Company registration number 11668363 (England and Wales)
IMPACT LENS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
IMPACT LENS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
IMPACT LENS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61
Current assets
Cash at bank and in hand
5,439
920
Creditors: amounts falling due within one year
4
(6,994)
(18,633)
Net current liabilities
(1,555)
(17,713)
Total assets less current liabilities
(1,555)
(17,652)
Creditors: amounts falling due after more than one year
5
(28,275)
(28,202)
Net liabilities
(29,830)
(45,854)
Capital and reserves
Called up share capital
75
100
Share premium account
89,975
Profit and loss reserves
(29,905)
(135,929)
Total equity
(29,830)
(45,854)
For the financial year ended 30 November 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 20 August 2025 and are signed on its behalf by:
J H Ditchfield
Director
Company registration number 11668363 (England and Wales)
IMPACT LENS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 December 2022
100
89,975
(124,278)
(34,203)
Year ended 30 November 2023:
Loss and total comprehensive income
-
-
(11,651)
(11,651)
Balance at 30 November 2023
100
89,975
(135,929)
(45,854)
Year ended 30 November 2024:
Profit and total comprehensive income
-
-
16,024
16,024
Redemption of shares
(25)
(25)
Other movements
-
(89,975)
90,000
25
Balance at 30 November 2024
75
(29,905)
(29,830)
IMPACT LENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Impact Lens Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 49 St James's Street, London, SW1A 1AH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company meets its working capital requirements through loans provided by the directors. As the directors have confirmed that they will provide the required financial assistance to ensure that any liabilities are met as they fall due they consider it appropriate to prepare these accounts on a going concern basis. true
1.3
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
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 current liabilities.
IMPACT LENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.
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.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
3
IMPACT LENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
4,108
Disposals
(578)
At 30 November 2024
3,530
Depreciation and impairment
At 1 December 2023
4,047
Depreciation charged in the year
61
Eliminated in respect of disposals
(578)
At 30 November 2024
3,530
Carrying amount
At 30 November 2024
At 30 November 2023
61
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
824
600
Other creditors
6,170
18,033
6,994
18,633
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,275
28,202
The bank loan is a bounce back loan repayable in June 2026.
6
Related party transactions
Balances with related parties
IMPACT LENS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
6
Related party transactions
(Continued)
- 6 -
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Stane Street Ltd
5,300
12,609