Company registration number 13228680 (England and Wales)
IMAP Group Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 November 2023
PAGES FOR FILING WITH REGISTRAR
IMAP Group Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
IMAP Group Limited
Statement Of Financial Position
as at 30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
476,606
243,468
Current assets
Cash at bank and in hand
9,416
75,883
Creditors: amounts falling due within one year
4
(157,540)
(152,612)
Net current liabilities
(148,124)
(76,729)
Total assets less current liabilities
328,482
166,739
Creditors: amounts falling due after more than one year
5
(311,174)
(165,430)
Net assets
17,308
1,309
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
17,307
1,308
Total equity
17,308
1,309

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 15 August 2024
J Butterworth
Director
Company registration number 13228680 (England and Wales)
IMAP Group Limited
Notes to the Financial Statements
for the year ended 30 November 2023
- 2 -
1
Accounting policies
Accounting convention

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 have 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.

Turnover

Turnover is recognised at the fair value of rental income received or receivable. Rental income is recognised on a receipts basis.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 December 2022
243,468
Additions
233,138
At 30 November 2023
476,606
Investment property comprises residential properties at their cost price. The director believes the cost
reflects their fair value.
IMAP Group Limited
Notes to the Financial Statements (continued)
for the year ended 30 November 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
35,440
34,000
Corporation tax
958
404
Other creditors
119,347
115,693
Accruals and deferred income
1,795
2,515
157,540
152,612

 

5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
311,174
165,430

The bank loans are secured.

6
Company information

IMAP Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit G Wheatley Park, Woodbottom, Mirfield, West Yorkshire, WF14 8HE.

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