IMS&M Technology Limited |
Registered number: |
07996050 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
277 |
|
Current assets |
Stocks |
|
|
23,132 |
|
|
41,611 |
Debtors |
4 |
|
274 |
|
|
3,374 |
Cash at bank and in hand |
|
|
54,700 |
|
|
60,798 |
|
|
|
78,106 |
|
|
105,783 |
|
Creditors: amounts falling due within one year |
5 |
|
(21,385) |
|
|
(18,763) |
|
Net current assets |
|
|
|
56,721 |
|
|
87,020 |
|
Total assets less current liabilities |
|
|
|
56,721 |
|
|
87,297 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(115,402) |
|
|
(134,202) |
|
Net liabilities |
|
|
|
(58,681) |
|
|
(46,905) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(58,682) |
|
|
(46,906) |
|
Shareholder's funds |
|
|
|
(58,681) |
|
|
(46,905) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
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. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
M. M. Shenker Esq |
Director |
Approved by the board on 25 March 2025 |
|
IMS&M Technology Limited |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods which is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 3 years |
|
Office equipment, etc. |
over 3 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Office equipment, etc. |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2023 |
59,239 |
|
3,593 |
|
62,832 |
|
At 31 March 2024 |
59,239 |
|
3,593 |
|
62,832 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
59,239 |
|
3,316 |
|
62,555 |
|
Charge for the year |
- |
|
277 |
|
277 |
|
At 31 March 2024 |
59,239 |
|
3,593 |
|
62,832 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
- |
|
- |
|
- |
|
At 31 March 2023 |
- |
|
277 |
|
277 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
274 |
|
3,374 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
9,400 |
|
9,400 |
|
Other creditors |
11,985 |
|
9,363 |
|
|
|
|
|
|
21,385 |
|
18,763 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
4,100 |
|
23,500 |
|
Other creditors |
111,302 |
|
110,702 |
|
|
|
|
|
|
115,402 |
|
134,202 |
|
|
|
|
|
|
|
|
|
|
7 |
Going concern |
|
|
The directors have prepared the accounts on a going concern basis, notwithstanding that the company has net liabilities. The company has received assurances from its creditors, who have confirmed that they will continue their support of the company. On the basis of the above, the directors are of the opinion that it is appropriate to prepare the Financial Statements on a going concern basis. |
|
|
8 |
Related party transactions |
2024 |
|
2023 |
£ |
£ |
|
Services provided |
|
Accounting and other services |
8,300 |
|
8,500 |
|
|
|
|
|
|
|
|
|
|
M. M. Shenker |
|
M.M. Shenker is a director od Emandar Tax Ltd, who provide accountancy services to the company. He is also a director of the corporate director, Emandar Nominees Ltd and during the year, there were no transactions with this company. |
|
9 |
Controlling party |
|
|
The company is controlled by the director who owns the entire share capital of the company as nominee. |
|
|
10 |
Other information |
|
|
IMS&M Technology Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
Devonshire House |
|
Manor Way |
|
Borehamwood |
|
Hertfordshire |
|
WD6 1QQ |