I M & M Limited

	Page
Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 03515496

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,502		2,007

			10,502		2,007
CURRENT ASSETS
Stocks	5	536,403		417,289
Debtors	6	1,988,244		2,066,903
Cash at bank and in hand		169,756		214,178

		2,694,403		2,698,370
Creditors: Amounts Falling Due Within One Year	7	(922,007 )		(792,619 )

NET CURRENT ASSETS (LIABILITIES)			1,772,396		1,905,751

TOTAL ASSETS LESS CURRENT LIABILITIES			1,782,898		1,907,758

Creditors: Amounts Falling Due After More Than One Year	8		(882,392 )		(882,392 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,587 )		-

NET ASSETS			898,919		1,025,366

CAPITAL AND RESERVES
Called up share capital	9		12,250		12,250
Share premium account			55,109		55,109
Capital redemption reserve			1,750		1,750
Profit and Loss Account			829,810		956,257

SHAREHOLDERS' FUNDS			898,919		1,025,366

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I M & M Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr N J Westerman

Director

10/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

I M & M Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03515496 . The registered office is Trident House, Baxter Road, Sheffield, South Yorkshire, S6 1JF.

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 section 1A Small Entities "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, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met, as described below.

The company provides goods and services relating to supply and service solutions for portable and fixed gas detection, breathing apparatus, lighting, UTI / pressure / temperature calibration and most other operational, related aspects of vessel safety management, these services are provided on a time and material basis or as a fixed price contract.

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:

Motor Vehicles	25% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	33% on cost

2.4. 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 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.

2.5. Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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I M & M Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. 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.

2.8. Estimates and Judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2024: 17)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	16,734	23,452	64,805	104,991
Additions	-	-	14,407	14,407
Disposals	(16,734 )	-	-	(16,734 )

As at 31 March 2025	-	23,452	79,212	102,664

Depreciation
As at 1 April 2024	16,734	22,748	63,502	102,984
Provided during the period	-	292	5,619	5,911
Disposals	(16,733 )	-	-	(16,733 )

As at 31 March 2025	1	23,040	69,121	92,162

Net Book Value
As at 31 March 2025	(1 )	412	10,091	10,502

As at 1 April 2024	-	704	1,303	2,007

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I M & M Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

5. Stocks

	2025	2024
	£	£
Stock	536,403	417,289

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	564,334	593,668
Amounts owed by group undertakings	1,226,688	1,208,827
Other debtors	197,222	264,408

	1,988,244	2,066,903

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	772,207	650,726
Other creditors	85,307	55,705
Taxation and social security	64,493	86,188

	922,007	792,619

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

	2025	2024
	£	£
Amounts owed to group undertakings	882,392	882,392

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	12,250	12,250

10. Ultimate Controlling Party

The company's ultimate controlling party is IM&M (EOT) Limited by virtue of his ownership of 100% of the issued share capital in the company.

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