-01 2024-03-31 08259406 frs-bus:Director1 2023-04-01 2024-03-31 08259406 frs-bus:Director1 2023-03-31 08259406 frs-bus:Director1 2024-03-31 08259406 frs-bus:Director2 2023-04-01 2024-03-31 08259406 frs-countries:EnglandWales 2023-04-01 2024-03-31 08259406 2022-03-31 08259406 2023-03-31 08259406 2022-04-01 2023-03-31 08259406 frs-core:CurrentFinancialInstruments 2023-03-31 08259406 frs-core:ShareCapital 2023-03-31 08259406 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08259406
Impact Health Research Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
de Jong Phillips Ltd
Chartered Accountants
First Floor
85 Great Portland Street
London
W1W 7LT
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08259406
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 894 509
894 509
CURRENT ASSETS
Debtors 5 67,038 121,862
Cash at bank and in hand 171,937 210,979
238,975 332,841
Creditors: Amounts Falling Due Within One Year 6 (25,061 ) (82,076 )
NET CURRENT ASSETS (LIABILITIES) 213,914 250,765
TOTAL ASSETS LESS CURRENT LIABILITIES 214,808 251,274
NET ASSETS 214,808 251,274
CAPITAL AND RESERVES
Called up share capital 7 10 10
Income Statement 214,798 251,264
SHAREHOLDERS' FUNDS 214,808 251,274
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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 Income Statement.
On behalf of the board
Mr Jamie Margerison
Director
15th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Impact Health Research Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08259406 . The registered office is 3 The Quintet, Churchfield Road, Walton-On-Thames, Surrey, KT12 2TZ.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery 33% Straight Line
2.4. Financial Instruments
The company accounts for its financial transactions in accordance with Section 11 and Section 12 of FRS 102.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Short term debtors and 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 4,288
Additions 709
Disposals (1,458 )
As at 31 March 2024 3,539
Depreciation
As at 1 April 2023 3,779
Provided during the period 324
Disposals (1,458 )
As at 31 March 2024 2,645
Net Book Value
As at 31 March 2024 894
As at 1 April 2023 509
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1 35,533
Prepayments and accrued income 8,775 3,171
Other debtors 58,262 83,158
67,038 121,862
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,712 -
Other taxes and social security 4,705 11,013
VAT 2,926 3,969
Other creditors 2,128 2,426
Accruals and deferred income 11,068 64,668
Amounts owed to group undertakings 1,522 -
25,061 82,076
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
8. Directors Advances, Credits and Guarantees
Included within Debtors is a loan to a director of £504 (2023: NIL).
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Jamie Margerison - 504 - - 504
The above loan is unsecured, interest free and repayable on demand.
9. Related Party Transactions
Impact Health Research Limited has made a loan of £100,000 to Impact Research Limited in the previous year. The balance outstanding at the year end was £51,679.
10. Ultimate Controlling Party
The company's ultimate controlling party is Impact Research Ltd by virtue of their ownership of 67% of the issued share capital in the company.
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