1 January 2023 false No description of principal activity Taxfiler 2024.5 12390430business:PrivateLimitedCompanyLtd2023-01-012023-12-31 123904302022-12-31 123904302023-01-012023-12-31 12390430business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 12390430business:FilletedAccounts2023-01-012023-12-31 123904302023-12-31 12390430business:Director12023-01-012023-12-31 12390430business:RegisteredOffice2023-01-012023-12-31 123904302022-12-31 12390430core:WithinOneYear2023-12-31 12390430core:WithinOneYear2022-12-31 12390430core:AfterOneYear2023-12-31 12390430core:AfterOneYear2022-12-31 12390430core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 12390430core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 12390430core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 12390430core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 12390430core:PreviouslyStatedAmount2023-12-31 12390430core:PreviouslyStatedAmount2022-12-31 12390430business:SmallEntities2023-01-012023-12-31 12390430countries:EnglandWales2023-01-012023-12-31 12390430business:OrdinaryShareClass12023-01-012023-12-31 12390430business:OrdinaryShareClass12022-01-012022-12-31 123904302022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 12390430 (England and Wales)
IMA CTS Limited Unaudited accounts for the year ended 31 December 2023
IMA CTS Limited Unaudited accounts Contents
Page
- 2 -
IMA CTS Limited Company Information for the year ended 31 December 2023
Director
Ishil Mehta
Company Number
12390430 (England and Wales)
Registered Office
UNIT 28 SALISBURY ROAD UXBRIDGE UB8 2RZ ENGLAND
- 3 -
IMA CTS Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
322,780 
221,358 
Cash at bank and in hand
1,319 
17,540 
324,099 
238,898 
Creditors: amounts falling due within one year
(8,790)
(10,325)
Net current assets
315,309 
228,573 
Total assets less current liabilities
315,309 
228,573 
Creditors: amounts falling due after more than one year
(38,220)
(44,177)
Net assets
277,089 
184,396 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
276,989 
184,296 
Shareholders' funds
277,089 
184,396 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 August 2024 and were signed on its behalf by
Ishil Mehta Director Company Registration No. 12390430
- 4 -
IMA CTS Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
IMA CTS Limited is a private company, limited by shares, registered in England and Wales, registration number 12390430. The registered office is UNIT 28, SALISBURY ROAD, UXBRIDGE, UB8 2RZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to expenditure are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,771 
3,859 
Amounts due from group undertakings etc.
307,009 
217,499 
322,780 
221,358 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
6,390 
7,925 
Accruals
2,400 
2,400 
8,790 
10,325 
- 5 -
IMA CTS Limited Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
38,220 
44,177 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares issued on incorporation of £1 each
100 
100 
8
Transactions with related parties
During the period the Company has traded with its fellow subsidiaries providing warehousing and production space and property management services and has incurred property rental costs. All such transactions have been concluded under normal market conditions. The company has made and received loan advances to fellow group companies. Such loans are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
9
Controlling party
The immediate parent undertaking is IMA Industries Limited whose registered office is Unit 28 Salisbury Road, Uxbridge, England, UB8 2RZ. The ultimate parent undertaking is IMA Holdings Limited of Unit 28 Salisbury Road, Uxbridge, England, UB8 2RZ. The ultimate controlling party is Mr I Mehta.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 6 -