| Registered number |
| Registered number: | |||||||
| Abridged Statement of Financial Position | |||||||
| as at |
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| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | |||||||
| Creditors: amounts falling due within one year | ( |
( |
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| Net current liabilities | ( |
( |
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| Net assets | |||||||
| Capital and reserves | |||||||
| Called up share capital | |||||||
| Shareholders' funds | |||||||
| Mr H R Collier | |||||||
| Director | |||||||
| Approved by the board on |
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| Notes to the Abridged Accounts | ||||||||
| as at |
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| 1 | Accounting policies | |||||||
| Basis of preparation | ||||||||
| Tangible assets | ||||||||
| Impairment of fixed assets | ||||||||
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 are 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. |
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| Financial Instruments | ||||||||
| A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangements constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
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| 2 | Employees | 2024 | 2023 | |||||
| Number | Number | |||||||
| Average number of persons employed by the company | ||||||||
| 3 | Other information | |||||||
| I S M (Malmesbury) Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
| 9 Inner Silk Mill | ||||||||
| Lower High Street | ||||||||
| Malmesbury | ||||||||
| Wiltshire | ||||||||
| SN16 9LP | ||||||||