Company registration number SC269354 (Scotland)
International Medical Management Inc. Limited
Unaudited financial statements
for the year ended 31 August 2024
Pages for filing with registrar
International Medical Management Inc. Limited
Balance sheet
as at 31 August 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
14,226
18,408
Current assets
Stocks
4,303
3,000
Debtors
880,353
620,006
Cash at bank and in hand
5,708
2,353
890,364
625,359
Creditors: amounts falling due within one year
(2,562,313)
(2,038,016)
Net current liabilities
(1,671,949)
(1,412,657)
Net liabilities
(1,657,723)
(1,394,249)
Capital and reserves
Called up share capital
950
950
Capital redemption reserve
50
50
Profit and loss reserves
(1,658,723)
(1,395,249)
Total equity
(1,657,723)
(1,394,249)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
International Medical Management Inc. Limited
Balance sheet (continued)
as at 31 August 2024
2
The financial statements were approved and signed by the director and authorised for issue on 28 May 2025
Capt S C MacBride
Director
Company registration number SC269354 (Scotland)
International Medical Management Inc. Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of International Medical Management Inc. Limited
3
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of International Medical Management Inc. Limited for the year ended 31 August 2024 which comprise, 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of International Medical Management Inc. Limited, in accordance with the terms of our engagement letter dated 15 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of International Medical Management Inc. Limited and state those matters that we have agreed to state to the director of International Medical Management Inc. Limited, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than International Medical Management Inc. Limited and its director, for our work or for this report.
It is your duty to ensure that International Medical Management Inc. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of International Medical Management Inc. Limited. You consider that International Medical Management Inc. Limited 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 financial statements of International Medical Management Inc. Limited. 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 financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
29 May 2025
International Medical Management Inc. Limited
Notes to the financial statements
for the year ended 31 August 2024
4
1
Accounting policies
Company information
International Medical Management Inc. Limited is a private company limited by shares incorporated in Scotland. The registered office is 11 Bon Accord Square, Aberdeen, AB11 6DJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
10 years straight line
Plant and equipment
3 and 4 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
International Medical Management Inc. Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
1
Accounting policies (continued)
5
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
22,087
104,895
126,982
Depreciation and impairment
At 1 September 2023
21,458
87,116
108,574
Depreciation charged in the year
629
3,553
4,182
At 31 August 2024
22,087
90,669
112,756
Carrying amount
At 31 August 2024
14,226
14,226
At 31 August 2023
629
17,779
18,408
3
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
16,750
16,750