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Impact Innovation & Growth Services
Limited

Financial Statements for the Year Ended 30 June 2024






Impact Innovation & Growth Services
Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: D Notley





REGISTERED OFFICE: Merlin House Priory Drive
Langstone
Newport
NP18 2HJ





REGISTERED NUMBER: 02845844 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Impact Innovation & Growth Services
Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Impact Innovation & Growth Services Limited for the year ended 30 June 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Impact Innovation & Growth Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Impact Innovation & Growth Services Limited and state those matters that we have agreed to state to the director of Impact Innovation & Growth Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Impact Innovation & Growth Services Limited and its director for our work or for this report.

It is your duty to ensure that Impact Innovation & Growth Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Impact Innovation & Growth Services Limited. You consider that Impact Innovation & Growth Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Impact Innovation & Growth Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


28 March 2025

Impact Innovation & Growth Services
Limited (Registered number: 02845844)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 260,405 336,137

CURRENT ASSETS
Debtors 4 1,224,949 1,117,689
Cash at bank 631 23,642
1,225,580 1,141,331
CREDITORS
Amounts falling due within one year 5 145,735 232,740
NET CURRENT ASSETS 1,079,845 908,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,340,250

1,244,728

CAPITAL AND RESERVES
Called up share capital 10,500 10,500
Retained earnings 1,329,750 1,234,228
1,340,250 1,244,728

Impact Innovation & Growth Services
Limited (Registered number: 02845844)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





D Notley - Director


Impact Innovation & Growth Services
Limited (Registered number: 02845844)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Impact Innovation & Growth Services
Limited (Registered number: 02845844)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£ £ £
COST
At 1 July 2023
and 30 June 2024 334,992 9,136 344,128
DEPRECIATION
At 1 July 2023 - 7,991 7,991
Charge for year - 740 740
Impairments 74,992 - 74,992
At 30 June 2024 74,992 8,731 83,723
NET BOOK VALUE
At 30 June 2024 260,000 405 260,405
At 30 June 2023 334,992 1,145 336,137

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 4,307 33,491
Amounts owed by group undertakings 15,462 462
Other debtors & prepayments 1,205,180 1,083,736
1,224,949 1,117,689

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 3,064 32,414
Amounts owed to group undertakings 44,000 85,441
Taxes & social security costs 93,046 110,433
Other creditors & accruals 5,625 4,452
145,735 232,740

Impact Innovation & Growth Services
Limited (Registered number: 02845844)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
D Notley
Balance outstanding at start of year 623,966 586,093
Amounts advanced 325,827 39,082
Amounts repaid (150,070 ) (1,209 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 799,723 623,966