Company Registration No. 14088726 (England and Wales)
Impala Collective Ltd
Unaudited accounts
for the year ended 31 May 2024
Impala Collective Ltd
Unaudited accounts
Contents
Impala Collective Ltd
Company Information
for the year ended 31 May 2024
Company Number
14088726 (England and Wales)
Registered Office
86-90 Paul Street
London
EC2A 4NE
United Kingdom
Accountants
Lilley & Co (UK) Limited
Suite 8
57 High Street
Ibstock
Leicestershire
LE67 6LH
Impala Collective Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
48,817
385
Cash at bank and in hand
57,295
64,761
Creditors: amounts falling due within one year
(31,768)
(47,288)
Net current assets
25,527
57,492
Total assets less current liabilities
74,344
57,877
Creditors: amounts falling due after more than one year
(42,923)
-
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
22,145
57,780
Shareholders' funds
22,146
57,781
For the year ending 31 May 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2025 and were signed on its behalf by
Caroline Cooke
Director
Company Registration No. 14088726
Impala Collective Ltd
Notes to the Accounts
for the year ended 31 May 2024
Impala Collective Ltd is a private company, limited by shares, registered in England and Wales, registration number 14088726. The registered office is 86-90 Paul Street, London, EC2A 4NE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. T
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
25% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Impala Collective Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 May 2024
58,580
-
58,580
Charge for the year
9,763
-
9,763
At 31 May 2024
9,763
-
9,763
At 31 May 2024
48,817
-
48,817
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
8,438
-
Taxes and social security
3,231
27,090
Loans from directors
16,767
200
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
42,923
-
Impala Collective Ltd
Notes to the Accounts
for the year ended 31 May 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director
(200)
-
16,567
(16,767)
This amount is reflected in the director's loan accounts in credit balance, which is shown as Loans from directors under Creditors due within one year. Please be advised that the director has agreed to provide this loan on an interest free basis and the loan is repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).