Impact Sourcing Limited - Limited company accounts 16.3

REGISTERED NUMBER: 05728588 (England and Wales)

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Impact Sourcing Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

J P Bell

SECRETARY:

P A Bell

REGISTERED OFFICE:

Unit 5

Woodgate Crawley Lane

Kings Bromley

Burton on Trent

Staffordshire

DE13 7JF

REGISTERED NUMBER:

05728588 (England and Wales)

ACCOUNTANTS:

P. J. Doyle & Co.

Chartered Accountant

45 Heather Drive

Rednal

Birmingham

B45 9RA

The director presents his report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of sale

of miscellaneous goods.

DIRECTOR

J P Bell held office during the whole of the period from 1 April 2016 to the
date of this report.

This report has been prepared in accordance with the provisions of Part 15 of

the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J P Bell - Director

22 May 2017

TURNOVER

55,283

34,801

Cost of sales

5,123

4,666

GROSS PROFIT

50,160

30,135

Administrative expenses

38,634

27,361

OPERATING PROFIT

4

11,526

2,774

Interest receivable and
similar income

11

35

PROFIT BEFORE TAXATION

11,537

2,809

Tax on profit

2,330

578

PROFIT FOR THE FINANCIAL YEAR

9,207

2,231

FIXED ASSETS

Tangible assets

5

-

257

CURRENT ASSETS

Stocks

1,010

937

Debtors

6

3,185

936

Cash at bank

11,655

6,570

15,850

8,443

CREDITORS

Amounts falling due within one
year

7

4,974

4,031

NET CURRENT ASSETS

10,876

4,412

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,876

4,669

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

10,874

4,667

SHAREHOLDERS' FUNDS

10,876

4,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 May 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.17

31.3.16

£

Depreciation - owned assets

257

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

3,992

DEPRECIATION

At 1 April 2016

3,735

Charge for year

257

At 31 March 2017

3,992

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

3,185

936

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade creditors

739

1,161

Taxation and social security

4,235

2,870

4,974

4,031