IRIS Accounts Production v22.2.0.402 SC585519 director 1.4.21 31.3.22 31.3.22 No description of principal activity 0 false true false false true true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5855192021-03-31SC5855192022-03-31SC5855192021-04-012022-03-31SC5855192020-03-31SC5855192020-04-012021-03-31SC5855192021-03-31SC585519ns16:Scotland2021-04-012022-03-31SC585519ns15:PoundSterling2021-04-012022-03-31SC585519ns11:Director12021-04-012022-03-31SC585519ns11:PrivateLimitedCompanyLtd2021-04-012022-03-31SC585519ns11:SmallEntities2021-04-012022-03-31SC585519ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-31SC585519ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-31SC585519ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-31SC585519ns11:AbbreviatedAccounts2021-04-012022-03-31SC585519ns11:RegisteredOffice2021-04-012022-03-31SC585519ns6:CurrentFinancialInstruments2022-03-31SC585519ns6:CurrentFinancialInstruments2021-03-31SC585519ns6:ShareCapital2022-03-31SC585519ns6:ShareCapital2021-03-31SC585519ns6:RetainedEarningsAccumulatedLosses2022-03-31SC585519ns6:RetainedEarningsAccumulatedLosses2021-03-31SC585519ns6:PlantMachinery2021-04-012022-03-31SC585519ns6:PlantMachinery2021-03-31SC585519ns6:PlantMachinery2022-03-31SC585519ns6:PlantMachinery2021-03-31SC585519ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31SC585519ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-31
REGISTERED NUMBER: SC585519 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2022

for

IAM Commercial Management Ltd

IAM Commercial Management Ltd (Registered number: SC585519)






Contents of the Financial Statements
for the Year Ended 31st March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


IAM Commercial Management Ltd

Company Information
for the Year Ended 31st March 2022







DIRECTOR: A M Dykes





REGISTERED OFFICE: Old Crawfordton
Moniaive
Thornhill
DG3 4EB





REGISTERED NUMBER: SC585519 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

IAM Commercial Management Ltd (Registered number: SC585519)

Balance Sheet
31st March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 190 190

CURRENT ASSETS
Debtors 5 - 18,300
Cash at bank 63,223 70,738
63,223 89,038
CREDITORS
Amounts falling due within one year 6 (24,033 ) (49,848 )
NET CURRENT ASSETS 39,190 39,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,380

39,380

PROVISIONS FOR LIABILITIES (36 ) (36 )
NET ASSETS 39,344 39,344

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 39,343 39,343
39,344 39,344

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7th September 2022 and were signed by:





A M Dykes - Director


IAM Commercial Management Ltd (Registered number: SC585519)

Notes to the Financial Statements
for the Year Ended 31st March 2022

1. STATUTORY INFORMATION

IAM Commercial Management Ltd is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales from the provision quantity surveying, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 1 ).

IAM Commercial Management Ltd (Registered number: SC585519)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2021
and 31st March 2022 300
DEPRECIATION
At 1st April 2021
and 31st March 2022 110
NET BOOK VALUE
At 31st March 2022 190
At 31st March 2021 190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 18,300

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security - 25,815
Other creditors 24,033 24,033
24,033 49,848

7. RELATED PARTY DISCLOSURES

As at 31st March 2022, the company owed funds of £533 (2021: £533) to the director by way of a director's current account. This sum is interest free and repayable on demand.