| Immensa Management Ltd |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Immensa Management Ltd for the year ended 31 March 2024 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Immensa Management Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance |
| This report is made solely to the Board of Directors of Immensa Management Ltd, as a body, in accordance with the terms of our engagement letter dated 11 January 2019. Our work has been undertaken solely to prepare for your approval the accounts of Immensa Management Ltd and state those matters that we have agreed to state to the Board of Directors of Immensa Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Immensa Management Ltd and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Immensa Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Immensa Management Ltd. You consider that Immensa Management Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Immensa Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
|
| MAH, Chartered Accountants |
| 2nd Floor |
| 154 Bishopsgate |
| London |
| EC2M 4LN |
|
| 15 May 2025 |
|
| Immensa Management Ltd |
| Registered number: |
09116498 |
| Balance Sheet |
| as at 31 March 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
41,552 |
|
|
21,215 |
|
| Current assets |
| Debtors |
4 |
|
227,623 |
|
|
119,831 |
| Cash at bank and in hand |
|
|
28,465 |
|
|
4,192 |
|
|
|
256,088 |
|
|
124,023 |
|
| Creditors: amounts falling due within one year |
5 |
|
(236,785) |
|
|
(135,232) |
|
| Net current assets/(liabilities) |
|
|
|
19,303 |
|
|
(11,209) |
|
| Total assets less current liabilities |
|
|
|
60,855 |
|
|
10,006 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(42,824) |
|
|
(48,988) |
|
| Provisions for liabilities |
|
|
|
(5,892) |
|
|
(5,892) |
|
| Net assets/(liabilities) |
|
|
|
12,139 |
|
|
(44,874) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
8 |
|
|
12,039 |
|
|
(44,974) |
|
| Shareholder's funds |
|
|
|
12,139 |
|
|
(44,874) |
|
|
|
|
|
|
|
|
| During the year £152,693 was advanced to, and £77,064 was repaid by, the director. The balance outstanding at the year end of £174,145 (2023: £98,046) and it was not repaid within 9 months of the period end. The average interest rate applicable to overdrawn current account was 2.25%. |
| The company is exempt from the requirements relating to preparing audited accounts in accordance with 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 director acknowledges his 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. |
|
|
|
|
| Russell James Fordham Kirk |
| Director |
| Approved by the board on 15 May 2025 |
|
| The notes on pages 3 to 6 form part of these financial statements. |
|
| Immensa Management Ltd |
| 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 and from the rendering of services. 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. |
|
|
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, other than freehold land, 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 |
25% straight line |
|
Fixtures, fittings |
25% straight line |
|
|
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. |
|
| 1 |
Accounting policies (continued) |
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
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. |
|
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2023 |
157,715 |
|
Additions |
40,720 |
|
At 31 March 2024 |
198,435 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
136,500 |
|
Charge for the year |
20,383 |
|
At 31 March 2024 |
156,883 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
41,552 |
|
At 31 March 2023 |
21,215 |
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
53,478 |
|
21,315 |
|
Other debtors |
174,145 |
|
98,516 |
|
|
|
|
|
|
227,623 |
|
119,831 |
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
13,539 |
|
13,315 |
|
Taxation and social security costs |
221,279 |
|
118,750 |
|
Accruals and deferred income |
1,967 |
|
3,167 |
|
|
|
|
|
|
236,785 |
|
135,232 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
42,824 |
|
48,988 |
|
|
|
|
|
|
42,824 |
|
48,988 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
2024 |
|
2023 |
|
Allotted, called up and fully paid: |
Value |
Number |
£ |
£ |
|
Creditors include: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
100 |
|
100 |
|
| 8 |
Profit and loss account |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 April 2023 |
(44,974) |
|
(55,013) |
|
(Loss)/profit for the financial year |
107,013 |
|
10,039 |
|
|
At 31 March 2024 |
12,039 |
|
(44,974) |
|
|
|
|
|
|
|
|
|
|
| 9 |
Deferred taxation |
2024 |
|
2023 |
| £ |
£ |
|
|
Tax carried forward |
|
5,892 |
|
5,892 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Related party transactions |
|
|
Other debtors includes a current account balance of £174,145 (2023: £98,046) due from the director. The balance is receivable on demand and relates to net expenses incurred by the company on behalf of the director plus dividends. The balance was not repaid within 9 months of the year end. The average interest rate applicable to overdrawn current account was 2.25%. The shareholders received dividends of £50,000 (2023: £0.00). |
|
|
| 11 |
Controlling party |
|
|
The director is the 100% shareholder and controls the company. |
|
|
| 12 |
Other information |
|
|
Immensa Management Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
2nd Floor |
|
154 Bishopsgate |
|
London |
|
EC2M 4LN |