Registered number
12614923
Integrated Maintenance Services Group Limited
Filleted Accounts
31 May 2024
Integrated Maintenance Services Group Limited
Registered number: 12614923
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 91,756 91,105
Current assets
Stocks 800 800
Work in progress 20,694 32,670
Corporation tax - 5,449
Debtors 4 74,497 78,230
Cash at bank and in hand 99,583 39,371
195,574 156,520
Creditors: amounts falling due within one year 5 (97,455) (80,204)
Net current assets 98,119 76,316
Total assets less current liabilities 189,875 167,421
Creditors: amounts falling due after more than one year 6 (1,104) (7,731)
Provisions for liabilities (20,217) (17,310)
Net assets 168,554 142,380
Capital and reserves
Called up share capital 1 1
Profit and loss account 168,553 142,379
Shareholder's funds 168,554 142,380
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JM Stokoe
Director
Approved by the board on 19 August 2024
Integrated Maintenance Services Group Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 19,547 88,780 108,327
Additions 28,262 2,550 30,812
Disposals (4,382) - (4,382)
At 31 May 2024 43,427 91,330 134,757
Depreciation
At 1 June 2023 3,674 13,548 17,222
Charge for the year 8,257 19,326 27,583
On disposals (1,804) - (1,804)
At 31 May 2024 10,127 32,874 43,001
Net book value
At 31 May 2024 33,300 58,456 91,756
At 31 May 2023 15,873 75,232 91,105
4 Debtors 2024 2023
£ £
Trade debtors 54,190 55,581
Other debtors 20,307 22,649
74,497 78,230
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 6,627 6,627
Trade creditors 30,886 31,129
Taxation and social security costs 18,498 -
Other creditors 41,444 42,448
97,455 80,204
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 1,104 7,731
7 Other information
Integrated Maintenance Services Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Edgewell Grange
Prudhoe
Northumberland
NE42 6RH
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