Company Registration No. 13419501 (England and Wales)
IMA London 3 Limited
Unaudited accounts
for the year ended 31 December 2024
IMA London 3 Limited
Unaudited accounts
Contents
IMA London 3 Limited
Company Information
for the year ended 31 December 2024
Company Number
13419501 (England and Wales)
Registered Office
UNIT 28 SALISBURY ROAD
UXBRIDGE
UB8 2RZ
ENGLAND
IMA London 3 Limited
Statement of financial position
as at 31 December 2024
Investment property
600,000
595,000
Cash at bank and in hand
2,166
3,149
Creditors: amounts falling due within one year
(168,050)
(159,723)
Net current liabilities
(159,580)
(156,574)
Total assets less current liabilities
440,420
438,426
Creditors: amounts falling due after more than one year
(437,192)
(436,713)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
1,234
969
Shareholders' funds
1,235
970
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 September 2025 and were signed on its behalf by
Mr Ishil Mehta
Director
Company Registration No. 13419501
IMA London 3 Limited
Notes to the Accounts
for the year ended 31 December 2024
IMA London 3 Limited is a private company, limited by shares, registered in England and Wales, registration number 13419501. The registered office is UNIT 28 SALISBURY ROAD, UXBRIDGE, UB8 2RZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises rental income and other sums receivable from occupiers of Investment Properties. Turnover is recognised on an accruals basis and rental income is recognised on a straight line basis over the lease term. Income received in advance
of the reporting date is held as deferred income under creditors.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
IMA London 3 Limited
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial nstruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are
classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Fair value at 1 January 2024
595,000
Net gain from fair value adjustments
5,000
At 31 December 2024
600,000
Investment properties are valued by the directors. Valuations are undertaken with reference to the Land Registry House Price Index and reflect the director's views of open market value.
The historic cost of investment properties held at the period end is £592,029 (2023: £592,029).
Amounts falling due within one year
Amounts due from group undertakings etc.
2,104
-
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
166,950
158,623
IMA London 3 Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
437,192
436,713
A loan has been provided to the company from its external lenders that is secured by a first charge over the company's investment property.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loans
-
4,200
-
4,200
Loans made to directors are unsecured, have no fixed date of repayment, are repayable on demand and interest free.
9
Transactions with related parties
The company trades with its ultimate parent company and fellow wholly owned subsidiaries in the group.
Amounts owed to the ultimate parent company of £166,950 (2023: £157,403) are unsecured, have no fixed date of repayment, are repayable on demand and subject to an average interest rate of 5.5% (2022: 3.0%).
Amounts owed to other group undertakings of £2,104 (2023: £nil) are unsecured, have no fixed date of repayment, are repayable on demand and are non interest bearing.
The company is part of the IMA Holdings Limited group, the ultimate parent undertaking, whose registered office is at: Unit 28 Salisbury Road, Uxbridge, England, UB8 2RZ. IMA Holdings Limited does not produce consolidated group accounts.
The ultimate controlling party is Mr I Mehta.
11
Post balance sheet events
In June 2025 the company completed on the sale of its investment property to a third-party purchaser for a cash consideration of £537,500.
12
Average number of employees
During the year the average number of employees was 1 (2023: 1).