Company No:
Contents
The director presents this annual report and the unaudited financial statements of the Company for the financial year ended 31 October 2024.
DIRECTOR'S RESPONSIBILITIES STATEMENT
The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the director must not approve the financial statements unless the director is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that financial period.
In preparing these financial statements, the director is required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent; and
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
DIRECTORS IMPACT OVERVIEW
We help business leaders to activate their purpose, communicate with clarity and create positive social, environmental and governance changes for the brightest future.
Our vision has remained the same since 2021; ' to create a better world with equality for women and girls and climate action at the core of everything we do' and in 2025 we changed our company name to better reflect this. We are now known as AG Impact Ltd.
Our purpose at AG is to have a material positive impact on society and the environment by helping leaders and businesses to improve their impact on people, nature and our planet.
We’ve been increasing our impact during 2023 & 2024 through direct and indirect support to drive three of the 17 UN Sustainable Development Goals (SDG) that we feel most align with our vision; #5 Equality for Women and Girls, #8 Decent Work and Economic Growth and #13 Climate Action.
Here are some of our 2023/24 key highlights that we are most proud of, and you can access our full Impact Report on our website www.ag-impact.co.uk.
**SDG #5 Equality for Women and Girls**
We have directly supported 265 women and girls
•100% employees had external professional development training
•75% of our suppliers (AG Members) are women owned businesses
•60% client projects we support have women leaders
•We gave 2 young women mentoring, work experience or career advice
•84 businesswomen had free Communications, ESG and Impact advice for their business
•Delivered pro-bono consultancy to SHE Change Climate (non-profit) on their strategy development, research and workshop delivery with 10 women from around the world
•Attended #CSW68 as a UN Women UK Delegate, attending 23 hrs of global dialogue around women’s inequitable access to funding
**SDG #8 Decent Work and Economic Growth**
We provide good working opportunities and empowerment for our stakeholders
•100% employees had a pay rise and bonus and have free 121 sessions with an independent Financial Advisor to support long term financial planning
•We negotiated increased, equitable day rates with 90% of our global clients
•100% AG Members (our consultant suppliers) had a rate increase, instigated by us
•We launched our DEI, Neurodiversity and Environmental Policies across our client projects, to positively impact our client’s communications with their employees
•We offered three micro-placements (work experience) for 18-24 year olds with Not Impossible
•Gave 12 days of pro-bono Consultancy to 113 for profit business leaders
**SDG #13 Climate Action**
We take action to reduce the negative impacts that doing business has on our planet
•We have removed all Scope 1 & 2 from our entire business – achieving our SBTi near team goal six years early
•We have supported 28 people in Carbon Literacy Training, with 100% employees and 92% of our Suppliers (AG Members) being certified by The Carbon Literacy Project
•We actively supported Rewilding Britain, Business Declares, Power for People and The Better Business Act through funding, advocacy, lobbying our local MPs, signing petitions and attending positive activations to demand better climate policies to protect nature, people and our planet
•We reached our goal one year early, planting 25,000 trees with Ecologi by 2025
We started tracking our support to non-profits in 2020 and by 31 October 2024, we donated £124,697 to Equality and Climate related missions – this important support helps to fund salaries, communications and activations to drive systemic change in the UK and Globally.
AG was also awarded EcoVadis Platinum status in September 2024 for our approach to Environment, Human Rights and Ethics. This places us in the top 1% of business in the EcoVadis global community, where +140,000 businesses undertake annual reporting. This is a testament to our vision, purpose and goal to be a brilliant business to work with, as we use business as a force for good.
2025 will see us focus on our supply chain and how we can improve our suppliers’ positive impact. We have our sights set on achieving Carbon Literacy Organisation status and becoming an EcoVadis Training Partner so that we can increase the number of businesses we support on impact improvement and communications.
DIRECTOR
The director, who served during the financial year and to the date of this report except as noted, was as follows:
|
|
Approved and signed by:
|
L A Griffiths
Director |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 7,448 | 8,040 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 1,118,826 | 836,121 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current assets | 196,673 | 88,263 | ||
| Total assets less current liabilities | 204,121 | 96,303 | ||
| Creditors: amounts falling due after more than one year | 6 | (
|
(
|
|
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Director's responsibilities:
The financial statements of AG Impact Ltd (registered number:
|
L A Griffiths
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
AG Impact Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Glasshouse Alderley Park, Alderley Edge, Macclesfield, SK10 4TG, 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 £.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Fixtures and fittings |
|
| Computer equipment |
|
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Equity dividends are recognised when they become legally payable.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
|
|
| Fixtures and fittings | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 November 2023 |
|
|
|
||
| Additions |
|
|
|
||
| At 31 October 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 November 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| At 31 October 2024 |
|
|
|
||
| Net book value | |||||
| At 31 October 2024 | 3,805 | 3,643 | 7,448 | ||
| At 31 October 2023 | 5,086 | 2,954 | 8,040 |
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
Pensions
The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
| 2024 | 2023 | ||
| £ | £ | ||
| Unpaid contributions due to the fund (inc. in other creditors) |
|
|