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REGISTERED NUMBER: 10779903 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

INMO WORKS LIMITED

INMO WORKS LIMITED (REGISTERED NUMBER: 10779903)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INMO WORKS LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: W G Miles
M R Sanders





REGISTERED OFFICE: 3 Southernhay West
Exeter
EX1 1JG





REGISTERED NUMBER: 10779903 (England and Wales)





ACCOUNTANTS: Gravita
3 Southernhay West
Exeter
Devon
EX1 1JG

INMO WORKS LIMITED (REGISTERED NUMBER: 10779903)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 59,322 118,641

CURRENT ASSETS
Debtors 6 27,816 26,265
Cash at bank 83 146
27,899 26,411
CREDITORS
Amounts falling due within one year 7 (237,687 ) (257,482 )
NET CURRENT LIABILITIES (209,788 ) (231,071 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(150,466

)

(112,430

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (150,566 ) (112,530 )
(150,466 ) (112,430 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 26 February 2025 and were signed on its behalf by:



W G Miles - Director


INMO WORKS LIMITED (REGISTERED NUMBER: 10779903)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024


1. COMPANY INFORMATION

Inmo Works 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 (£).

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

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
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" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Intangible assets
Developed computer software is being amortised evenly over their estimated economic life of five years from the point it is brought into use.

INMO WORKS LIMITED (REGISTERED NUMBER: 10779903)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 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.


Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.


Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Going concern
The company relies on the continued support of a related party. The related party has expressed it's willingness to continue his support of the company for the foreseeable future and therefore the directors believes that it is appropriate to prepare the financial statements on the going concern basis.

INMO WORKS LIMITED (REGISTERED NUMBER: 10779903)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 296,598
AMORTISATION
At 1 June 2023 177,957
Charge for year 59,319
At 31 May 2024 237,276
NET BOOK VALUE
At 31 May 2024 59,322
At 31 May 2023 118,641

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 310 80
Prepayments and accrued income 27,506 26,185
27,816 26,265

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 5,144 554
Other creditors 214,252 238,637
Directors' loan accounts 17,292 17,292
Accrued expenses 999 999
237,687 257,482

8. RELATED PARTY DISCLOSURES

A company in which M R Sanders and W G Miles are both directors and shareholders.

Included in 'other creditors' is an intercompany loan account and at the balance sheet date the amount owed to the company was £214,252 (2023: £238,637). No interest has been charged on this loan account.