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COMPANY REGISTRATION NUMBER: 2416272
I M L Group Limited
Filleted Unaudited Accounts
31 March 2024
I M L Group Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
2,229,204
2,229,204
Creditors: amounts falling due within one year
5
( 1,324,045)
( 1,324,045)
------------
------------
Net current liabilities
( 1,324,045)
( 1,324,045)
------------
------------
Total assets less current liabilities
905,159
905,159
Creditors: amounts falling due after more than one year
6
( 128,295)
( 128,295)
---------
---------
Net assets
776,864
776,864
---------
---------
Capital and reserves
Called up share capital
776,863
776,863
Profit and loss account
1
1
---------
---------
Shareholders funds
776,864
776,864
---------
---------
These accounts 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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 accounts for the year 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 accounts .
These accounts were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
P N Jago
Director
Company registration number: 2416272
I M L Group Limited
Notes to the Accounts
Year ended 31 March 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 Blair House, 184/186 High Street, Tonbridge, Kent, TN9 1BE.
2. Statement of compliance
These accounts 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 accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
4. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
2,229,204
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
2,229,204
------------
At 31 March 2023
2,229,204
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,316,281
1,316,281
Social security and other taxes
2,171
2,171
Other creditors
5,593
5,593
------------
------------
1,324,045
1,324,045
------------
------------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Secured Redeemable Loan Stock
128,295
128,295
---------
---------
The secured redeemable loan stock is repayable at the option of either the stockholders or the company. The stock bears interest at 2% below Barclays Bank base rate. The interest becomes due upon repayment of the principal loan, however the stockholders have agreed not to request payment of interest at the present time. The redeemable loan stock is secured against all freehold property and all other tangible and intangible assets.