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REGISTERED NUMBER: 06852966 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

IMPACT RADIUS LIMITED

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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










Page

Company Information 1

Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 6

Income Statement 10

Total Comprehensive Income/(Loss) 11

Balance Sheet 12

Statement of Changes in Equity 13

Notes to the Financial Statements 14


IMPACT RADIUS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: P T Pettersen





REGISTERED OFFICE: The Scalpel
18th Floor, 52 Lime Street
London
EC3M 7AF





REGISTERED NUMBER: 06852966 (England and Wales)





INDEPENDENT AUDITORS: Belluzzo Audit Limited
Chartered Accountants and
Statutory Auditors
38 Craven Street
London
WC2N 5NG

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024


The director presents his strategic report for the year ended 31 January 2024.

REVIEW OF BUSINESS
Turnover for the financial year ended 31 January 2024 decreased by 2.5% from the financial year ended 31 January 2023.

The net profit for the year ended 31 January 2024 was £2,050,746 (2023: net loss of £298,271), marking a significant improvement in financial performance.

Investments in marketing led to a rise in overheads, though overall expenses were managed effectively to support operational efficiency and long-term growth. This shift from loss to profit is attributed to the company's continued focus on enhancing revenue streams, coupled with strategic cost management, and a deferred tax benefit (GBP 1,131,339) as a result of the company becoming profitable in the current year.

Key Performance Indicators

The director reviews a monthly management pack detailing all KPIs related to sales and costs. The reported turnover for the year was £14,694,445 (2023: £15,073,760), representing a 2.5% decline from the prior year. The expenditure for the year amounted to £14,108,353, or 96% of the reported turnover (2023: £15,381,542, or 102% of the reported turnover), indicating an improvement in cost control.

PRINCIPAL RISKS AND UNCERTAINTIES
Competitive Risk

Competitive pressure is an ongoing risk for the company. The company maintains a diverse portfolio and provides added value services to its customers, providing fast response times not only in supplying services, but also in handling all customer queries and maintaining strong customer relationships.

The company undertakes inter-group trading based on a well-structured group transfer pricing policy. However, this results in exposure to exchange rate fluctuations between USD, GBP and EUR.

The company is exposed mainly to credit risk and liquidity risk, with appropriate measures in place by the company to manage these exposures and risks.

Credit risk

Credit risk is the risk that a customer fails to meet their financial obligations with Impact Radius Limited. The company's approach to managing this risk is to ensure debts are paid in full by customers and credit checks are completed for new customers where deemed necessary.

Liquidity risk

Liquidity risk is the risk that the company will be unable to meet its financial obligations as they fall due. The company's liquidity risk is managed by the Group. The group's approach to managing liquidity risk is to ensure as far as possible, it will always have sufficient liquidity to meet its liabilities as due under normal circumstances without incurring unacceptable losses or risking damage to the group's reputation. The group maintains sufficient cash reserves to meet its liquidity requirements at all times, additionally the group has certain unutilized revolving committed facilities at its disposal.

Legislative Risk

Following the UK's withdrawal from the EU on 1 January 2021, the company has implemented additional measures to ensure compliance and duties relating to the impact of the UK's withdrawal from the EU free trade agreement are discharged, in relation to products procured from its group associated undertakings.


IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

SECTION 172(1) STATEMENT
A. Likely consequence of any decision in the long term

Impact Radius Limited business model depends on the trust and confidence of its stakeholders to operate sustainably in the long term. The company seeks to put its clients' best interests first, invests in its employees, operates to be fully compliant with the ongoing regulations, supports the communities in which it operates and strives to generate sustainable profits for the shareholder.

The director of Impact Radius Limited has acted in accordance with his duties codified in law, which includes his duty to act in the way in which he considers, in good faith, would be most likely to promote the success of the company for the benefit of its shareholder, having regard to the stakeholders and matters set out in section 172(1) of the Companies Act 2006.

Section 172 considerations are embedded in decision making at Board level and throughout the company. Issues, factors and stakeholders which the director has considered when discharging his duty under section 172(1) as far as our vision, purpose, sustainability pillars and values are set out in the Strategic report, as are the risks facing our organisation and the mitigating action we take, our governance practices, examples of stakeholder engagement and information about our engagement with employees, the shareholder and suppliers.


B. Our people

Our people are one of our most important assets, the company is committed to being a responsible business. Our behaviour is aligned with the expectations of our people, clients, investors, suppliers, and financial community as a whole. People are at the heart of our services. For our business to succeed we need to manage our people's performance and develop and bring through talent while ensuring we operate as efficiently as possible. We must also ensure we share common values that inform and guide our behaviour, so we achieve our goals in the right way.


C. Business relationships

Our strategy priorities organic growth driven by the existing clients and originating new clients. We develop and maintain strong client relationships.

D. Community and Environment

The company's approach is to act every day to create positive change for the people and communities with which we interact. We want to leverage our experiences and enable colleagues to support the communities around us.


E. Maintaining a reputation for high standards of business conduct

The company has Ethics and Whistleblowing policies, both of which are also reviewed periodically in line with the procedures for prevention of conflict of interest and compliance with regulatory guidance. The company has internal approvals processes that mitigate risk of operation frauds and error, which are regularly monitored by the compliance team. The company has a compliance manual to manage and maintain a reputation for high standards of business conduct. The company acts daily to improve the competence of its employees and expects them to be at the highest level of integrity.


IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

GOING CONCERN
After reviewing the company’s financial position, performance, and liquidity, the director has made appropriate enquiries and has considered the financial forecasts for the next 12 months. The company has demonstrated substantial improvement in its financial health, as evidenced by the net profit of £2,050,746 for the year ended 31 January 2024 (compared to a net loss of £298,271 in 2023) and the increase in cash reserves to £12,191,009 from £9,568,139 in the previous year.

The company's continued strategic focus aims to grow revenue, improve operational efficiency and cost management, underpinning the company's projections for 2025 and beyond.

After making due enquiries and considering the financial forecasts, the director has a reasonable expectation that the company has sufficient resources to continue in operational existence for 12 months from the date of the signing of these financial statements. Consequently, the financial statements have been prepared on a going concern basis.

ON BEHALF OF THE BOARD:





P T Pettersen - Director


29 January 2025

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JANUARY 2024


The director presents his report with the financial statements of the company for the year ended 31 January 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 January 2024.

DIRECTOR
P T Pettersen held office during the whole of the period from 1 February 2023 to the date of this report.

DONATIONS AND EXPENDITURE
The company made donations amounting to £2,116.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Belluzzo Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P T Pettersen - Director


29 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE SHAREHOLDER OF
IMPACT RADIUS LIMITED


Opinion
We have audited the financial statements of Impact Radius Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Total Comprehensive Income/(Loss), 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 January 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE SHAREHOLDER OF
IMPACT RADIUS 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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE SHAREHOLDER OF
IMPACT RADIUS 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 irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, UK tax legislation.
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation
- enquiring of management as to actual and potential litigation and claims;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


REPORT OF THE INDEPENDENT AUDITORS TO THE SHAREHOLDER OF
IMPACT RADIUS LIMITED

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 shareholder 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 shareholder 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 shareholder for our audit work, for this report, or for the opinions we have formed.




Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited
Chartered Accountants and
Statutory Auditors
38 Craven Street
London
WC2N 5NG

31 January 2025

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 14,694,445 15,073,760

Administrative expenses (14,108,352 ) (15,381,542 )
OPERATING PROFIT/(LOSS) 4 586,093 (307,782 )

Interest receivable and similar income 333,314 13,846
919,407 (293,936 )

Interest payable and similar expenses 5 - (4,335 )
PROFIT/(LOSS) BEFORE TAXATION 919,407 (298,271 )

Tax on profit/(loss) 6 1,131,339 -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

2,050,746

(298,271

)

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

TOTAL COMPREHENSIVE INCOME/(LOSS)
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 2,050,746 (298,271 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME/(LOSS) FOR THE YEAR

2,050,746

(298,271

)

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 199,760 24,182
Investments 9 2,984,563 2,147,020
3,184,323 2,171,202

CURRENT ASSETS
Debtors 10 27,946,222 22,742,633
Cash at bank 12,191,009 9,568,139
40,137,231 32,310,772
CREDITORS
Amounts falling due within one year 11 (23,140,668 ) (20,957,657 )
NET CURRENT ASSETS 16,996,563 11,353,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,180,886

13,524,317

CREDITORS
Amounts falling due after more than one
year

12

(4,518,627

)

(3,048,584

)
NET ASSETS 15,662,259 10,475,733

CAPITAL AND RESERVES
Called up share capital 14 1,002 1,001
Share premium 15 19,554,862 16,419,083
Other reserves 15 435,364 435,364
Retained earnings 15 (4,328,969 ) (6,379,715 )
SHAREHOLDERS' FUNDS 15,662,259 10,475,733

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





P T Pettersen - Director


IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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

Called up
share Retained Share Other Total
capital earnings premium reserves equity
£    £    £    £    £   
Balance at 1 February 2022 1,000 (6,081,444 ) - 435,364 (5,645,080 )

Changes in equity
Issue of share capital 1 - 16,419,083 - 16,419,084
Total comprehensive loss - (298,271 ) - - (298,271 )
Balance at 31 January 2023 1,001 (6,379,715 ) 16,419,083 435,364 10,475,733

Changes in equity
Issue of share capital 1 - 3,135,779 - 3,135,780
Total comprehensive income - 2,050,746 - - 2,050,746
Balance at 31 January 2024 1,002 (4,328,969 ) 19,554,862 435,364 15,662,259

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


1. STATUTORY INFORMATION

Impact Radius 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.

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 exemptions 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;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of the 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 is recognized when, or as, control of the promised goods or services is transferred to the company's customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

The company enters into contracts with customers for the provision of SAAS and related services under its core product offering: Partnership Cloud customer contracts are either for services under a single product or for a combination of products, along with setup and onboarding required, ongoing customer and technical support and maintenance, and partner compensation payment support, along with additional optional services.

The company could also earn intercompany management revenues by providing support to various group companies as and when required.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is calculated using the straight-line method over the following estimated useful lives:

CategoryEstimated Useful life
Furniture and fixtures6 years
Computer and Office Equipment3 years
Leasehold ImprovementLesser of 3 years or remaining term of lease


IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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 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 DIRECTOR
2024 2023
£    £   
Wages and salaries 9,103,033 9,391,108
Social security costs 844,693 961,106
Other pension costs 142,143 137,478
10,089,869 10,489,692

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

Average number of employees 84 88

2024 2023
£    £   
Director's remuneration - -

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 727,621 492,279
Depreciation - owned assets 36,757 20,693
Loss on disposal of fixed assets 1,723 8,709
Auditors' remuneration 17,000 21,000
Foreign exchange differences (51,281 ) 2,255,366

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest - 4,335

6. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2024 2023
£    £   
Deferred tax (1,131,339 ) -
Tax on profit/(loss) (1,131,339 ) -

7. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023
and 31 January 2024 11,548
AMORTISATION
At 1 February 2023
and 31 January 2024 11,548
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023 355,496 - 91,758 447,254
Additions 155,751 53,810 6,297 215,858
Disposals - - (16,626 ) (16,626 )
Reclassification/transfer - 9,048 (9,048 ) -
At 31 January 2024 511,247 62,858 72,381 646,486
DEPRECIATION
At 1 February 2023 355,496 - 67,576 423,072
Charge for year 19,035 2,799 14,923 36,757
Eliminated on disposal - - (13,103 ) (13,103 )
Reclassification/transfer - 9,048 (9,048 ) -
At 31 January 2024 374,531 11,847 60,348 446,726
NET BOOK VALUE
At 31 January 2024 136,716 51,011 12,033 199,760
At 31 January 2023 - - 24,182 24,182

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023 2,147,020
Additions 837,543
At 31 January 2024 2,984,563
NET BOOK VALUE
At 31 January 2024 2,984,563
At 31 January 2023 2,147,020

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


9. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Impact Radius (Shanghai) Co Ltd
Registered office: Shanghai Xuhui District (Jinhe Crossing the Boundary), Room 306 5B, No. 8 Hengshan Road 200031
Nature of business: Trading
%
Class of shares: holding
Ordinary 100.00
31/12/23 31/12/22
£    £   
Aggregate capital and reserves 3,496,166 3,406,273
Profit for the year 130,647 516,645

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,153,316 1,078,624
Amounts owed by group undertakings 24,522,642 20,427,083
Other debtors 501,043 559,786
Deferred tax asset 1,131,339 -
Accrued income 482,334 491,020
Prepayments 155,548 186,120
27,946,222 22,742,633

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,933 38,379
Amounts owed to group undertakings 1,714,321 336,833
Social security and other taxes 205,681 195,017
VAT 400,951 169,929
Other creditors 18,478,065 17,479,662
Deferred income 1,176,103 1,652,911
Accrued expenses 1,123,614 1,084,926
23,140,668 20,957,657

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 4,518,627 3,048,584

IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966)

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


13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 356,239 308,936
Between one and five years 1,139,911 1,390,213
1,496,150 1,699,149

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,020,000 Ordinary 0.000 1 1,002 1,001

10,000 Ordinary shares of 0.0001 each were allotted as fully paid at a premium of £313.578 per share during the year.

15. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 February 2023 (6,379,715 ) 16,419,083 435,364 10,474,732
Profit for the year 2,050,746 2,050,746
Cash share issue - 3,135,779 - 3,135,779
At 31 January 2024 (4,328,969 ) 19,554,862 435,364 15,661,257

16. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Impact Holdings Inc., a company incorporated in Delaware (USA). The immediate parent company is Impact Tech Inc., a company also incorporated in the USA.