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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements |
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for the Period 1st December 2015 to 31st January 2017 |
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for |
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IMPACTCHOICE LIMITED |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements |
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for the Period 1st December 2015 to 31st January 2017 |
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for |
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IMPACTCHOICE LIMITED |
IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Contents of the Financial Statements |
for the Period 1st December 2015 to 31st January 2017 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Statement of Comprehensive Income | 3 |
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Statement of Financial Position | 4 |
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Statement of Changes in Equity | 5 |
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Notes to the Financial Statements | 6 | to | 9 |
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IMPACTCHOICE LIMITED |
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Company Information |
for the Period 1st December 2015 to 31st January 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Unit 2 Capital Business Park |
Manor Way |
Borehamwood |
WD6 1GW |
IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Report of the Directors |
for the Period 1st December 2015 to 31st January 2017 |
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The directors present their report with the financial statements of the company for the period 1st December 2015 to 31st January 2017. |
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PRINCIPAL ACTIVITY |
The company is engaged to carry on business as a general commercial company and operates principally in South |
Africa. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st December 2015 to the date of this |
report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Statement of Comprehensive Income |
for the Period 1st December 2015 to 31st January 2017 |
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Period |
1/12/15 |
to | Year Ended |
31/1/17 | 30/11/15 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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(36,857 | ) | (9,624 | ) |
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Other operating income |
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OPERATING (LOSS)/PROFIT and |
(LOSS)/PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION |
3 |
( |
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Tax on (loss)/profit on ordinary activities | 4 |
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(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD |
( |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE
(LOSS)/INCOME FOR THE PERIOD |
( |
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IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Statement of Financial Position |
31st January 2017 |
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2017 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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The financial statements were approved by the Board of Directors on
by: |
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IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Statement of Changes in Equity |
for the Period 1st December 2015 to 31st January 2017 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1st December 2014 |
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( |
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Changes in equity |
Issue of share capital |
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Total comprehensive income | - |
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Balance at 30th November 2015 |
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( |
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Changes in equity |
Total comprehensive loss | - | ( |
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Balance at 31st January 2017 |
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( |
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IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Notes to the Financial Statements |
for the Period 1st December 2015 to 31st January 2017 |
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1. | STATUTORY INFORMATION |
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ImpactChoice Limited is a private company, limited by shares, domiciled in England and Wales, registration |
number 06943162. The registered office is Unit 2 Capital Business Park, Manor Way, Borehamwood, WD6 |
1GW. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A |
small entities "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 and are presented in pounds |
sterling. |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and |
have remained unchanged from the previous year and also have been consistently applied within the same |
accounts. |
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These financial statements are the first financial statements to comply with FRS 102 Section 1A small entities. |
The date of transition is 1 December 2013. |
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The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting |
policies to those used previously. The nature of these changes and their impact on opening equity and profit for |
the comparative period are explained in the notes below on pages 11-13. |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, |
as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to |
write off tangible fixed assets over their expected useful lives as follows: |
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Computer equipment - 3 years |
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Deferred taxation |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment |
of certain items for account purposes and their treatment for tax purposes. |
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Tax deferred or accelerated is accounted for in respect of all material timing differences. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position 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. |
IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Notes to the Financial Statements - continued |
for the Period 1st December 2015 to 31st January 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The directors are aware that the balance sheet reflects a net liability position at the year end and they have |
received assurances from the company's shareholders and investors that they will continue to provide financial |
support to the company for the foreseeable future to enable it to meet its obligations if and when they become |
due. Agreements have been entered into to subordinate the loans made between associated companies and these |
subordination agreements will remain in force for as long as the liabilities exceed the assets of the company, |
fairly valued. It is on this basis that the directors consider it appropriate to prepare the financial statements on |
the going concern basis. The financial statements do not include any adjustments that would result in the |
withdrawal of the support of the shareholders and investors. |
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3. | OPERATING (LOSS)/PROFIT |
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The operating loss (2015 - operating profit) is stated after charging/(crediting): |
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Period |
1/12/15 |
to | Year Ended |
31/1/17 | 30/11/15 |
£ | £ |
Other operating leases |
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Depreciation - owned assets |
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Foreign exchange differences |
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( |
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Directors' remuneration and other benefits etc |
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4. | TAXATION |
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Analysis of the tax credit |
The tax credit on the loss on ordinary activities for the period was as follows: |
Period |
1/12/15 |
to | Year Ended |
31/1/17 | 30/11/15 |
£ | £ |
Deferred tax | ( |
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Tax on (loss)/profit on ordinary activities | ( |
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IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Notes to the Financial Statements - continued |
for the Period 1st December 2015 to 31st January 2017 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st December 2015 |
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Additions |
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At 31st January 2017 |
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DEPRECIATION |
At 1st December 2015 |
and 31st January 2017 |
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NET BOOK VALUE |
At 31st January 2017 |
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At 30th November 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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Deferred tax asset |
2017 | 2015 |
£ | £ |
Accelerated capital allowances | ( |
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Tax losses carried forward |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2015 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2015 |
value: | £ | £ |
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A ordinary voting shares | 0.05 | 500 | 500 |
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B ordinary non-voting | 0.05 | 500 | 500 |
1,000 | 1,000 |
IMPACTCHOICE LIMITED (REGISTERED NUMBER: 06943162) |
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Notes to the Financial Statements - continued |
for the Period 1st December 2015 to 31st January 2017 |
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8. | CALLED UP SHARE CAPITAL - continued |
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The share capital of the Company is £1,000 divided into 10,000 "A" ordinary voting shares and 10,000 "B" |
ordinary non-voting shares of £0.05 each save that the "A" ordinary voting shares shall have no right to |
participate in the profits and assets of the Company nor rights to receive dividends. |
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The "B" ordinary non-voting shares shall on a winding up or other repayment of capital entitle the holders to |
have the assets of the company available for distribution among the members applied, in priority to any other |
class of shares, in paying to them pari passu the capital paid on such shares. |
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The "B" ordinary non-voting shares shall not entitle the holders to receive notice of or attend or vote at any |
general meeting. |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1st December 2015 | ( |
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Deficit for the period | ( |
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At 31st January 2017 | ( |
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10. | ULTIMATE PARENT COMPANY |
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ImpactChoice Limited (Mauritius) (incorporated in Mauritius ) is regarded by the directors as being the |
company's ultimate parent company. |
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11. | RELATED PARTY DISCLOSURES |
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ImpactChoice Limited (Mauritius) |
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This loan has been subordinated. |
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2017 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 59,423 | 59,423 |
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12. | AVERAGE NUMBER OF EMPLOYEES |
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During the year the average number of employees was 1 (2015: 1). |