2023-06-012024-05-312024-05-31false11982094IMPEL TALENT 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IMPEL TALENT LTD

Registered Number
11982094
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

IMPEL TALENT LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

CHAPMAN, Nathaniel Robert

Registered Address

Flat 101 45 Hopton Road
Flat 101
London
SE18 6TJ

Registered Number

11982094 (England and Wales)
IMPEL TALENT LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,2564,310
3,2564,310
Current assets
Debtors4608,954207,744
Cash at bank and on hand111,168484,513
720,122692,257
Creditors amounts falling due within one year5(137,240)(220,980)
Net current assets (liabilities)582,882471,277
Total assets less current liabilities586,138475,587
Creditors amounts falling due after one year6(138,000)-
Provisions for liabilities7(814)(1,078)
Net assets447,324474,509
Capital and reserves
Called up share capital110110
Profit and loss account447,214474,399
Shareholders' funds447,324474,509
The financial statements were approved and authorised for issue by the Director on 3 February 2025, and are signed on its behalf by:
CHAPMAN, Nathaniel Robert
Director
Registered Company No. 11982094
IMPEL TALENT LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number is 11982094. The registered office address is: Flat 101 45 Hopton Road London SE18 6TJ
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year67
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 233,9073,7127,619
Additions-774774
At 31 May 243,9074,4868,393
Depreciation and impairment
At 01 June 238892,4203,309
Charge for year7731,0551,828
At 31 May 241,6623,4755,137
Net book value
At 31 May 242,2451,0113,256
At 31 May 233,0181,2924,310
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables187,282188,903
Amounts owed by associates and joint ventures / participating interests400,9176,953
Other debtors4,2972,500
Prepayments and accrued income16,4589,388
Total608,954207,744
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables57,06113,482
Taxation and social security14,11661,318
Other creditors30,479146,180
Accrued liabilities and deferred income35,584-
Total137,240220,980
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts138,000-
Total138,000-
Creditors due after one year includes a loan from the director of Impel Talent Ltd. There is no interest due on the loan and there is no fixed date of repayment.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8141,078
Total8141,078