Silverfin false false 31/07/2024 26/07/2023 31/07/2024 John MacDonald 26/07/2023 Thomas Wilson 01/11/2023 25 April 2025 The principal activity of the company during the financial period was that of an advertising agency. SC777032 2024-07-31 SC777032 bus:Director1 2024-07-31 SC777032 bus:Director2 2024-07-31 SC777032 core:CurrentFinancialInstruments 2024-07-31 SC777032 core:ShareCapital 2024-07-31 SC777032 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC777032 bus:OrdinaryShareClass1 2024-07-31 SC777032 2023-07-26 2024-07-31 SC777032 bus:FilletedAccounts 2023-07-26 2024-07-31 SC777032 bus:SmallEntities 2023-07-26 2024-07-31 SC777032 bus:AuditExemptWithAccountantsReport 2023-07-26 2024-07-31 SC777032 bus:PrivateLimitedCompanyLtd 2023-07-26 2024-07-31 SC777032 bus:Director1 2023-07-26 2024-07-31 SC777032 bus:Director2 2023-07-26 2024-07-31 SC777032 bus:OrdinaryShareClass1 2023-07-26 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC777032 (Scotland)

IMPULSE TEAM LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 26 JULY 2023 TO 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

IMPULSE TEAM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 26 JULY 2023 TO 31 JULY 2024

Contents

IMPULSE TEAM LIMITED

BALANCE SHEET

AS AT 31 JULY 2024
IMPULSE TEAM LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 31.07.2024
£
Current assets
Debtors 3 55,772
Cash at bank and in hand 4 1,300
57,072
Creditors: amounts falling due within one year 5 ( 54,423)
Net current assets 2,649
Total assets less current liabilities 2,649
Net assets 2,649
Capital and reserves
Called-up share capital 6 2
Profit and loss account 2,647
Total shareholders' funds 2,649

For the financial period ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Impulse Team Limited (registered number: SC777032) were approved and authorised for issue by the Board of Directors on 25 April 2025. They were signed on its behalf by:

John MacDonald
Director
Thomas Wilson
Director
IMPULSE TEAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 26 JULY 2023 TO 31 JULY 2024
IMPULSE TEAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 26 JULY 2023 TO 31 JULY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Impulse Team Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Springfield House Laurelhill Business Park, Laurel Hill, Stirling, FK7 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
26.07.2023 to
31.07.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Debtors

31.07.2024
£
Other debtors 55,772

4. Cash and cash equivalents

31.07.2024
£
Cash at bank and in hand 1,300

5. Creditors: amounts falling due within one year

31.07.2024
£
Taxation and social security 50,923
Other creditors 3,500
54,423

6. Called-up share capital

31.07.2024
£
Allotted, called-up and fully-paid
2 Oridinary ordinary shares of £ 1.00 each 2

7. Related party transactions

Transactions with the entity's directors

31.07.2024
£
Amounts due from Key management personnel - John MacDonald 35,226
Amounts due from Key management personnel - Thomas Wilson 8,655