Registered number
09534805
IMO Detail & Design Limited
Unaudited Filleted Accounts
30 April 2024
IMO Detail & Design Limited
Registered number: 09534805
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 383 320
Current assets
Debtors 4 30,433 33,724
Cash at bank and in hand 7,440 3,113
37,873 36,837
Creditors: amounts falling due within one year 5 (21,811) (18,383)
Net current assets 16,062 18,454
Total assets less current liabilities 16,445 18,774
Creditors: amounts falling due after more than one year 6 (10,099) (15,008)
Net assets 6,346 3,766
Capital and reserves
Called up share capital 300 300
Profit and loss account 6,046 3,466
Shareholders' funds 6,346 3,766
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 Ian Osmond
Director
Approved by the board on 2 September 2024
IMO Detail & Design Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 2,382
Additions 191
At 30 April 2024 2,573
Depreciation
At 1 May 2023 2,062
Charge for the year 128
At 30 April 2024 2,190
Net book value
At 30 April 2024 383
At 30 April 2023 320
4 Debtors 2024 2023
£ £
Trade debtors 15,884 12,600
Overdrawn loan account 8,506 15,297
S455 Tax 3,946 3,946
Other debtors 2,097 1,881
30,433 33,724
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,050 4,050
Trade creditors 387 147
Taxation and social security costs 16,445 13,303
Other creditors 929 883
21,811 18,383
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,099 15,008
7 Related party transactions
None noted.
8 Transactions with Directors
During the year, Director Ian Osmond used a current account with the company to record amounts due to her and amounts drawn by her. As at the 30th April 2024 the account showed an amount overdrawn and owed back to IMO Detail and Design Limited of £4,252.81 (2023: £7,648.58). A total of £1,500.00 was repaid on 8th August 2024 via a dividend declaration.

During the year, Director Hannah Osmond used a current account with the company to record amounts due to her and amounts drawn by her. As at the 30th April 2024 the account showed an amount overdrawn and owed back to IMO Detail and Design Limited of £4,252.82 (2023: £7,648.58). A total of £1,500.00 was repaid on 8th August 2024 via a dividend declaration.
9 Controlling party
Mr Ian Osmond owns 50% of the share capital of the company and Mrs Hannah Osmond owns 50% of the share capital of the company. Therefore, they are jointly the company's ultimate controlling party.
10 Other information
IMO Detail & Design Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Pen-Croeslan Uchaf
Ffawyddog
Crickhowell
Powys
NP8 1BY
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