Impact Sourcing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05728588 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Impact Sourcing Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountant

6

DIRECTOR:

J P Bell

SECRETARY:

Mrs P A Bell

REGISTERED OFFICE:

Unit 5 The Aviary Woodgate Crawley Lane

Kings Bromley

Burton-On-Trent

Staffordshire

DE13 7JF

REGISTERED NUMBER:

05728588 (England and Wales)

ACCOUNTANT:

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

CURRENT ASSETS

Stocks

5

1,915

1,856

Debtors

6

3,833

4,712

Cash at bank

9,995

8,497

15,743

15,065

CREDITORS

Amounts falling due within one year

7

7,486

9,055

NET CURRENT ASSETS

8,257

6,010

TOTAL ASSETS LESS CURRENT LIABILITIES

8,257

6,010

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8,255

6,008

8,257

6,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2020 and were signed by:

J P Bell - Director

1.	STATUTORY INFORMATION

Impact Sourcing Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

and 31 March 2020

3,992

DEPRECIATION

At 1 April 2019

and 31 March 2020

3,992

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.

STOCKS

31.3.20

31.3.19

£

£

Finished goods

1,915

1,856

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

3,833

4,712

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Tax

1,936

1,387

Social security and other taxes

1,817

1,612

Other creditors

3,133

5,706

Accrued expenses

600

350

7,486

9,055

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

10 June 2020