Registered number
07996050
IMS&M Technology Limited
Filleted Accounts
31 March 2024
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
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