Company registration number 06501612 (England and Wales)
IMB SERVICES (LANCASHIRE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
IMB SERVICES (LANCASHIRE) LIMITED
COMPANY INFORMATION
Director
Mr C Wade
Secretary
Mrs D Bateson
Company number
06501612
Registered office
Unit 1 Moorings Close Ind Est
Lower Hollin Bank St
Blackburn
Lancashire
BB2 4AH
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
IMB SERVICES (LANCASHIRE) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
IMB SERVICES (LANCASHIRE) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
88,163
64,993
88,163
64,993
Current assets
Debtors
5
100,449
94,237
Cash at bank and in hand
11,117
8,177
111,566
102,414
Creditors: amounts falling due within one year
6
(93,526)
(81,922)
Net current assets
18,040
20,492
Total assets less current liabilities
106,203
85,485
Creditors: amounts falling due after more than one year
7
(86,912)
(72,752)
Provisions for liabilities
(16,751)
(11,656)
Net assets
2,540
1,077
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
2,539
1,076
Total equity
2,540
1,077
IMB SERVICES (LANCASHIRE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
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 30 September 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.
The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
Mr C Wade
Director
Company Registration No. 06501612
IMB SERVICES (LANCASHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
IMB Services (Lancashire) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Moorings Close Ind Est, Lower Hollin Bank St, Blackburn, Lancashire, BB2 4AH.
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
Going concern
The director trueis not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services provided net of VAT and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
20% reducing balance
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.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
IMB SERVICES (LANCASHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.10
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
11
11
IMB SERVICES (LANCASHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
25,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
25,000
Carrying amount
At 30 September 2024
At 30 September 2023
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
143,314
Additions
37,082
At 30 September 2024
180,396
Depreciation and impairment
At 1 October 2023
78,321
Depreciation charged in the year
13,912
At 30 September 2024
92,233
Carrying amount
At 30 September 2024
88,163
At 30 September 2023
64,993
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2024
2023
£
£
Motor vehicles
81,462
54,456
Depreciation charge for the year in respect of leased assets
12,827
18,152
IMB SERVICES (LANCASHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
75,895
78,218
Amounts owed by group undertakings
18,937
11,402
Other debtors
4,417
3,417
Prepayments and accrued income
1,200
1,200
100,449
94,237
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
25,516
3,750
Obligations due under hire purchase contracts
21,684
22,779
Trade creditors
7,948
12,907
Other taxation and social security
29,085
22,615
Accruals and deferred income
8,638
9,026
92,871
71,077
Net obligations due under hire purchase contracts are secured by fixed charges on the assets financed.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
34,375
40,625
Obligations due under hire purchase contracts
52,537
32,127
86,912
72,752
IMB SERVICES (LANCASHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1