4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 9,916 9,916 4,958 4,958 4,958 xbrli:pure xbrli:shares iso4217:GBP 10057528 2023-04-01 2024-09-30 10057528 2024-09-30 10057528 2023-03-31 10057528 2022-04-01 2023-03-31 10057528 2023-03-31 10057528 2022-03-31 10057528 core:FurnitureFittings 2023-04-01 2024-09-30 10057528 bus:Director1 2023-04-01 2024-09-30 10057528 bus:Director2 2023-04-01 2024-09-30 10057528 core:FurnitureFittings 2023-03-31 10057528 core:WithinOneYear 2024-09-30 10057528 core:WithinOneYear 2023-03-31 10057528 core:ShareCapital 2024-09-30 10057528 core:ShareCapital 2023-03-31 10057528 core:RetainedEarningsAccumulatedLosses 2024-09-30 10057528 core:RetainedEarningsAccumulatedLosses 2023-03-31 10057528 core:FurnitureFittings 2023-03-31 10057528 bus:Director1 2023-03-31 10057528 bus:Director2 2023-03-31 10057528 bus:Director1 2022-03-31 10057528 bus:Director2 2022-03-31 10057528 bus:Director1 2022-04-01 2023-03-31 10057528 bus:Director2 2022-04-01 2023-03-31 10057528 bus:SmallEntities 2023-04-01 2024-09-30 10057528 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-09-30 10057528 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-09-30 10057528 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 10057528 bus:FullAccounts 2023-04-01 2024-09-30 10057528 core:OfficeEquipment 2023-04-01 2024-09-30
COMPANY REGISTRATION NUMBER: 10057528
Industrial Materials Supply Logistics Limited
Filleted Unaudited Financial Statements
30 September 2024
Industrial Materials Supply Logistics Limited
Balance Sheet
30 September 2024
30 Sep 24
31 Mar 23
Note
£
£
Fixed assets
Tangible assets
5
4,958
Current assets
Stocks
593,989
Debtors
6
65,046
956,723
Cash at bank and in hand
413,596
138,519
---------
------------
478,642
1,689,231
Creditors: amounts falling due within one year
7
3,500
923,466
---------
------------
Net current assets
475,142
765,765
---------
---------
Total assets less current liabilities
475,142
770,723
---------
---------
Net assets
475,142
770,723
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
475,141
770,722
---------
---------
Shareholders funds
475,142
770,723
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period to cessation 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 financial statements for the period to cessation in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Industrial Materials Supply Logistics Limited
Balance Sheet (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
Mr K J Greenyer
Director
Company registration number: 10057528
Industrial Materials Supply Logistics Limited
Notes to the Financial Statements
Period to cessation from 1 April 2023 to 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% straight line
Office equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period to cessation amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2023
9,916
Disposals
( 9,916)
-------
At 30 September 2024
-------
Depreciation
At 1 April 2023
4,958
Disposals
( 4,958)
-------
At 30 September 2024
-------
Carrying amount
At 30 September 2024
-------
At 31 March 2023
4,958
-------
6. Debtors
30 Sep 24
31 Mar 23
£
£
Trade debtors
387,977
Other debtors
65,046
568,746
--------
---------
65,046
956,723
--------
---------
7. Creditors: amounts falling due within one year
30 Sep 24
31 Mar 23
£
£
Trade creditors
158,383
Corporation tax
60,488
Social security and other taxes
41,459
Other creditors
3,500
663,136
-------
---------
3,500
923,466
-------
---------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
30 Sep 24
31 Mar 23
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
413,596
1,021,351
---------
------------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
3,501
821,519
-------
---------
9. Directors' advances, credits and guarantees
During the period to cessation the directors entered into the following advances and credits with the company:
30 Sep 24
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K J Greenyer
( 10,890)
10,890
Mr S P Burrows
( 10,890)
10,890
--------
--------
----
( 21,780)
21,780
--------
--------
----
31 Mar 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K J Greenyer
( 8,167)
( 2,722)
(10,889)
Mr S P Burrows
( 8,168)
( 2,723)
(10,891)
--------
-------
--------
( 16,335)
( 5,445)
( 21,780)
--------
-------
--------
10. Related party transactions
During the period the company made sales to GBE Services Limited, a company in which Mr Greenyer and Mr Burrows are both shareholders and directors, of £552,824 (2023 - £1,089,355) and purchases of £445,218 (2023 - £57,897). At the period end the company was owed £nil (2023 - £462,937) by the company. During the period the company made sales to GBE Fabrications Limited, a company in which Mr Greenyer and Mr Burrows are both shareholders and directors, of £399,868 (2023 - £302,032) and purchases of £1,368,751 (2023 - £1,042,153). At the period end the company owed £nil (2023 - £604,764) to the company. During the period the company also made sales of £nil (2023 - £254,498) to, and purchases of £nil (2023 - £nil) from GBE Developments Limited, a company in which Mr Greenyer and Mr Burrows are also both shareholders and directors. At the period end the company was owed £nil (2023 - £31,918) by GBE Developments Limited. During the period the company also made sales of £359,176 (2023 - £319,176) to GBE Services London Limited, a company in which Mr Greenyer and Mr Burrows are also directors and shareholders. At the period end the company was owed £nil (2023 - £nil).