Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08639460 2022-04-01 2023-03-31 08639460 2021-04-01 2022-03-31 08639460 2023-03-31 08639460 2022-03-31 08639460 c:Director1 2022-04-01 2023-03-31 08639460 c:Director3 2022-04-01 2023-03-31 08639460 c:RegisteredOffice 2022-04-01 2023-03-31 08639460 d:FreeholdInvestmentProperty 2023-03-31 08639460 d:FreeholdInvestmentProperty 2022-03-31 08639460 d:CurrentFinancialInstruments 2023-03-31 08639460 d:CurrentFinancialInstruments 2022-03-31 08639460 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08639460 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08639460 d:ShareCapital 2023-03-31 08639460 d:ShareCapital 2022-03-31 08639460 d:RevaluationReserve 2022-04-01 2023-03-31 08639460 d:RetainedEarningsAccumulatedLosses 2023-03-31 08639460 d:RetainedEarningsAccumulatedLosses 2022-03-31 08639460 c:FRS102 2022-04-01 2023-03-31 08639460 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08639460 c:FullAccounts 2022-04-01 2023-03-31 08639460 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 08639460







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023


I.M.M.G PROPERTIES LIMITED






































                        

 


I.M.M.G PROPERTIES LIMITED
 


 
COMPANY INFORMATION


Directors
M M Peake 
G M Cannon 




Registered number
08639460



Registered office
86 Warwick Road

London

W5 5PT




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


I.M.M.G PROPERTIES LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5


 


I.M.M.G PROPERTIES LIMITED
REGISTERED NUMBER:08639460



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
702,950
702,950

  
702,950
702,950

Current assets
  

Debtors: amounts falling due within one year
 5 
1,261
2,418

Cash at bank and in hand
  
32,052
27,894

  
33,313
30,312

Creditors: amounts falling due within one year
 6 
(452,903)
(452,750)

Net current liabilities
  
 
 
(419,590)
 
 
(422,438)

Provisions for liabilities
  

Deferred tax
  
(32,391)
(24,617)

  
 
 
(32,391)
 
 
(24,617)

Net assets
  
250,969
255,895


Capital and reserves
  

Allotted, called up and fully paid share capital
  
5,000
5,000

Profit and loss account
 7 
245,969
250,895

  
250,969
255,895


Page 1

 


I.M.M.G PROPERTIES LIMITED
REGISTERED NUMBER:08639460


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G M Cannon
Director

Date: 3 October 2023

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


I.M.M.G PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

I.M.M.G Properties Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As is shown by the statement of financial position, the company reports net current liabilities as at 31 March 2023 of £419,590 (2022: £422,438). This primarily results from the recognition of the directors' loans of £447,263 (2022: £446,639) as a current liability, as they are repayable on demand.
The company relies upon the continuing support of the directors who have expressed their willingness to provide such support for the foreseeable future to enable the company to continue operations.
Given the uncertainties that exist, the directors believe that the company has sufficient reserves to continue for the foreseeable future and it is therefore the directors’ opinion that the going concern basis of preparation continues to be appropriate.

 
2.3

Turnover

Revenue consists of rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 


I.M.M.G PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
702,950



At 31 March 2023
702,950

The deferred tax recognised in these accounts in relation to the revaluation of the properties amounts to £32,391 (2022 - £24,617).







5.


Debtors

2023
2022
£
£


Prepayments and accrued income
1,261
2,418

1,261
2,418


Page 4

 


I.M.M.G PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,942
3,207

Other creditors
447,263
446,639

Accruals and deferred income
3,698
2,904

452,903
452,750



7.


Reserves

Revaluation reserve

Included within the Profit and Loss Account is an undistributable amount of £143,574 (2022: £151,369) relating to the fair value movement of investment property in the year after taking into account taxation.


8.


Related party transactions

At 31 March 2023 the company owed the directors £447,263 (2022: £446,639). This represents interest free loans which are payable on demand.



 
Page 5