IMAC GROUP LTD

Company Registration Number:
NI630321 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

IMAC GROUP LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

IMAC GROUP LTD

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 30 November 2023

John Farren
Elaine Farren


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 September 2024

And signed on behalf of the board by:
Name: John Farren
Status: Director

IMAC GROUP LTD

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 8,630,273 7,225,003
Cost of sales: ( 6,066,638 ) ( 5,547,792 )
Gross profit(or loss): 2,563,635 1,677,211
Distribution costs: ( 20,616 ) ( 25,346 )
Administrative expenses: ( 1,388,178 ) ( 1,237,656 )
Operating profit(or loss): 1,154,841 414,209
Interest receivable and similar income: 1,928 2,766
Interest payable and similar charges: ( 94,862 ) ( 37,002 )
Profit(or loss) before tax: 1,061,907 379,973
Tax: ( 218,520 ) ( 67,793 )
Profit(or loss) for the financial year: 843,387 312,180

IMAC GROUP LTD

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 299,838 320,401
Total fixed assets: 299,838 320,401
Current assets
Stocks: 4 735,145 595,619
Debtors: 5 1,041,770 1,055,000
Cash at bank and in hand: 921,028 167,505
Total current assets: 2,697,943 1,818,124
Creditors: amounts falling due within one year: 6 ( 1,512,120 ) ( 1,324,968 )
Net current assets (liabilities): 1,185,823 493,156
Total assets less current liabilities: 1,485,661 813,557
Creditors: amounts falling due after more than one year: 7 0 ( 5,003 )
Provision for liabilities: ( 7,170 ) ( 7,450 )
Total net assets (liabilities): 1,478,491 801,104
Capital and reserves
Called up share capital: 400 400
Profit and loss account: 1,478,091 800,704
Total Shareholders' funds: 1,478,491 801,104

The notes form part of these financial statements

IMAC GROUP LTD

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 18 September 2024
and signed on behalf of the board by:

Name: John Farren
Status: Director

The notes form part of these financial statements

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant and machinery etc - 25% on reducing balance rate, 20% on cost and 15% on cost

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 59 87

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 278,753 398,373 677,126
Additions
Disposals
Revaluations
Transfers
At 30 November 2023 278,753 398,373 677,126
Depreciation
At 1 December 2022 24,914 331,811 356,725
Charge for year 2,727 17,836 20,563
On disposals
Other adjustments
At 30 November 2023 27,641 349,647 377,288
Net book value
At 30 November 2023 251,112 48,726 299,838
At 30 November 2022 253,839 66,562 320,401

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Stocks

2023 2022
£ £
Stocks 735,145 595,619
Total 735,145 595,619

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Debtors

2023 2022
£ £
Trade debtors 541,078 591,416
Other debtors 500,692 463,584
Total 1,041,770 1,055,000

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 26,813 36,323
Amounts due under finance leases and hire purchase contracts 6,037 12,225
Trade creditors 877,489 813,321
Taxation and social security 491,160 312,449
Other creditors 110,621 150,650
Total 1,512,120 1,324,968

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 0 5,003
Total 0 5,003

IMAC GROUP LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

8. Loans to directors

Name of director receiving advance or credit: John Farren
Description of the transaction:
The following advances and credits to a director subsided during the year ended 30 November 2023:
£
Balance at 30 November 2022 86,978
Advances or credits made:
Advances or credits repaid: 867
Balance at 30 November 2023 86,111