Registered number
11545316
ITM GROUP AG LTD
Filleted Accounts
31 August 2023
ITM GROUP AG LTD
Registered number: 11545316
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 45,582 101,342
Cash at bank and in hand 170,429 88,145
216,011 189,487
Creditors: amounts falling due within one year 4 (173,709) (163,302)
Net current assets 42,302 26,185
Net assets 42,302 26,185
Capital and reserves
Called up share capital 100 100
Profit and loss account 42,202 26,085
Shareholders' funds 42,302 26,185
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Andriy Naumenko Mr Igor Krupov
Director Director
Approved by the board on 26 August 2024
ITM GROUP AG LTD
Notes to the Accounts
for the year ended 31 August 2023
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors 1,249 73,317
Prepaid Expenses 44,333 28,025
45,582 101,342
4 Creditors: amounts falling due within one year 2023 2022
£ £
Prepaid Income 41,534 40,459
Taxation and social security costs 3,350 3,452
Other creditors 128,825 119,391
173,709 163,302
5 Other information
ITM GROUP AG LTD is a private company limited by shares and incorporated in England. Its registered office is:
1st floor,
14 Bowling Green Lane
London
United Kingdom
EC1R 0BD
ITM GROUP AG LTD 11545316 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts April 2024 Mr Andriy Naumenko No description of principal activity 11545316 2021-09-01 2022-08-31 11545316 core:WithinOneYear 2022-08-31 11545316 core:ShareCapital 2022-08-31 11545316 core:RetainedEarningsAccumulatedLosses 2022-08-31 11545316 2022-09-01 2023-08-31 11545316 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11545316 bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11545316 bus:Director40 2022-09-01 2023-08-31 11545316 countries:England 2022-09-01 2023-08-31 11545316 bus:FRS102 2022-09-01 2023-08-31 11545316 bus:FilletedAccounts 2022-09-01 2023-08-31 11545316 2023-08-31 11545316 core:WithinOneYear 2023-08-31 11545316 core:ShareCapital 2023-08-31 11545316 core:RetainedEarningsAccumulatedLosses 2023-08-31 11545316 2022-08-31 iso4217:GBP xbrli:pure