Impact Products Limited - Abbreviated accounts 16.1
Impact Products Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 31 July 2015 |
| for |
| Impact Products Limited |
| Impact Products Limited (Registered number: 03934044) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 July 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Impact Products Limited |
| Company Information |
| for the Year Ended 31 July 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Impact Products Limited (Registered number: 03934044) |
| Abbreviated Balance Sheet |
| 31 July 2015 |
| 31/7/15 | 31/7/14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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. |
| Impact Products Limited (Registered number: 03934044) |
| Abbreviated Balance Sheet - continued |
| 31 July 2015 |
| The financial statements were approved by the Board of Directors on |
| Impact Products Limited (Registered number: 03934044) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 July 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the balance sheet date the liabilities exceeded the assets by £86,163.The directors consider this to be |
| temporary and consider it appropriate to prepare the financial statements on a going concern basis. The |
| financial statements do not include any adjustments that may have to be made should the company be |
| unsuccessful in at least maintaining the current levels of financial support from its directors and suppliers. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sale of goods and lease rentals excluding value added tax. |
| Tangible fixed assets |
| Improvements to office | - |
| Fixtures & fittings | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| 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. |
| Finance lease income and receivables |
| Income from finance leasing contracts is credited to the profit and loss account in proportion to the funds |
| invested. Finance lease receivables are stated in the balance sheet at the net investment in the lease after |
| deduction of unearned charges. |
| Impact Products Limited (Registered number: 03934044) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2014 |
| and 31 July 2015 |
| DEPRECIATION |
| At 1 August 2014 |
| Charge for year |
| At 31 July 2015 |
| NET BOOK VALUE |
| At 31 July 2015 |
| At 31 July 2014 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/7/15 | 31/7/14 |
| value: | £ | £ |
| ordinary | 1 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2015 and |
| 31 July 2014: |
| 31/7/15 | 31/7/14 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| Interest at the rate of 3.5% per annum amounting to £5,830 (2014 - £5,200) was charged for the monies |
| advanced. |