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IMPERIAL SALES SERVICES LIMITED

Registered Number
09147573
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

IMPERIAL SALES SERVICES LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

REGAN, Thomas James

Registered Address

83 Ducie Street
Manchester
M1 2JQ

Registered Number

09147573 (England and Wales)
IMPERIAL SALES SERVICES LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38631,125
8631,125
Current assets
Stocks450,07230,500
Debtors518,8984,443
Cash at bank and on hand7,52875,819
76,498110,762
Creditors amounts falling due within one year6(70,777)(48,606)
Net current assets (liabilities)5,72162,156
Total assets less current liabilities6,58463,281
Creditors amounts falling due after one year7(6,180)(9,656)
Provisions for liabilities8(164)(214)
Net assets24053,411
Capital and reserves
Called up share capital11
Profit and loss account23953,410
Shareholders' funds24053,411
The financial statements were approved and authorised for issue by the Director on 28 April 2025, and are signed on its behalf by:
REGAN, Thomas James
Director
Registered Company No. 09147573
IMPERIAL SALES SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 236102,8713,481
At 31 July 246102,8713,481
Depreciation and impairment
At 01 August 234221,9342,356
Charge for year28234262
At 31 July 244502,1682,618
Net book value
At 31 July 24160703863
At 31 July 231889371,125
4.Stocks

2024

2023

££
Other stocks50,07230,500
Total50,07230,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables12,360-
Other debtors6,2724,177
Prepayments and accrued income266266
Total18,8984,443
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,76212,236
Bank borrowings and overdrafts3,5233,283
Taxation and social security40,68330,564
Other creditors2,8092,523
Total70,77748,606
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts6,1809,656
Total6,1809,656
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)164214
Total164214