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REGISTERED NUMBER: 02999441 (England and Wales)














I.M.S. Management Services Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






I.M.S. Management Services Limited (Registered number: 02999441)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


I.M.S. Management Services Limited

Company Information
for the Year Ended 31 December 2023







Director: Mr B H Hager





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: C/o Hager and Hager
Hedwigstrasse 18
30159 Hannover





Registered number: 02999441 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
I.M.S. Management Services Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I.M.S. Management Services Limited for the year ended 31 December 2023 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of I.M.S. Management Services Limited in accordance with the terms of our engagement letter dated 28 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of I.M.S. Management Services Limited and state those matters that we have agreed to state to the director of I.M.S. Management Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I.M.S. Management Services Limited and its director for our work or for this report.

It is your duty to ensure that I.M.S. Management Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of I.M.S. Management Services Limited. You consider that I.M.S. Management Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of I.M.S. Management Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


18 February 2025

I.M.S. Management Services Limited (Registered number: 02999441)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 3,640 4,854
Investments 6 994 850
4,634 5,704

Current assets
Stocks 69,431 77,836
Debtors 7 2,036,890 1,868,958
Cash at bank 109,813 162,331
2,216,134 2,109,125
Creditors
Amounts falling due within one year 8 385,976 309,008
Net current assets 1,830,158 1,800,117
Total assets less current liabilities 1,834,792 1,805,821

Creditors
Amounts falling due after more than one
year

9

1,156,219

1,111,749
Net assets 678,573 694,072

Capital and reserves
Called up share capital 10 100 100
Fair value reserve 7,459 51,929
Retained earnings 671,014 642,043
Shareholders' funds 678,573 694,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

I.M.S. Management Services Limited (Registered number: 02999441)

Statement of Financial Position - continued
31 December 2023


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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 February 2025 and were signed by:





Mr B H Hager - Director


I.M.S. Management Services Limited (Registered number: 02999441)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

I.M.S. Management Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about I.M.S. Management Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost as adjusted for exchange rate movements at each statement of financial position date.

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 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 statement of financial position date.


I.M.S. Management Services Limited (Registered number: 02999441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Financial liabilities are initially recognised at fair value, unless repayment of the loan is deferred beyond normal commercial terms or the rate of interest charged on the loan is not a market rate, in which case the liability is measured at the present value of the future repayments discounted at a market rate of interest for a similar debt instrument.

4. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

I.M.S. Management Services Limited (Registered number: 02999441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 January 2023
and 31 December 2023 27,271
Depreciation
At 1 January 2023 22,417
Charge for year 1,214
At 31 December 2023 23,631
Net book value
At 31 December 2023 3,640
At 31 December 2022 4,854

6. Fixed asset investments
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
Cost or valuation
At 1 January 2023 - 850 850
Additions 97 - 97
Revaluations (2 ) 49 47
At 31 December 2023 95 899 994
Net book value
At 31 December 2023 95 899 994
At 31 December 2022 - 850 850

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Unlisted
undertakings investments Totals
£    £    £   
Valuation in 2019 - 211 211
Valuation in 2020 - (20 ) (20 )
Valuation in 2021 - (59 ) (59 )
Valuation in 2022 - 25 25
Valuation in 2023 (2 ) 49 47
Cost 97 693 790
95 899 994

The cost of investments in group undertakings represents 100% of the issued share capital of Secura Electronic A.G. which is incorporated in Luxembourg.

I.M.S. Management Services Limited (Registered number: 02999441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 16,803 13,321
Other debtors 2,003,887 1,822,434
Section 455 tax recoverable - 6,309
VAT 32 1,069
Deferred tax asset 16,168 25,825
2,036,890 1,868,958

Included in other debtors is £186,152 (2022: £1,310,229) receivable after more than one year.

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Other creditors 223,473 228,592
Net wages creditors 16 16
Directors' current accounts 149,850 73,051
Accrued expenses 12,637 7,349
385,976 309,008

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Amounts owed to participating interests - 1,111,749
Amounts owed to group
undertakings 1,156,219 -
1,156,219 1,111,749

Included within amounts owed to group undertakings (2022 - participating interest) is £1,156,219 (2022 £nil) which is due, other than by instalments, after more than five years.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

I.M.S. Management Services Limited (Registered number: 02999441)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr B H Hager
Balance outstanding at start of year (73,051 ) (36,989 )
Amounts advanced - 42,374
Amounts repaid (76,799 ) (78,436 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (149,850 ) (73,051 )

12. Related party disclosures

Included within creditors: amounts falling due after one year is an amount of £1,156,219 (2022: £1,111,749) in respect of a liability previously due for repayment on 28 February 2024 which has been rolled over on 1 March 2024 for a further seven years and is unsecured and non-interest bearing. The loan has been discounted at a commercial rate of interest. The undiscounted loan amount due to be repaid on 28 February 2024 amounted to £1,163,678 (2022: £1,163,678).