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REGISTERED NUMBER: 06917654 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

IMG Innovations Limited

IMG Innovations Limited (Registered number: 06917654)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

IMG Innovations Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: D J Hawley





REGISTERED OFFICE: 49 Heather Lea Avenue
Sheffield
S17 3DL





REGISTERED NUMBER: 06917654 (England and Wales)





ACCOUNTANTS: Heather Lea Business Services
49 Heather Lea Avenue
Sheffield
S17 3DL

IMG Innovations Limited (Registered number: 06917654)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,810 1,018

CURRENT ASSETS
Debtors 5 8,482 8,369
Cash at bank 2,448 158
10,930 8,527
CREDITORS
Amounts falling due within one year 6 3,744 (29 )
NET CURRENT ASSETS 7,186 8,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,996

9,574

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 9,896 9,474
SHAREHOLDERS' FUNDS 9,996 9,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





D J Hawley - Director


IMG Innovations Limited (Registered number: 06917654)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

IMG Innovations 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.

Turnover
Turnover represents invoiced sales for services.

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 - 33% on reducing balance, 20% on cost and 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

IMG Innovations Limited (Registered number: 06917654)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 - 988 9,454 10,442
Additions 2,500 - - 2,500
At 31 May 2023 2,500 988 9,454 12,942
DEPRECIATION
At 1 June 2022 - 274 9,150 9,424
Charge for year 500 107 101 708
At 31 May 2023 500 381 9,251 10,132
NET BOOK VALUE
At 31 May 2023 2,000 607 203 2,810
At 31 May 2022 - 714 304 1,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 8,482 8,369

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 554 (329 )
Other creditors 3,190 300
3,744 (29 )

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 June 2022 9,474
Profit for the year 5,422
Dividends (5,000 )
At 31 May 2023 9,896

IMG Innovations Limited (Registered number: 06917654)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
D J Hawley
Balance outstanding at start of year 8,092 8,430
Amounts advanced 635 138
Amounts repaid (551 ) (476 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,176 8,092

10. ULTIMATE CONTROLLING PARTY

The controlling party is D J Hawley.

The ultimate controlling party is D J Hawley.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
IMG Innovations Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IMG Innovations Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of IMG Innovations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IMG Innovations Limited and state those matters that we have agreed to state to the director of IMG Innovations Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IMG Innovations Limited and its director for our work or for this report.

It is your duty to ensure that IMG Innovations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IMG Innovations Limited. You consider that IMG Innovations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IMG Innovations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Heather Lea Business Services
49 Heather Lea Avenue
Sheffield
S17 3DL


9 February 2024