2021-04-012022-03-312022-03-31false06038154IMPERIAL MIDLANDS 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IMPERIAL MIDLANDS LIMITED

Registered Number
06038154
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

IMPERIAL MIDLANDS LIMITED
Company Information
for the year from 1 April 2021 to 31 March 2022

Directors

M R Bhojani
N N Ebrahim

Registered Address

Flat 12 High Street
Desborough
Kettering
NN14 2QS

Registered Number

06038154 (England and Wales)
IMPERIAL MIDLANDS LIMITED
Balance Sheet as at
31 March 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets747,37855,963
47,37855,963
Current assets
Debtors1021,3866,086
Cash at bank and on hand125,508104,830
146,894110,916
Creditors amounts falling due within one year11(83,226)(81,580)
Net current assets (liabilities)63,66829,336
Total assets less current liabilities111,04685,299
Creditors amounts falling due after one year(13,543)(48,000)
Net assets97,50337,299
Capital and reserves
Profit and loss account97,50337,299
Shareholders' funds97,50337,299
The financial statements were approved and authorised for issue by the Board of Directors on 19 August 2022, and are signed on its behalf by:
M R Bhojani
Director
N N Ebrahim
Director

Registered Company No. 06038154
IMPERIAL MIDLANDS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings20
Fixtures and fittings10
Office Equipment25
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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 policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year1920
6.Intangible assets

Total

£
Cost or valuation
At 01 April 21280,000
At 31 March 22280,000
Amortisation and impairment
At 01 April 21280,000
At 31 March 22280,000
Net book value
At 31 March 22-
At 31 March 21-
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 21240,486
At 31 March 22240,486
Depreciation and impairment
At 01 April 21184,523
Charge for year8,585
At 31 March 22193,108
Net book value
At 31 March 2247,378
At 31 March 2155,963
8.Guarantees and their terms, directors
At the balance sheet date balance related to director Bhojani Mr M R is £6,857 Credit (2021: £24,000 Credit). At the balance sheet date balance related to director Ebrahim Mr N N is £6,686 Credit (2021: £24,000 Credit).
9.Dividends proposed and payable

2022

2021

££
Dividends Paid60,00048,000
Total60,00048,000
10.Debtors

2022

2021

££
Trade debtors / trade receivables17,2782,869
Other debtors4,0701,659
Prepayments and accrued income381,558
Total21,3866,086
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2022

2021

££
Trade creditors / trade payables4,408338
Bank borrowings and overdrafts1,12514,545
Taxation and social security7,6645,086
Other creditors65,52956,211
Accrued liabilities and deferred income4,5005,400
Total83,22681,580
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.