REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
IMPACT RADIUS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
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: |
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 |
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: |
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. |
for and on behalf of |
Chartered Accountants and |
Statutory Auditors |
38 Craven Street |
London |
WC2N 5NG |
IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT/(LOSS) | 4 | ( |
) |
Interest receivable and similar income |
919,407 | (293,936 | ) |
Interest payable and similar expenses | 5 | ( |
) |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | 6 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
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 | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE YEAR |
( |
) |
IMPACT RADIUS LIMITED (REGISTERED NUMBER: 06852966) |
BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
12 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 14 |
Share premium | 15 |
Other reserves | 15 |
Retained earnings | 15 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
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 | ( |
) | ( |
) |
Changes in equity |
Issue of share capital | - | - |
Total comprehensive loss | - | ( |
) | - | ( |
) |
Balance at 31 January 2023 | 1,001 | (6,379,715 | ) | 16,419,083 | 10,475,733 |
Changes in equity |
Issue of share capital | - | - |
Total comprehensive income | - | - |
Balance at 31 January 2024 | ( |
) |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Depreciation is calculated using the straight-line method over the following estimated useful lives: |
Category | Estimated Useful life |
Furniture and fixtures | 6 years |
Computer and Office Equipment | 3 years |
Leasehold Improvement | Lesser 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 |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Average number of employees |
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 |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
Foreign exchange differences | ( |
) |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Bank interest |
6. | TAXATION |
Analysis of the tax credit |
The tax credit on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Deferred tax | ( |
) |
Tax on profit/(loss) | ( |
) |
7. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
and 31 January 2024 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
9. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
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 |
9. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Shanghai Xuhui District (Jinhe Crossing the Boundary), Room 306 5B, No. 8 Hengshan Road 200031 |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Deferred tax asset |
Accrued income |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 400,951 | 169,929 |
Other creditors |
Deferred income |
Accrued expenses |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
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 |
Between one and five years |
14. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.000 | 1 | 1,002 | 1,001 |
10,000 Ordinary shares of 0.0001 each were allotted as fully paid |
15. | RESERVES |
Retained | Share | Other |
earnings | premium | reserves | Totals |
£ | £ | £ | £ |
At 1 February 2023 | ( |
) | 10,474,732 |
Profit for the year |
Cash share issue | - | 3,135,779 | - | 3,135,779 |
At 31 January 2024 | ( |
) | 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. |