Imatch Property Limited 12978049 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the operating of investment and rental properties Digita Accounts Production Advanced 6.30.9574.0 true true 12978049 2023-10-01 2024-09-30 12978049 2024-09-30 12978049 bus:OrdinaryShareClass1 2024-09-30 12978049 core:CurrentFinancialInstruments 2024-09-30 12978049 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 12978049 core:FurnitureFittings 2024-09-30 12978049 core:MotorVehicles 2024-09-30 12978049 bus:SmallEntities 2023-10-01 2024-09-30 12978049 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12978049 bus:FilletedAccounts 2023-10-01 2024-09-30 12978049 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12978049 bus:RegisteredOffice 2023-10-01 2024-09-30 12978049 bus:Director1 2023-10-01 2024-09-30 12978049 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 12978049 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12978049 core:FurnitureFittings 2023-10-01 2024-09-30 12978049 core:MotorVehicles 2023-10-01 2024-09-30 12978049 countries:AllCountries 2023-10-01 2024-09-30 12978049 2023-09-30 12978049 core:FurnitureFittings 2023-09-30 12978049 core:MotorVehicles 2023-09-30 12978049 2022-10-01 2023-09-30 12978049 2023-09-30 12978049 bus:OrdinaryShareClass1 2023-09-30 12978049 core:CurrentFinancialInstruments 2023-09-30 12978049 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 12978049 core:FurnitureFittings 2023-09-30 12978049 core:MotorVehicles 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12978049

Imatch Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Imatch Property Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Imatch Property Limited

(Registration number: 12978049)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,088

38,385

Investment property

5

438,643

437,110

 

459,731

475,495

Current assets

 

Debtors

6

861

-

Cash at bank and in hand

 

19,886

6,492

 

20,747

6,492

Creditors: Amounts falling due within one year

7

(526,008)

(511,955)

Net current liabilities

 

(505,261)

(505,463)

Net liabilities

 

(45,530)

(29,968)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(45,630)

(30,068)

Shareholders' deficit

 

(45,530)

(29,968)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

.........................................
M P Deakin
Director

 

Imatch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
81a High Street
Teddington
TW11 8HG
England

These financial statements were authorised for issue by the Board on 10 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Imatch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually, using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Imatch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Imatch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

41,963

11,223

53,186

Additions

922

-

922

Disposals

-

(11,223)

(11,223)

At 30 September 2024

42,885

-

42,885

Depreciation

At 1 October 2023

11,293

3,508

14,801

Charge for the year

10,504

1,929

12,433

Eliminated on disposal

-

(5,437)

(5,437)

At 30 September 2024

21,797

-

21,797

Carrying amount

At 30 September 2024

21,088

-

21,088

At 30 September 2023

30,670

7,715

38,385

5

Investment properties

2024
£

At 1 October

437,110

Additions

1,533

At 30 September

438,643

The directors undertook a review of the valuation of the investment property held by the company resulting in an assessment that the cost value of £438,643 reflected the fair value of the property as at 30 September 2024. This valuation is a directors' estimate based on their knowledge of property values in the location.

6

Debtors

Current

2024
£

2023
£

Prepayments

419

-

Other debtors

442

-

 

861

-

 

Imatch Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

900

900

Other creditors

525,108

511,055

526,008

511,955

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Other transactions with directors

At the balance sheet date the directors owed the company a balance of £442. The balance was repaid, in full, following the year end.