| IMT Space Limited |
| Accountants' report |
|
|
| Accountants' report to the director of |
| IMT Space Limited |
|
| You consider that the company is exempt from an audit for the year ended 31 March 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its suplus or deficit for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the income & expenditure account, the balance sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Geoffrey K Potter FAIA |
| N W Potter & Co |
| International Accountants |
|
| Station House |
| Station Road |
| Betchworth |
| Surrey |
| RH3 7BZ |
|
| 7 December 2025 |
|
| IMT Space Limited |
| Registered number: |
05453819 |
| Balance sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
338 |
|
|
424 |
|
| Current assets |
| Cash at bank and in hand |
|
|
2,381 |
|
|
2,182 |
|
| Creditors: amounts falling due within one year |
4 |
|
(927) |
|
|
(2,344) |
|
| Net current assets/(liabilities) |
|
|
|
1,454 |
|
|
(162) |
|
| Net assets |
|
|
|
1,792 |
|
|
262 |
|
|
|
|
|
|
|
|
| Accumulated funds |
| Income & expenditure account |
|
|
|
1,792 |
|
|
262 |
|
| Accumulated funds |
|
|
|
1,792 |
|
|
262 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. |
|
|
|
|
| L A Friend |
| Director |
| Approved by the board on 7 December 2025 |
|
| IMT Space Limited |
| Notes to the accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Income |
|
Income consists of grants, sponsorships, sales of artwork, commissions, hire of premises, donations and contributions from members received and receivable during the year as appropriate. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office & other equipment |
20% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The company is a mutual company within section 1070 CT 2010 so there is no liability to tax on income. Although there are references to taxation in the financial statements, no entries are required. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Office and other equipment |
| £ |
|
Cost |
|
At 1 April 2024 |
8,852 |
|
At 31 March 2025 |
8,852 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
8,428 |
|
Charge for the year |
86 |
|
At 31 March 2025 |
8,514 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
338 |
|
At 31 March 2024 |
424 |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
927 |
|
1,344 |
|
Other creditors |
- |
|
1,000 |
|
|
|
|
|
|
927 |
|
2,344 |
|
|
|
|
|
|
|
|
|
|
Other Creditors (2024 at £1,000) represented a short term unsecured private loan to the Company. This was repaid in full this year. |
|
| 5 |
Company Status |
|
|
The company is a private company limited by guarantee and consequently has no share capital. Each member is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of a liquidation. |
|
|
| 6 |
Controlling party |
|
|
There are three members as at the date of signing the directors' report, none of whom has control over the company as an individual. |
|
|
| 7 |
Other information |
|
|
IMT Space Limited is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
Station House |
|
Station Road |
|
Betchworth |
|
Surrey |
|
RH3 7BZ |