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REGISTERED NUMBER: 02498144 (England and Wales)


















Unaudited Financial Statements for the Year Ended 30 April 2024

for

IMA Cooling Limited

IMA Cooling Limited (Registered number: 02498144)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


IMA Cooling Limited (Registered number: 02498144)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 37,645 29,217

CURRENT ASSETS
Stocks 24,653 38,582
Debtors 5 424,338 615,912
Cash at bank and in hand 312,555 264,724
761,546 919,218
CREDITORS
Amounts falling due within one year 6 (536,630 ) (652,059 )
NET CURRENT ASSETS 224,916 267,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,561

296,376

CREDITORS
Amounts falling due after more than one
year

7

(10,686

)

(21,984

)

PROVISIONS FOR LIABILITIES (8,471 ) (7,304 )
NET ASSETS 243,404 267,088

CAPITAL AND RESERVES
Called up share capital 100 52
Capital redemption reserve 48 48
Retained earnings 243,256 266,988
243,404 267,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

IMA Cooling Limited (Registered number: 02498144)

Balance Sheet - continued
30 April 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr I A Nash - Director


IMA Cooling Limited (Registered number: 02498144)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

IMA Cooling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02498144

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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 Profit and Loss Account, 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.

IMA Cooling Limited (Registered number: 02498144)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 3,000 86,198 767 89,965
Additions - 34,499 - 34,499
Disposals - (31,817 ) - (31,817 )
At 30 April 2024 3,000 88,880 767 92,647
DEPRECIATION
At 1 May 2023 2,831 57,582 335 60,748
Charge for year 42 12,398 108 12,548
Eliminated on disposal - (18,294 ) - (18,294 )
At 30 April 2024 2,873 51,686 443 55,002
NET BOOK VALUE
At 30 April 2024 127 37,194 324 37,645
At 30 April 2023 169 28,616 432 29,217

IMA Cooling Limited (Registered number: 02498144)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 31,390
DEPRECIATION
At 1 May 2023 21,458
Charge for year 2,483
At 30 April 2024 23,941
NET BOOK VALUE
At 30 April 2024 7,449
At 30 April 2023 9,932

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 400,422 541,225
Other debtors 1,914 2,324
Prepayments and accrued income 22,002 72,363
424,338 615,912

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,148 10,207
Hire purchase contracts 1,357 6,117
Trade creditors 398,367 509,732
Tax 16,181 40,546
PAYE 13,783 954
VAT 30,669 37,413
Other creditors 2,926 4,978
Directors' loan accounts 30,702 25,168
Accruals and deferred income 32,497 16,944
536,630 652,059

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,789 10,465
Bank loans - 2-5 years 897 10,162
Hire purchase contracts - 1,357
10,686 21,984

IMA Cooling Limited (Registered number: 02498144)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire Purchase 1,357 7,474

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2024 and the year ended 30 April 2023:



2024 2023
£ £
Director :

Amounts Advanced 72,241 78,585
Amounts Repaid (83,824) (88,516)

Director :

Amounts Advanced 6,000 -
Amounts Repaid (-) (6,000)


The loan to the director is repayable on demand. Interest is charged on loans at the official interest set by HMRC.