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REGISTERED NUMBER: 11143217 (England and Wales)











IMSM PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






IMSM PROPERTIES LIMITED (REGISTERED NUMBER: 11143217)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


IMSM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Ms A N Iqbal
Ms I Zaffar





REGISTERED OFFICE: 9 Ennismore Gardens
Thames Ditton
Surrey
KT7 0YS





REGISTERED NUMBER: 11143217 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW

IMSM PROPERTIES LIMITED (REGISTERED NUMBER: 11143217)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,275,000 1,210,000

CURRENT ASSETS
Debtors 11,672 -
Cash at bank 83,879 47,712
95,551 47,712
CREDITORS
Amounts falling due within one year 776,615 763,563
NET CURRENT LIABILITIES (681,064 ) (715,851 )
TOTAL ASSETS LESS CURRENT LIABILITIES 593,936 494,149

CREDITORS
Amounts falling due after more than one
year

5

(196,914

)

(203,790

)

PROVISIONS FOR LIABILITIES (65,879 ) (49,629 )
NET ASSETS 331,143 240,730

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 197,635 148,885
Retained earnings 133,408 91,745
331,143 240,730

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IMSM PROPERTIES LIMITED (REGISTERED NUMBER: 11143217)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Ms I Zaffar - Director


IMSM PROPERTIES LIMITED (REGISTERED NUMBER: 11143217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

IMSM Properties 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 as modified by the revaluation of certain assets.

These are the first financial statements prepared under FRS102 Section 1A, with the company previously reporting under the micro-entity provisions set out in FRS105. Following the transition to FRS102 Section 1A, transitional adjustments have been reflected in the company's financial statements.

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

Investment property
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Gains and losses arising from changes in fair value of investment properties are included in the profit and loss account and non-distributable reserves in the period in which they arise.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

IMSM PROPERTIES LIMITED (REGISTERED NUMBER: 11143217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,210,000
Revaluations 65,000
At 31 January 2024 1,275,000
NET BOOK VALUE
At 31 January 2024 1,275,000
At 31 January 2023 1,210,000

Investment properties were revalued by the directors on 31 January 2024, and that revaluation is reflected in these accounts. The revaluation was based on a comparison of similar property in a similar location and condition.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
as restated
£    £   
Repayable by instalments
Bank loans in more than 5 years 162,535 169,412

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 203,790 208,536

Bank loans are secured on the property to which they relate.

7. RESERVES

The revaluation reserve consists of gains arising from changes in the fair value of investment property less deferred tax provided on those gains.