Company registration number 13414862 (England and Wales)
IS MANAGEMENT LTD
FORMERLY KNOWN AS
PAWS 'N' CO LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
IS MANAGEMENT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
IS MANAGEMENT LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
6,150
6,150
Debtors
764
764
Cash at bank and in hand
612
612
7,526
7,526
Creditors: amounts falling due within one year
3
(10,683)
(10,683)
Net current liabilities
(3,157)
(3,157)
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(3,257)
(3,257)
Total equity
(3,157)
(3,157)

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 October 2024 and are signed on its behalf by:
Ms P  Jones
Director
Company registration number 13414862 (England and Wales)
IS MANAGEMENT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 June 2022
100
(3,257)
(3,157)
Period ended 31 May 2023:
Profit and total comprehensive income
-
-
0
-
0
Balance at 31 May 2023
100
(3,257)
(3,157)
Period ended 31 May 2024:
Profit and total comprehensive income
-
-
0
-
0
Balance at 31 May 2024
100
(3,257)
(3,157)
IS MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

IS Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.

1.1
Reporting period

The previous set of financial statements were the first since incorporation and covered a period of 53 weeks. The company has been dormant this year and is therefore not comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

IS MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
10,683
10,683
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
5
Directors' transactions

The directors operate a current loan amount with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn directors' fees. At the year end the amount outstanding to the directors was £10,183 (2023 - £10,183); this amount being included in creditors: amounts falling due within one year.

2024-05-312023-06-01true07 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMs P JonesMr M SmithfalsefalseThe company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.134148622023-06-012024-05-31134148622024-05-31134148622023-05-3113414862core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3113414862core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3113414862core:ShareCapital2024-05-3113414862core:ShareCapital2023-05-3113414862core:RetainedEarningsAccumulatedLosses2024-05-3113414862core:RetainedEarningsAccumulatedLosses2023-05-3113414862core:ShareCapital2022-05-3113414862core:RetainedEarningsAccumulatedLosses2022-05-3113414862bus:Director12023-06-012024-05-3113414862core:RetainedEarningsAccumulatedLosses2022-06-012023-05-31134148622022-06-012023-05-3113414862core:RetainedEarningsAccumulatedLosses2023-06-012024-05-3113414862core:CurrentFinancialInstruments2024-05-3113414862core:CurrentFinancialInstruments2023-05-3113414862bus:EntityNoLongerTradingButTradedInPast2023-06-012024-05-3113414862bus:PrivateLimitedCompanyLtd2023-06-012024-05-3113414862bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3113414862bus:FRS1022023-06-012024-05-3113414862bus:AuditExemptWithAccountantsReport2023-06-012024-05-3113414862bus:Director22023-06-012024-05-3113414862bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP