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Registered Number: 09661976
England and Wales

 

 

 

IMSGROUP EUROPE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Mr A Gale
Mr M J P Mahoney
Registered Number 09661976
Registered Office UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 16,910    6,330 
16,910    6,330 
Current assets      
Debtors 4 564,081    417,155 
Cash at bank and in hand (19,650)   (19,988)
544,431    397,167 
Creditors: amount falling due within one year 5 (595,776)   (817,789)
Net current assets (51,345)   (420,622)
 
Total assets less current liabilities (34,435)   (414,292)
Creditors: amount falling due after more than one year 6 (10,216)   (23,105)
Provisions for liabilities 7 (3,213)   (1,203)
Net assets (47,864)   (438,600)
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account (47,867)   (438,603)
Shareholders' funds (47,864)   (438,600)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 February 2025 and were signed on its behalf by:


-------------------------------
Mr A Gale
Director
2
General Information
IMSGroup Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 09661976, registration address UWM House, 6 Fusion Court, Leeds, West Yorkshire, LS25 2GH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 10%/20%/33% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2023 : 13).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 July 2023 95,587    95,587 
Additions 21,774    21,774 
Disposals  
At 30 June 2024 117,361    117,361 
Depreciation
At 01 July 2023 89,257    89,257 
Charge for year 11,194    11,194 
On disposals  
At 30 June 2024 100,451    100,451 
Net book values
Closing balance as at 30 June 2024 16,910    16,910 
Opening balance as at 01 July 2023 6,330    6,330 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 325,731    233,277 
Other Debtors 238,350    183,878 
564,081    417,155 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 59,469    86,776 
Bank Loans & Overdrafts 9,535    10,725 
Taxation and Social Security 53,693    137,795 
Other Creditors 473,079    582,493 
595,776    817,789 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 10,216    23,105 
10,216    23,105 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,213    1,203 
3,213    1,203 

3