Registration number: 13911033

Imolla Commercials Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Imolla Commercials Limited

(Registration number: 13911033)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	200,847	212,662
Tangible assets	5	14,370	19,159
		215,217	231,821
Current assets
Stocks	6	76,313	95,029
Debtors	7	298,493	289,783
Cash at bank and in hand		80,683	48,891
		455,489	433,703
Creditors: Amounts falling due within one year	8	(136,163)	(128,421)
Net current assets		319,326	305,282
Net assets		534,543	537,103
Capital and reserves
Called up share capital		3	3
Share premium reserve		568,680	568,680
Retained earnings		(34,140)	(31,580)
Shareholders' funds		534,543	537,103

Imolla Commercials Limited

(Registration number: 13911033)
Balance Sheet as at 31 March 2026

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 July 2026
 

R Meates Director

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7
Handlemaker Road
Frome
BA11 4RW

These financial statements were authorised for issue by the director on 7 July 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis. As at the date of signing the financial statements, the director confirms that the company is in a position to meet its liabilities for a period of 12 months and that there are no foreseeable events which may give rise to liabilities which exceeds the company's ability to pay. The director has considered the Company’s current financial position, including its loss-making trading performance, and acknowledges that shareholders’ funds remain positive, primarily as a result of the £568,680 share premium reserve included within equity.

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Key sources of estimation uncertainty

In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the company retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the company's activities.

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
 

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	25% reducing balance
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 8 (2025 - 7).

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2025	236,292	236,292
At 31 March 2026	236,292	236,292
Amortisation
At 1 April 2025	23,630	23,630
Amortisation charge	11,815	11,815
At 31 March 2026	35,445	35,445
Carrying amount
At 31 March 2026	200,847	200,847
At 31 March 2025	212,662	212,662

5	Tangible assets

	Furniture, fittings and equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	11,662	6,987	15,454	34,103
At 31 March 2026	11,662	6,987	15,454	34,103
Depreciation
At 1 April 2025	5,450	3,581	5,913	14,944
Charge for the year	1,553	851	2,385	4,789
At 31 March 2026	7,003	4,432	8,298	19,733
Carrying amount
At 31 March 2026	4,659	2,555	7,156	14,370
At 31 March 2025	6,212	3,406	9,541	19,159

Imolla Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6

Stocks

	31 March 2026 £	31 March 2025 £
Inventories	76,313	95,029

7

Debtors

	Note	31 March 2026 £	31 March 2025 £
Trade debtors		148,267	134,018
Amounts owed by related parties	10	144,024	147,366
Other debtors		3,014	6,818
Prepayments		3,188	1,581
		298,493	289,783

8

Creditors

Due within one year	Note	31 March 2026 £	31 March 2025 £
Loans and borrowings	9	-	24,844
Trade creditors		111,779	83,956
Amounts due to related parties	10	1	-
Social security and other taxes		15,962	15,693
Other creditors		4,421	1,228
Accruals		4,000	2,700
		136,163	128,421