REGISTERED NUMBER: 08778024 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

IML (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Zollo

J R Way

Mrs K A Zollo

Mrs S J Way

REGISTERED OFFICE:

18 High West Street

Dorchester

Dorset

DT1 1UW

REGISTERED NUMBER:

08778024 (England and Wales)

ACCOUNTANTS:

Pugsley Revill

18 High West Street

Dorchester

Dorset

DT1 1UW

FIXED ASSETS

Intangible assets

4

3,500

3,900

Tangible assets

5

1,376,185

1,648,046

1,379,685

1,651,946

CURRENT ASSETS

Stocks

819,000

820,450

Debtors

6

609,647

1,066,504

Cash at bank

8,240

37,261

1,436,887

1,924,215

CREDITORS

Amounts falling due within one year

7

1,379,067

2,091,322

NET CURRENT ASSETS/(LIABILITIES)

57,820

(167,107

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,437,505

1,484,839

CREDITORS

Amounts falling due after more than one year

8

(991,296

)

(769,114

)

PROVISIONS FOR LIABILITIES

10

(195,723

)

(246,855

)

NET ASSETS

250,486

468,870

CAPITAL AND RESERVES

Called up share capital

11

110

110

Retained earnings

250,376

468,760

SHAREHOLDERS' FUNDS

250,486

468,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2026 and were signed on its behalf by:

J R Way - Director

D J Zollo - Director

1.	STATUTORY INFORMATION

IML (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Steel building

-

20% on reducing balance

Plant and machinery

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

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 items.Cost includes all direct costs and an appropriate proportion

of fixed and variable overheads and in the case of work in progress a proportion of attributable profit.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

4,000

AMORTISATION

At 1 December 2024

100

Amortisation for year

400

At 30 November 2025

500

NET BOOK VALUE

At 30 November 2025

3,500

At 30 November 2024

3,900

5.	TANGIBLE FIXED ASSETS

Steel

Plant and

Motor

Office

building

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2024

11,143

3,222,338

10,490

52,584

3,296,555

Additions

-

10,675

-

2,485

13,160

At 30 November 2025

11,143

3,233,013

10,490

55,069

3,309,715

DEPRECIATION

At 1 December 2024

5,438

1,613,630

4,098

25,343

1,648,509

Charge for year

1,141

275,295

1,598

6,987

285,021

At 30 November 2025

6,579

1,888,925

5,696

32,330

1,933,530

NET BOOK VALUE

At 30 November 2025

4,564

1,344,088

4,794

22,739

1,376,185

At 30 November 2024

5,705

1,608,708

6,392

27,241

1,648,046

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 December 2024

and 30 November 2025

2,452,110

DEPRECIATION

At 1 December 2024

1,115,178

Charge for year

227,278

At 30 November 2025

1,342,456

NET BOOK VALUE

At 30 November 2025

1,109,654

At 30 November 2024

1,336,932

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

464,950

1,059,141

Other debtors

7,658

4,417

Directors' current accounts

134,498

-

Prepayments

2,541

2,946

609,647

1,066,504

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

6,229

2

Other loans

5,000

15,000

Hire purchase contracts

383,765

514,259

Trade creditors

228,887

396,393

Corporation tax

40

40

Social security and other taxes

177,922

106,501

VAT

140,781

204,451

Other creditors

22,791

13,177

Invoice discounting advance

407,152

832,967

Directors' current accounts

-

7

Accruals

6,500

8,525

1,379,067

2,091,322

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

991,296

769,114

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

6,229

2

Hire purchase contracts

1,375,061

1,283,373

1,381,290

1,283,375

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

195,723

246,855

Deferred

tax

£

Balance at 1 December 2024

246,855

Credit to Statement of Income and Retained Earnings during year

(51,132

)

Balance at 30 November 2025

195,723

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

90

Ordinary

£1

90

90

10

Ordinary A

£1

10

10

9

Ordinary B

£1

9

9

1

Ordinary C

£1

1

1

110

110

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

£

D J Zollo

Balance outstanding at start of year

-

-

Amounts advanced

104,717

-

Amounts repaid

(37,468

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

67,249

-

J R Way

Balance outstanding at start of year

-

-

Amounts advanced

106,907

-

Amounts repaid

(39,658

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

67,249

-

Interest at the official rate of 2.25%/3.75% has been charged on the directors' loan.