IMPACTCHOICE LIMITED 31/01/2022 iXBRL

IMPACTCHOICE LIMITED 31/01/2022 iXBRL

IMPACTCHOICE LIMITED - Company Information

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Company registration number: 06943162
IMPACTCHOICE LIMITED
Unaudited filleted financial statements
31 January 2022
IMPACTCHOICE LIMITED
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
IMPACTCHOICE LIMITED
Directors and other information
Director Mr A K Rowe
Secretary KHCS Secretaries Limited
Company number 06943162
Registered office Unit 2 Capital Business Park
Manor Way, Borehamwood
Hertfordshire
England
WD6 1GW
IMPACTCHOICE LIMITED
Statement of financial position
31 January 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 - 254
_______ _______
- 254
Current assets
Debtors 6 18,865 19,177
Cash at bank and in hand 11,455 9,468
_______ _______
30,320 28,645
Creditors: amounts falling due
within one year 7 ( 174,814) ( 177,823)
_______ _______
Net current liabilities ( 144,494) ( 149,178)
_______ _______
Total assets less current liabilities ( 144,494) ( 148,924)
_______ _______
Net liabilities ( 144,494) ( 148,924)
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account ( 145,494) ( 149,924)
_______ _______
Shareholders deficit ( 144,494) ( 148,924)
_______ _______
For the year ending 31 January 2022 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 December 2022 , and are signed on behalf of the board by:
Mr A K Rowe
Director
IMPACTCHOICE LIMITED
Notes to the financial statements
Year ended 31 January 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Capital Business Park, Manor Way, Borehamwood, Hertfordshire, England, WD6 1GW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
The aggregate payroll costs incurred during the year were:
2022 2021
£ £
Wages and salaries 43,872 43,851
_______ _______
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 February 2021 and 31 January 2022 2,535 2,535
_______ _______
Depreciation
At 1 February 2021 2,281 2,281
Charge for the year 254 254
_______ _______
At 31 January 2022 2,535 2,535
_______ _______
Carrying amount
At 31 January 2022 - -
_______ _______
At 31 January 2021 254 254
_______ _______
6. Debtors
2022 2021
£ £
Trade debtors 9,696 10,523
Other debtors 9,169 8,654
_______ _______
18,865 19,177
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 134 1,974
Social security and other taxes - 1,169
Other creditors 174,680 174,680
_______ _______
174,814 177,823
_______ _______