IM Automation Systems Limited

	Page
Strategic Report	1
Director's Report	2
Independent Auditor's Report	3—5
Statement of Comprehensive Income	6
Statement of Financial Position	7
Statement of Changes in Equity	8
Statement of Cash Flows	9
Notes to the Statement of Cash Flows	10
Notes to the Financial Statements	11—18

The director presents his strategic report for the year ended 31 January 2025.

Principal Activity

The company's principal activity continues to be that of engineering and installation of industrial machinery and equipment.

Review of the Business

Our key performance indicators are shown below. Although the turnover has declined, the company still recorded a profit after tax of £659,813. The Director projects that for 2026 the revenue and profitability will improve on 2025 levels. The net assets of the company remain strong at £4.3m.

The Director remains committed to delivering excellent service and to managing the company’s strategic direction to match that of the market it operates in and believe that future opportunities in the market remain strong.

Key Performance Indicators

Our number one indicator remains health and safety of our workers, then comes our team and delivery of a quality timely service. Our key financial targets remain profitability and balance sheet strength.

The key financial highlights of the company for the last two years are as below:

	2025	2024
	£	£
Turnover	14,418,977	28,909,054
Profit after Tax	659,813	1,854,108
Gross Profit Margin	20.47%	16.53%
Balance sheet strength	4,363,591	4,203,778

Principal Risks and Uncertainties

Management continually monitor the key risks facing the company together with assessing the controls used for managing these risks. The board of directors formally reviews the principal risks facing the business at least annually. The principal risks and uncertainties affecting the company are those impacting on the operations and are detailed below.

Economic downturn

The company acknowledges the importance of maintaining close relationships with its's key customers in order to be able to identify the early signs of potential financial difficulties. Sales trends in its major markets are constantly reviewed to enable early action to be taken in the event of sales declining.

Competitor pressure

The market in which the company operates is considered to be competitive, and therefore competitor pressure could result in losing sales to key competitors. The company manages this risk by providing quality services and maintaining strong relationships with its key customers.

Financial risk management objectives and policies

The company continues to review its cash flow and liquidity risk.

Future Developments

Our relationship with key customers remains healthy and there is expected to be growth in turnover. Based on current performance and projections, profitability is expected to be maintained in the next financial period.

We expect the strength of the company, its strong balance sheet, our dedicated and experienced team and our reputation in our sector, will continue to the delivery consistent, timely and quality service to our valued customers and to generate profit and positive cashflow going forward.

On behalf of the board

Mr Ian McIlquham

Director

30/10/2025

Page 1

Page 2

IM Automation Systems Limited

Company No. 05226585

Director's Report For The Year Ended 31 January 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 January 2025.

Directors

The director who held office during the year were as follows:

Mr Ian McIlquham

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Affinia (Colchester), have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Ian McIlquham

Director

30/10/2025

Page 2

Page 3

Independent Auditor's Report

to the Members of

IM Automation Systems Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of IM Automation Systems Limited for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Page 3

Page 4

Independent Auditor's Report (continued)

to the Members of

IM Automation Systems Limited

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;

Reviewed the internal controls in place, specifically around payroll and bank transactions; and

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial

transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to

identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal

correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate

concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 4

Page 5

Independent Auditor's Report (continued)

to the Members of

IM Automation Systems Limited

Other matters

In the previous accounting period the directors of the company took advantage of the audit exemption under S477 of the Companies Act. Therefore the comparative 2024 corresponding figures are unaudited.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Oliver White (Senior Statutory Auditor)

for and on behalf of Affinia (Colchester) , Statutory Auditor

30/10/2025

Affinia (Colchester)

The Octagon, Suite 2E, 2nd Floor

Middleborough

Colchester

Essex

CO1 1TG

Page 5

Page 6

IM Automation Systems Limited

Statement of Comprehensive Income

For The Year Ended 31 January 2025

Statement of Comprehensive Income

		2025	2024
	Notes	£	£
TURNOVER	3	14,418,977	28,909,054
Cost of sales		(11,467,224 )	(24,129,818 )

GROSS PROFIT		2,951,753	4,779,236

Distribution costs		(745,274 )	(1,067,953 )
Administrative expenses		(1,258,831 )	(1,189,880 )
Other operating income		1,419	-
Other operating expenses		-	(1,190 )

OPERATING PROFIT	5	949,067	2,520,213
Loss on disposal of fixed assets		-	(5,175 )
Other interest receivable and similar income	10	3,681	-
Interest payable and similar charges	11	(53,547 )	(28,405 )

PROFIT BEFORE TAXATION		899,201	2,486,633
Tax on Profit	12	(239,388 )	(632,525 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		659,813	1,854,108
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		659,813	1,854,108

The notes on pages 10 to 18 form part of these financial statements.

Page 6

Page 7

IM Automation Systems Limited

Statement of Financial Position

As At 31 January 2025

Statement of Financial Position

Registered number: 05226585

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		140,165		161,672
Investments	14		20,925		-

			161,090		161,672
CURRENT ASSETS
Stocks	15	446,304		738,513
Debtors	16	1,246,571		4,718,125
Cash at bank and in hand		5,255,802		1,689,488

		6,948,677		7,146,126
Creditors: Amounts Falling Due Within One Year	17	(2,679,473 )		(2,906,803 )

NET CURRENT ASSETS (LIABILITIES)			4,269,204		4,239,323

TOTAL ASSETS LESS CURRENT LIABILITIES			4,430,294		4,400,995

Creditors: Amounts Falling Due After More Than One Year	18		(45,125 )		(173,491 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	21		(21,578 )		(23,726 )

NET ASSETS			4,363,591		4,203,778

CAPITAL AND RESERVES
Called up share capital	23		100		100
Income Statement			4,363,491		4,203,678

SHAREHOLDERS' FUNDS			4,363,591		4,203,778

On behalf of the board

Mr Ian McIlquham

Director

30/10/2025

The notes on pages 10 to 18 form part of these financial statements.

Page 7

Page 8

IM Automation Systems Limited

Statement of Changes in Equity

For The Year Ended 31 January 2025

Statement of Changes in Equity

	Share Capital	Income Statement	Total
	£	£	£
As at 1 February 2023	100	2,939,570	2,939,670
Profit for the year and total comprehensive income	-	1,854,108	1,854,108

Dividends paid	-	(590,000)	(590,000)

As at 31 January 2024 and 1 February 2024	100	4,203,678	4,203,778


Profit for the year and total comprehensive income	-	659,813	659,813

Dividends paid	-	(500,000)	(500,000)

As at 31 January 2025	100	4,363,491	4,363,591

Page 8

Page 9

IM Automation Systems Limited

Statement of Cash Flows

For The Year Ended 31 January 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	5,267,572	1,252,675
Interest paid		(53,547 )	(28,405 )
Tax paid		(871,204 )	(563,497 )

Net cash generated from operating activities		4,342,821	660,773

Cash flows from investing activities
Purchase of tangible assets		(18,371 )	(7,356 )
Purchase of other fixed asset investments		(20,925 )	-
Interest received		3,681	-

Net cash used in investing activities		(35,615 )	(7,356 )

Cash flows from financing activities
Equity dividends paid		(500,000 )	(590,000 )
Repayment of bank borrowings		(125,000 )	(125,000 )
Repayment of finance leases		(3,032 )	(2,701 )

Net cash used in financing activities		(628,032 )	(717,701 )



Increase/(decrease) in cash and cash equivalents		3,679,174	(64,284 )
Cash and cash equivalents at beginning of year	2	1,689,488	2,050,117
Foreign exchange losses on cash and cash equivalents		(112,860 )	(296,345 )

Cash and cash equivalents at end of year	2	5,255,802	1,689,488

Page 9

Page 10

IM Automation Systems Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 January 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	659,813	1,854,108
Adjustments for:
Tax on profit	239,388	632,525
Interest expense	53,547	28,405
Interest income	(3,681 )	-
Depreciation of tangible assets	39,878	44,574
Loss on disposal of tangible assets	-	5,175
Foreign exchange losses	112,860	296,345
Movements in working capital:
Decrease/(increase) in stocks	292,209	(107,738 )
Decrease/(increase) in trade and other debtors	3,471,554	(2,554,697 )
Increase in trade and other creditors	402,004	1,053,978

Net cash generated from operations	5,267,572	1,252,675

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	5,255,802	1,689,488

3. Analysis of changes in net funds

	As at 1 February 2024	Cash flows	As at 31 January 2025
	£	£	£
Cash at bank and in hand	1,689,488	3,566,314	5,255,802
Finance leases	(20,274)	3,032	(17,242)
Debts falling due within one year	(125,000 )	-	(125,000 )
Debts falling due after more than one year	(156,250)	125,000	(31,250)

	1,387,964	3,694,346	5,082,310

Page 10

Page 11

IM Automation Systems Limited

Notes to the Financial Statements

For The Year Ended 31 January 2025

Notes to the Financial Statements

1. General Information

IM Automation Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05226585 . The registered office is Stock House Josselin Road, Burnt Mills Industrial Estate, Basildon, SS13 1QE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover is reduced for estimated customer returns, rebates and other similar allowances. The policies adopted for the recognition of turnover are as follows:

Contracts

When the outcome of a contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of contract completion is measured by reference to the management team.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% Straight Line
Plant & Machinery	25% Reducing Balance

2.4. Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

Page 11

Page 12

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Installation of industrial machinery and equipment	14,418,977	28,909,054

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	5,843,510	753,720
Europe	8,576,640	28,154,800
Asia	-	(98 )
Rest of the world	(1,173 )	632

	14,418,977	28,909,054

Page 12

Page 13

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Other Operating Income

	2025	2024
	£	£
Other operating income	1,419	-

	1,419	-

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	1,996	-
Depreciation of tangible fixed assets	39,878	44,574

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	20,000	-

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	1,984,902	2,545,698
Social security costs	202,570	266,779
Other pension costs	167,729	33,602

	2,355,201	2,846,079

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	7	7
Operational	25	26

	32	33

9. Director's remuneration

	2025	2024
	£	£
Emoluments	11,940	8,760

Page 13

Page 14

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	3,681	-

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	25,821	25,269
Finance charges payable under finance leases and hire purchase contracts	1,014	1,347
Late payment tax charges	4,464	1,789
Other finance charges	22,248	-

	53,547	28,405

12. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	24.0%	241,536	639,672
Deferred Tax
Deferred taxation			(2,148 )	(7,147 )


Total tax charge for the period			239,388	632,525


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			899,201	2,486,633

Tax on profit at 25% (UK standard rate)			224,800	621,223
Goodwill/depreciation not allowed for tax			8,970	9,430
Expenses not deductible for tax purposes			13,375	11,978
Capital allowances			(5,609 )	(2,959 )
Deferred tax relating to changes in tax rates or laws			(2,148 )	(7,147 )

Total tax charge for the period			239,388	632,525

Page 14

Page 15

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

13. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 February 2024	88,481	308,804	397,285
Additions	-	18,371	18,371

As at 31 January 2025	88,481	327,175	415,656

Depreciation
As at 1 February 2024	44,305	191,308	235,613
Provided during the period	8,848	31,030	39,878

As at 31 January 2025	53,153	222,338	275,491

Net Book Value
As at 31 January 2025	35,328	104,837	140,165

As at 1 February 2024	44,176	117,496	161,672

14. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2024	-
Additions	20,925

As at 31 January 2025	20,925

Provision
As at 1 February 2024	-

As at 31 January 2025	-

Net Book Value
As at 31 January 2025	20,925

As at 1 February 2024	-

Subsidiaries

Details of the company's subsidiaries as at 31 January 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
IM Automation Systems Gmbh	Steinstr 7-9, 64807, Dieberg, Germany	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
IM Automation Systems Gmbh	20,925	-

The company was dormant during this period.

Page 15

Page 16

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

15. Stocks

	2025	2024
	£	£
Work in progress	446,304	738,513

16. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	666,485	4,036,554
Other debtors	580,086	681,571

	1,246,571	4,718,125

17. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,367	3,033
Trade creditors	1,340,187	1,458,760
Bank loans and overdrafts	125,000	125,000
Other creditors	219,178	460,680
Corporation tax	-	629,668
Taxation and social security	69,165	68,137
Accruals and deferred income	922,576	161,525

	2,679,473	2,906,803

18. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,875	17,241
Bank loans	31,250	156,250

	45,125	173,491

19. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	125,000	125,000

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	31,250	156,250

Page 16

Page 17

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

20. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,367	3,033
Later than one year and not later than five years	13,875	17,241

	17,242	20,274

	17,242	20,274

21. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	21,578	23,726

22. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 February 2024	23,726	23,726
Reversals	(2,148 )	(2,148)

Balance at 31 January 2025	21,578	21,578

23. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

24. Contingent Liabilities

The company has issued performance bonds in favour of its customers in relation to contractual obligations.

The total value of performance bonds outstanding at the balance sheet date is £8,000,000 (2024: £215,277). These bonds are guaranteed by the company’s bank and represent contingent liabilities. No provision has been made in the financial statements as the directors consider the likelihood of a call on the bonds to be remote.

Should a bond be called upon, the company would be required to settle the amount with the bank, at which point the corresponding liability and expense would be recognised in the financial statements.

25. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	161,250	47,250
Later than one year and not later than five years	61,250	59,063

	222,500	106,313

Page 17

Page 18

IM Automation Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

26. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the income statement in respect of defined contribution schemes was £167,729 (2024: £33,602)

At the statement of financial position date contributions of £5,159 (2024: £7,285) were due to the fund and are included in creditors.

27. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	500,000	590,000

28. Related Party Disclosures

IMAS Investments Limited

Included within Other Debtors is £129,597 (2024: £98,624) due from IMAS Investments Limited.

During the year IMAS Investments Limited charged IM Automation Systems Limited rent of £71,250 (2024: £47,250)

IMAS Europe SRL

Included within Other Debtors is £73,587 (2024: £62,127) due from IMAS Europe SRL.

These companies are all owned 100% by Mr I McIlquham.

29. Controlling Parties

The company's ultimate controlling party is Ian McIlquham by virtue of their interest in the share capital of the company.

Page 18