Impact Technical Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07532316 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

IMPACT TECHNICAL SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr NJ Ball

Mrs VK Ball

Mr A Bosworth

Mr P Church

Ms A Crona

Mr D Prelevic

REGISTERED OFFICE:

3 Kingsley Street

Leicester

Leicestershire

LE2 6DY

REGISTERED NUMBER:

07532316 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Harrison BA(Hons) FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

FIXED ASSETS

Tangible assets

4

21,936

27,041

CURRENT ASSETS

Stocks

128,944

128,873

Debtors

5

960,898

741,132

Cash at bank and in hand

480,199

372,198

1,570,041

1,242,203

CREDITORS

Amounts falling due within one year

6

347,431

509,967

NET CURRENT ASSETS

1,222,610

732,236

TOTAL ASSETS LESS CURRENT LIABILITIES

1,244,546

759,277

PROVISIONS FOR LIABILITIES

5,797

5,797

NET ASSETS

1,238,749

753,480

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,238,649

753,380

SHAREHOLDERS' FUNDS

1,238,749

753,480

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 Board of Directors and authorised for issue on 25 April 2022 and were signed on its behalf by:

Mr NJ Ball - Director

Mrs VK Ball - Director

1.	STATUTORY INFORMATION

Impact Technical Services Ltd 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.

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

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.

Last year the company's year end was shortened to 31 March 2021, to bring in line with the rest of the group. This created a 5 month period for last year whereas this year was a 12 month period, therefore the comparatives are not entirely comparable.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. The company supplies products and services to customers under standard terms and conditions via contracts.

Turnover on uncompleted contracts is determined on the basis of the stage of completion of each contract and this is calculated by multiplying the contract's full sales value by the estimated percentage of completion for that contract which is included in the amounts recoverable on contract.

Tangible fixed assets

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

Plant and machinery

-

at variable rates on cost and balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

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 balance sheet date.

Deferred tax

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2021

and 31 March 2022

26,584

7,609

34,925

23,743

92,861

DEPRECIATION

At 1 April 2021

20,907

5,671

20,752

18,490

65,820

Charge for year

968

290

1,569

2,278

5,105

At 31 March 2022

21,875

5,961

22,321

20,768

70,925

NET BOOK VALUE

At 31 March 2022

4,709

1,648

12,604

2,975

21,936

At 31 March 2021

5,677

1,938

14,173

5,253

27,041

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

372,321

404,085

Amounts owed by group undertakings

521,996

200,000

Amounts recoverable on contract

65,642

134,755

Other debtors

939

2,292

960,898

741,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Payments on account

98,573

118,059

Trade creditors

120,040

171,127

Amounts owed to group undertakings

-

13,185

Taxation and social security

84,802

184,480

Other creditors

44,016

23,116

347,431

509,967

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Harrison BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

8.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £26,191 (2021 - £41,351).

9.	ULTIMATE CONTROLLING PARTY

The company's parent company is Team 17 Limited. Team 17 Limited owns 100% of the shares in Impact Technical Services Limited. The registered address for Team 17 Limited is 3 Kingsley Street, Leicester, LE2 6DY.

The ultimate parent company and controlling party is Addtech Nordec AB which owns 100% of Team 17 Limited and is a Swedish public limited company. The group accounts can be found at Birger Jarlsgatan 43, Box 5112 102 43, Stockholm, Sweden.