IMKMS Limited - Abbreviated accounts 16.3

IMKMS Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: SC478448(Scotland)











Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

IMKMS Limited

IMKMS Limited (Registered number: SC478448)






Contents of the Abbreviated Accounts
for the year ended 31 August 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

IMKMS Limited

Company Information
for the year ended 31 August 2016







DIRECTORS: I A Smith
Mrs M A Smith
M Smith
Mrs K Smith





REGISTERED OFFICE: 20 Bon Accord Square
Aberdeen
Grampian
AB11 6DJ





REGISTERED NUMBER: SC478448(Scotland)





ACCOUNTANTS: Grampian Accounting
3 Prospect Place
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6SY

IMKMS Limited (Registered number: SC478448)

Abbreviated Balance Sheet
31 August 2016

31.8.16 31.8.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 90,923 99,665
Tangible assets 3 21,281 28,990
112,204 128,655

CURRENT ASSETS
Stocks 10,702 8,706
Debtors 1,193 2,413
Cash at bank and in hand 87,491 102,604
99,386 113,723
CREDITORS
Amounts falling due within one year 205,521 198,500
NET CURRENT LIABILITIES (106,135 ) (84,777 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,069

43,878

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 5,969 43,778
SHAREHOLDERS' FUNDS 6,069 43,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 30 May 2017and were signed on its behalf by:




I A Smith- Director


IMKMS Limited (Registered number: SC478448)

Notes to the Abbreviated Accounts
for the year ended 31 August 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2015
and 31 August 2016 104,911
AMORTISATION
At 1 September 2015 5,246
Amortisation for year 8,742
At 31 August 2016 13,988
NET BOOK VALUE

At 31 August 2016 90,923
At 31 August 2015 99,665

IMKMS Limited (Registered number: SC478448)

Notes to the Abbreviated Accounts - continued
for the year ended 31 August 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2015 32,100
Additions 383
At 31 August 2016 32,483
DEPRECIATION
At 1 September 2015 3,110
Charge for year 8,092
At 31 August 2016 11,202
NET BOOK VALUE
At 31 August 2016 21,281
At 31 August 2015 28,990

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.16 31.8.15
value: £    £   
100 Ordinary 1 100 100