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REGISTERED NUMBER: 04341231 (England and Wales)












IMS TECHNOLOGY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IMS TECHNOLOGY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Mr R K Boylett
Mr P J Arundale





SECRETARIES: Mr P J Arundale
Ms C Green





REGISTERED OFFICE: Unit 1, The Stables
Wassel Grove Lane
Stourbridge
West Midlands
DY9 9JH





REGISTERED NUMBER: 04341231 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,800 -
Tangible assets 5 434,822 445,923
Investments 6 913,735 913,735
1,429,357 1,359,658

CURRENT ASSETS
Debtors 7 84,919 506,955
Cash at bank and in hand 94,127 224,543
179,046 731,498
CREDITORS
Amounts falling due within one year 8 392,472 627,529
NET CURRENT (LIABILITIES)/ASSETS (213,426 ) 103,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,215,931

1,463,627

CREDITORS
Amounts falling due after more than one
year

9

268,623

388,443
NET ASSETS 947,308 1,075,184

CAPITAL AND RESERVES
Called up share capital 12 44 44
Retained earnings 947,264 1,075,140
SHAREHOLDERS' FUNDS 947,308 1,075,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:




Mr P J Arundale - Director



Mr R K Boylett - Director


IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

IMS Technology Services 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 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Preparation of consolidated financial statements
The financial statements contain information about IMS Technology Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Network equipment - 33% on cost, 20% on cost and 15% on cost
Office equipment - 33% on cost and 25% reducing balance
Computer equipment - 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment for diminution in value.

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 have been enacted or substantively enacted by the balance sheet date.


IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021 25,000
Additions 101,000
At 31 December 2021 126,000
AMORTISATION
At 1 January 2021 25,000
Charge for year 20,200
At 31 December 2021 45,200
NET BOOK VALUE
At 31 December 2021 80,800
At 31 December 2020 -

IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Network
property property equipment
£    £    £   
COST
At 1 January 2021 579,000 10,550 15,630
Additions - - -
At 31 December 2021 579,000 10,550 15,630
DEPRECIATION
At 1 January 2021 138,960 10,272 14,105
Charge for year 11,580 210 1,473
At 31 December 2021 150,540 10,482 15,578
NET BOOK VALUE
At 31 December 2021 428,460 68 52
At 31 December 2020 440,040 278 1,525

Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2021 4,549 4,472 614,201
Additions 936 3,540 4,476
At 31 December 2021 5,485 8,012 618,677
DEPRECIATION
At 1 January 2021 2,535 2,406 168,278
Charge for year 1,226 1,088 15,577
At 31 December 2021 3,761 3,494 183,855
NET BOOK VALUE
At 31 December 2021 1,724 4,518 434,822
At 31 December 2020 2,014 2,066 445,923

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 913,735
NET BOOK VALUE
At 31 December 2021 913,735
At 31 December 2020 913,735

IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 46,299 72,650
Other debtors 38,620 434,305
84,919 506,955

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 21,499 19,517
Trade creditors 88,843 102,778
Amounts owed to group undertakings - 145,906
Taxation and social security 265,191 237,427
Other creditors 16,939 121,901
392,472 627,529

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 268,623 288,443
Other creditors - 100,000
268,623 388,443

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 176,484 181,128

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 3,501 14,274
Between one and five years 5,252 -
8,753 14,274

11. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 290,122 307,960

The bank loans are secured by a fixed and floating charge over all property and assets, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery, both present and future.

IMS TECHNOLOGY SERVICES LIMITED (REGISTERED NUMBER: 04341231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
4 Ordinary £1 4 4
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
10 Ordinary E £1 10 10
44 44

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the directors received advances totalling £295,488 (2020: £242,612) and made repayments totalling £420,000 (2020: £138,000). At the year end the directors owed the company £35,135.16. These advances were provided at an interest rate of 2.5%.

14. RELATED PARTY DISCLOSURES

During the year the company has made advances totalling £nil (2020: £nil) and received repayments totalling £nil (2020: nil) with companies under common control and ownership. At the year end, the company was owed Nil (2020: £145,906) by these same companies. No trade transactions were entered into with these companies (2020:nil).

During the year the company has made repayments totalling £20,654 (2020: £264,184) and received advances totalling £nil (2020: £nil) with a company under common control and ownership.The balance of £125,252 has been written off. At the year end, the company owed £nil (2020: £nil) by these same companies. No trade transactions were entered into with this company (2020:nil).