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Registration number: 07401733

Impact Education & Training Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Impact Education & Training Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Impact Education & Training Limited

Company Information

Directors

Mr T A Breen

Miss J L Williams

Registered office

240 Halesowen Road
Old Hill
Cradley Heath
West Midlands
B64 6JA

Accountants

Neil Westwood & Co
Chartered Accountants101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ

 

Impact Education & Training Limited

(Registration number: 07401733)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

141,630

73,434

Current assets

 

Debtors

5

190,105

680,077

Cash at bank and in hand

 

581,098

66,841

 

771,203

746,918

Creditors: Amounts falling due within one year

6

(539,599)

(649,033)

Net current assets

 

231,604

97,885

Total assets less current liabilities

 

373,234

171,319

Creditors: Amounts falling due after more than one year

6

-

(3,656)

Provisions for liabilities

(15,194)

(3,042)

Net assets

 

358,040

164,621

Capital and reserves

 

Called up share capital

100

100

Retained earnings

357,940

164,521

Shareholders' funds

 

358,040

164,621

 

Impact Education & Training Limited

(Registration number: 07401733)
Balance Sheet as at 31 August 2024 (continued)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 


Mr T A Breen
Director

 

Impact Education & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
240 Halesowen Road
Old Hill
Cradley Heath
West Midlands
B64 6JA

These financial statements were authorised for issue by the Board on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Impact Education & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

33% on cost

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Impact Education & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2023 - 37).

 

Impact Education & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

53,781

138,598

192,379

Additions

33,996

51,126

85,122

At 31 August 2024

87,777

189,724

277,501

Depreciation

At 1 September 2023

28,461

90,484

118,945

Charge for the year

4,898

12,028

16,926

At 31 August 2024

33,359

102,512

135,871

Carrying amount

At 31 August 2024

54,418

87,212

141,630

At 31 August 2023

25,320

48,114

73,434

5

Debtors

2024
£

2023
£

Trade debtors

128,955

627,801

Other debtors

47,621

45,300

Prepayments

13,529

6,976

190,105

680,077

 

Impact Education & Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,656

4,000

Taxation and social security

 

106,071

38,933

Accruals and deferred income

 

404,152

605,203

Other creditors

 

25,720

897

 

539,599

649,033


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £3,656).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

3,656


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £3,656).

7

Related party transactions

The controlling party is Mr T A Breen.