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REGISTERED NUMBER: 06725694 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

NIMG Limited

NIMG Limited (Registered number: 06725694)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NIMG Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: N M Griffin





SECRETARY: N M Griffin





REGISTERED OFFICE: Griffindor
Crossways South
Doncaster
South Yorkshire
DN2 5SJ





REGISTERED NUMBER: 06725694 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

NIMG Limited (Registered number: 06725694)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,846 5,458
4,846 5,458

CURRENT ASSETS
Stocks 6 5,207 3,799
Debtors 7 7,481 7,342
Cash at bank and in hand 158,490 127,531
171,178 138,672
CREDITORS
Amounts falling due within one year 8 69,191 46,666
NET CURRENT ASSETS 101,987 92,006
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,833

97,464

CREDITORS
Amounts falling due after more than one
year

9

70,909

80,641
NET ASSETS 35,924 16,823

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 35,824 16,723
SHAREHOLDERS' FUNDS 35,924 16,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

NIMG Limited (Registered number: 06725694)

Balance Sheet - continued
30 September 2023


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 by the director and authorised for issue on 1 August 2024 and were signed by:





N M Griffin - Director


NIMG Limited (Registered number: 06725694)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

NIMG 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was fully amortised evenly over its estimated useful life of 5 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the term of the lease
Improvements to property - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

NIMG Limited (Registered number: 06725694)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 20,000
AMORTISATION
At 1 October 2022
and 30 September 2023 20,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings Totals
£    £    £    £   
COST
At 1 October 2022 24,000 3,319 12,398 39,717
Additions - - 1,665 1,665
Disposals - - (1,651 ) (1,651 )
At 30 September 2023 24,000 3,319 12,412 39,731
DEPRECIATION
At 1 October 2022 22,997 1,971 9,291 34,259
Charge for year 1,002 202 821 2,025
Eliminated on disposal - - (1,399 ) (1,399 )
At 30 September 2023 23,999 2,173 8,713 34,885
NET BOOK VALUE
At 30 September 2023 1 1,146 3,699 4,846
At 30 September 2022 1,003 1,348 3,107 5,458

6. STOCKS
2023 2022
£    £   
Stocks 5,207 3,799

NIMG Limited (Registered number: 06725694)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,158 6,158
Prepayments 1,323 1,184
7,481 7,342

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,583 6,634
Tax 8,515 4,189
Social security and other taxes 3,897 3,746
Bank loan 10,648 10,648
Directors' current accounts 15,436 18,515
Accrued expenses 17,112 2,934
69,191 46,666

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 20,909 30,641
Directors' loan accounts 50,000 50,000
70,909 80,641

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 October 2022 16,723
Profit for the year 19,101
At 30 September 2023 35,824

NIMG Limited (Registered number: 06725694)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N M Griffin.