Impact Refinishers Limited - Filleted accounts

Registered number

03689329

Impact Refinishers Limited

Filleted Accounts

31 May 2025

Impact Refinishers Limited
Registered number:		03689329
Balance Sheet
as at 31 May 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		5,269			6,394

Current assets
Stocks		17,243			33,195
Debtors	5	156,602			56,106
Cash at bank and in hand		57,030			59,538
		230,875			148,839

Creditors: amounts falling due within one year	6	(125,985)			(91,018)

Net current assets			104,890			57,821

Total assets less current liabilities			110,159			64,215


Provisions for liabilities			(807)			(807)


Net assets			109,352			63,408

Capital and reserves
Called up share capital			10			10
Profit and loss account			109,342			63,398

Shareholders' funds			109,352			63,408

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




W Gregson
Director
Approved by the board on 31 October 2025

Impact Refinishers Limited
Notes to the Accounts
for the year ended 31 May 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% on written down value
	Office equipment	20% on written down value
	Motor vehicle	20% on written down value

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			7		7


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 June 2024					14,000
	At 31 May 2025					14,000

	Amortisation
	At 1 June 2024					14,000
	At 31 May 2025					14,000

	Net book value
	At 31 May 2025					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.

4	Tangible fixed assets
		Plant and machinery		Office equipment		Total
£			£		£
	Cost
	At 1 June 2024	76,716		39,371		116,087
	Additions	157		-		157
	At 31 May 2025	76,873		39,371		116,244

	Depreciation
	At 1 June 2024	73,578		36,115		109,693
	Charge for the year	632		650		1,282
	At 31 May 2025	74,210		36,765		110,975

	Net book value
	At 31 May 2025	2,663		2,606		5,269
	At 31 May 2024	3,138		3,256		6,394


5	Debtors			2025		2024
£					£

	Trade debtors			146,742		52,543
	Other debtors			9,860		3,563
				156,602		56,106


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			52,994		50,333
	Taxation and social security costs			63,423		29,237
	Other creditors			9,568		11,448
				125,985		91,018


7	Other information

	Impact Refinishers Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Main Street
	Hull
	HU2 0LF