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REGISTERED NUMBER: 10238185 (England and Wales)









Financial Statements for the Year Ended 31st March 2022

for

Imara Circular Ventures Limited

Imara Circular Ventures Limited (Registered number: 10238185)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Imara Circular Ventures Limited

Company Information
for the Year Ended 31st March 2022







Directors: A Gupta
D J Ketteringham





Secretary: A Gupta





Registered office: 66 Prescot Street
London
E1 8NN





Registered number: 10238185 (England and Wales)






Imara Circular Ventures Limited (Registered number: 10238185)

Balance Sheet
31st March 2022

31/3/22 31/3/21
Notes £    £   
Current assets
Debtors 4 4,222,878 4,217,797
Cash at bank 38 13,145
4,222,916 4,230,942
Creditors
Amounts falling due within one year 5 (84,962 ) (66,765 )
Net current assets 4,137,954 4,164,177
Total assets less current liabilities 4,137,954 4,164,177

Creditors
Amounts falling due after more than one
year

6

(32,500

)

(41,667

)
Net assets 4,105,454 4,122,510

Capital and reserves
Called up share capital 7 4,000,000 4,000,000
Retained earnings 105,454 122,510
Shareholders' funds 4,105,454 4,122,510

The company is entitled to exemption from audit under Section 477 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 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.

Imara Circular Ventures Limited (Registered number: 10238185)

Balance Sheet - continued
31st March 2022


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 31st October 2023 and were signed on its behalf by:





A Gupta - Director


Imara Circular Ventures Limited (Registered number: 10238185)

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


1. STATUTORY INFORMATION

Imara Circular Ventures 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 has been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

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.

Imara Circular Ventures Limited (Registered number: 10238185)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through the profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where it is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.If there is a decease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit and loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loan from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.


Imara Circular Ventures Limited (Registered number: 10238185)

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


2. ACCOUNTING POLICIES - continued
Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Other debtors 4,222,878 4,217,797

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Bank loans and overdrafts 10,000 8,333
Taxation and social security 44,421 43,921
Other creditors 30,541 14,511
84,962 66,765

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/22 31/3/21
£    £   
Bank loans 32,500 41,667

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31/3/22 31/3/21
value: £    £   
300,000 Ordinary Shares 1 300,000 300,000
3,700,000 Ordinary A Shares 1 3,700,000 3,700,000
4,000,000 4,000,000