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Registration number: 07438962

Impact Printing Services Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Impact Printing Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Impact Printing Services Limited

Company Information

Director

AJ Parsons-White

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Impact Printing Services Limited

(Registration number: 07438962)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,015

26,287

Current assets

 

Stocks

5

728

750

Debtors

6

58,377

60,954

Cash at bank and in hand

 

9,618

-

 

68,723

61,704

Creditors: Amounts falling due within one year

7

(45,477)

(67,698)

Net current assets/(liabilities)

 

23,246

(5,994)

Total assets less current liabilities

 

46,261

20,293

Creditors: Amounts falling due after more than one year

7

(38,971)

(13,316)

Provisions for liabilities

(5,754)

(4,698)

Net assets

 

1,536

2,279

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,436

2,179

Shareholders' funds

 

1,536

2,279

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Impact Printing Services Limited

(Registration number: 07438962)
Balance Sheet as at 30 November 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 August 2025
 

.........................................
AJ Parsons-White
Director

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

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.

The presentation currency of the financial statements is Pound Sterling (£).

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 Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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

Office equipment

3 Years straight line

Plant and machinery

15% Reducing balance

Motor vehicles

25% Reducing balance

Land and buildings

No depreciation

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 2).

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

1,561

10,377

7,295

49,871

69,104

Additions

-

848

-

-

848

At 30 November 2024

1,561

11,225

7,295

49,871

69,952

Depreciation

At 1 December 2023

-

9,927

3,192

29,698

42,817

Charge for the year

-

482

1,026

2,612

4,120

At 30 November 2024

-

10,409

4,218

32,310

46,937

Carrying amount

At 30 November 2024

1,561

816

3,077

17,561

23,015

At 30 November 2023

1,561

450

4,103

20,173

26,287

Included within the net book value of land and buildings above is £1,561 (2023 - £1,561) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Stocks

728

750

6

Debtors

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Debtors (continued)

Current

2024
£

2023
£

Trade debtors

32,580

26,233

Prepayments

2,252

2,777

Other debtors

23,545

31,944

 

58,377

60,954

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

16,450

36,953

Trade creditors

 

11,455

14,271

Taxation and social security

 

13,329

8,364

Accruals and deferred income

 

3,150

3,074

Other creditors

 

1,093

5,036

 

45,477

67,698

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

38,971

13,316

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Related party transactions

Transactions with the director

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

AJ Parsons-White

18,974

34,674

(33,360)

20,288

         

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

AJ Parsons-White

(3,190)

45,191

(23,027)

18,974

Interest has been paid at the official rate on the overdrawn position. No section S455 has been provided as the loan has been repaid within 9 months of the year end.

 

Impact Printing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

38,971

13,316

Current loans and borrowings

2024
£

2023
£

Bank borrowings

16,450

9,370

Bank overdrafts

-

27,583

16,450

36,953