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REGISTERED NUMBER: 08778024 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

IML (UK) LTD

IML (UK) LTD (REGISTERED NUMBER: 08778024)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IML (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: D J Zollo
J R Way
Mrs K A Zollo
Mrs S J Way





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 08778024 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

IML (UK) LTD (REGISTERED NUMBER: 08778024)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 3,900 -
Tangible assets 5 1,648,046 1,925,057
1,651,946 1,925,057

CURRENT ASSETS
Stocks 820,450 813,400
Debtors 6 1,066,504 801,146
Cash at bank 37,261 227,813
1,924,215 1,842,359
CREDITORS
Amounts falling due within one year 7 2,091,322 1,763,882
NET CURRENT (LIABILITIES)/ASSETS (167,107 ) 78,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,484,839

2,003,534

CREDITORS
Amounts falling due after more than one
year

8

(769,114

)

(1,108,779

)

PROVISIONS FOR LIABILITIES 10 (246,855 ) (226,247 )
NET ASSETS 468,870 668,508

CAPITAL AND RESERVES
Called up share capital 11 110 102
Retained earnings 468,760 668,406
SHAREHOLDERS' FUNDS 468,870 668,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IML (UK) LTD (REGISTERED NUMBER: 08778024)

BALANCE SHEET - continued
30 NOVEMBER 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by:




J R Way - Director



D J Zollo - Director


IML (UK) LTD (REGISTERED NUMBER: 08778024)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

IML (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Steel building - 20% on reducing balance
Plant and machinery - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks and work in progress 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 and in the case of work in progress a proportion of attributable profit.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

IML (UK) LTD (REGISTERED NUMBER: 08778024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 4,000
At 30 November 2024 4,000
AMORTISATION
Amortisation for year 100
At 30 November 2024 100
NET BOOK VALUE
At 30 November 2024 3,900

5. TANGIBLE FIXED ASSETS
Steel Plant and Motor Office
building machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 11,143 3,163,624 10,490 46,178 3,231,435
Additions - 58,714 - 6,406 65,120
At 30 November 2024 11,143 3,222,338 10,490 52,584 3,296,555
DEPRECIATION
At 1 December 2023 4,012 1,284,136 1,967 16,263 1,306,378
Charge for year 1,426 329,494 2,131 9,080 342,131
At 30 November 2024 5,438 1,613,630 4,098 25,343 1,648,509
NET BOOK VALUE
At 30 November 2024 5,705 1,608,708 6,392 27,241 1,648,046
At 30 November 2023 7,131 1,879,488 8,523 29,915 1,925,057

IML (UK) LTD (REGISTERED NUMBER: 08778024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2023 2,571,380 10,490 2,581,870
Transfer to ownership (119,270 ) (10,490 ) (129,760 )
At 30 November 2024 2,452,110 - 2,452,110
DEPRECIATION
At 1 December 2023 861,374 1,967 863,341
Charge for year 334,233 - 334,233
Transfer to ownership (80,429 ) (1,967 ) (82,396 )
At 30 November 2024 1,115,178 - 1,115,178
NET BOOK VALUE
At 30 November 2024 1,336,932 - 1,336,932
At 30 November 2023 1,710,006 8,523 1,718,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,059,141 769,069
Other debtors 4,417 29,417
Prepayments 2,946 2,660
1,066,504 801,146

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2 -
Hire purchase contracts 514,259 468,342
Trade creditors 396,393 272,348
Taxation and social security 310,992 273,237
Other creditors 869,676 749,955
2,091,322 1,763,882

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 769,114 1,108,779

IML (UK) LTD (REGISTERED NUMBER: 08778024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 2 -
Hire purchase contracts 1,283,373 1,577,121
1,283,375 1,577,121

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 246,855 226,247

Deferred
tax
£   
Balance at 1 December 2023 226,247
Charge to Statement of Income and Retained Earnings during year 20,608
Balance at 30 November 2024 246,855

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90
10 Ordinary A £1 10 10
9 Ordinary B £1 9 1
(2023 - 1 )
1 Ordinary C £1 1 1
110 102

The following shares were issued during the year for cash at par :

8 Ordinary B shares of £1