ISM Holdings Limited 04128699 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a holding and property rental company Digita Accounts Production Advanced 6.30.9574.0 false true true 04128699 2023-09-01 2024-08-31 04128699 2024-08-31 04128699 bus:OrdinaryShareClass1 2024-08-31 04128699 2 2024-08-31 04128699 core:CurrentFinancialInstruments 2024-08-31 04128699 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04128699 core:FurnitureFittingsToolsEquipment 2024-08-31 04128699 core:LandBuildings 2024-08-31 04128699 bus:SmallEntities 2023-09-01 2024-08-31 04128699 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04128699 bus:FilletedAccounts 2023-09-01 2024-08-31 04128699 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04128699 bus:RegisteredOffice 2023-09-01 2024-08-31 04128699 bus:Director2 2023-09-01 2024-08-31 04128699 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04128699 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04128699 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 04128699 core:LandBuildings 2023-09-01 2024-08-31 04128699 core:PlantMachinery 2023-09-01 2024-08-31 04128699 core:AllSubsidiaries 2023-09-01 2024-08-31 04128699 core:Subsidiary1 2023-09-01 2024-08-31 04128699 core:Subsidiary1 countries:AllCountries 2023-09-01 2024-08-31 04128699 countries:EnglandWales 2023-09-01 2024-08-31 04128699 2023-08-31 04128699 core:CostValuation 2023-08-31 04128699 core:FurnitureFittingsToolsEquipment 2023-08-31 04128699 core:LandBuildings 2023-08-31 04128699 2022-09-01 2023-08-31 04128699 2023-08-31 04128699 bus:OrdinaryShareClass1 2023-08-31 04128699 2 2023-08-31 04128699 core:CurrentFinancialInstruments 2023-08-31 04128699 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04128699 core:FurnitureFittingsToolsEquipment 2023-08-31 04128699 core:LandBuildings 2023-08-31 04128699 core:Subsidiary1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04128699

ISM Holdings Limited
Annual Report and
Unaudited Financial Statements

31 August 2024

 

ISM Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

ISM Holdings Limited

Balance Sheet
31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

804,171

831,348

Investments

5

150,000

150,000

 

954,171

981,348

Current assets

 

Debtors

6

637,252

425,937

Cash at bank and in hand

 

73,419

47,392

 

710,671

473,329

Creditors: Amounts falling due within one year

7

(1,046,536)

(848,173)

Net current liabilities

 

(335,865)

(374,844)

Net assets

 

618,306

606,504

Capital and reserves

 

Called up share capital

8

140,800

140,800

Capital redemption reserve

9,200

9,200

Retained earnings

468,306

456,504

Shareholders' funds

 

618,306

606,504

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

ISM Holdings Limited

Balance Sheet
31 August 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
P Allen
Director

Company Registration Number: 04128699

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kenyon Street Works
Kenyon Street
Ramsbottom
Bury
Lancashire
BL0 0AB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold

Straight line over 50 years

Plant and machinery

20% per annum

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 5 (2023 - 6).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,195,026

160,352

1,355,378

At 31 August 2024

1,195,026

160,352

1,355,378

Depreciation

At 1 September 2023

363,678

160,352

524,030

Charge for the year

27,177

-

27,177

At 31 August 2024

390,855

160,352

551,207

Carrying amount

At 31 August 2024

804,171

-

804,171

At 31 August 2023

831,348

-

831,348

Included within the net book value of land and buildings above is £804,171 (2023 - £831,348) in respect of freehold land and buildings.
 

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

150,000

150,000

Subsidiaries

£

Cost or valuation

At 1 September 2023

150,000

Provision

Carrying amount

At 31 August 2024

150,000

At 31 August 2023

150,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Irwell Street Metal Co Limited

England and Wales

Ordinary

99.8%

99.8%

         

The principal activity of Irwell Street Metal Co Limited is waste disposal contractors

6

Debtors

Note

2024
£

2023
£

Other debtors

 

225,583

61,064

Prepayments

 

411,669

351,609

Income tax asset

-

13,264

 

637,252

425,937

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

(68,956)

9,695

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

10

465,742

409,913

Taxation and social security

 

161,027

16,446

Accruals and deferred income

 

487,154

410,550

Other creditors

 

1,569

1,569

 

1,046,536

848,173

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

140,800

140,800

140,800

140,800

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

(68,956)

9,695

 

ISM Holdings Limited

Notes to the Financial Statements
Year Ended 31 August 2024

10

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.

Summary of transactions with subsidiaries


Irwell Street Metal Co. Limited

 

ISM Holdings Limited charges Irwell Street Metal Co. Limited management fees.

 

During the year these amounted to £ 474,508 ( 2023 : £ 433,593 ).