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REGISTERED NUMBER: 04104755 (England and Wales)








Unaudited Financial Statements

for the Period

1 October 2022 to 31 March 2024

for

IMVS Limited

IMVS Limited (Registered number: 04104755)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IMVS Limited

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTOR: D Williams





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 04104755 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

IMVS Limited (Registered number: 04104755)

Balance Sheet
31 March 2024

2024 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 228 55,875
Cash at bank and in hand 32,300 61,489
32,528 117,364
CREDITORS
Amounts falling due within one year 5 15,934 43,030
NET CURRENT ASSETS 16,594 74,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,594

74,334

CREDITORS
Amounts falling due after more than one
year

6

11,029

27,841
NET ASSETS 5,565 46,493

CAPITAL AND RESERVES
Called up share capital 370,540 370,540
Share premium 173,246 173,246
Capital redemption reserve 1,936,703 1,936,703
Retained earnings (2,474,924 ) (2,433,996 )
SHAREHOLDERS' FUNDS 5,565 46,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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 and authorised for issue by the director and authorised for issue on 21 August 2024 and were signed by:





D Williams - Director


IMVS Limited (Registered number: 04104755)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

IMVS 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.

The financial statements 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.

Goodwill
Positive goodwill arising on acquisitions is capitalised as an asset on the balance sheet and amortised on a straight line basis over its useful economic life up to a presumed maximum of 10 years. It is reviewed for impairment at the end of the first full year following the acquisition and in other periods if events or circumstances indicate the carrying value may not be recoverable.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10% on the straight line basis
Development costs - 14.3% on the straight line basis

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the period 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 period 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.

IMVS Limited (Registered number: 04104755)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Research and development
Research and development expenditure is written off as incurred, except for development expenditure incurred on individual projects which is carried forward when its future recoverability can reasonably be regarded as assured. The expenditure capitalised during the period is being amortised over 7 years, which reflects the expected life of the products being developed.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 7 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Other debtors 228 55,875

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 9,434 9,434
Other creditors 6,500 33,596
15,934 43,030

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 11,029 27,841