Associated Interim Management Limited

Mr S P Ackland Mr M A Wilson

03997992 (England and Wales)

The Base, Dartford Business Park Victoria Road Dartford Kent DA1 5FS

Wellden Turnbull Limited Munro House Portsmouth Road Cobham Surrey KT11 1PP

Tangible assets

20,571 

26,311 

Investments

44,655 

42,098 

Debtors

372,448 

395,956 

Cash at bank and in hand

388,385 

528,853 

(202,575)

(143,961)

Deferred tax

(3,230)

(4,427)

Called up share capital

100 

100 

Revaluation reserve

5,585 

2,581 

Profit and loss account

614,569 

842,149 

For the year ending 5 April 2019 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.

Approved by the Board on 23 December 2019.

Mr S P Ackland Director Company Registration No. 03997992

Associated Interim Management Limited is a private company, limited by shares, registered in England and Wales, registration number 03997992. The registered office is The Base, Dartford Business Park, Victoria Road, Dartford, Kent, DA1 5FS.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised 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: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.

Fixtures & fittings

Computer equipment

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income and retained earnings.

Investments in subsidiaries are measured at cost less accumulated impairment. Unlisted investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in other comprehensive income via the revaluation reserve. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

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

Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

At cost 

At cost 

At cost 

At 6 April 2018

6,100 

21,426 

142,941 

170,467 

Additions

- 

- 

1,117 

1,117 

At 5 April 2019

At 6 April 2018

6,100 

15,116 

122,940 

144,156 

Charge for the year

- 

1,577 

5,280 

6,857 

At 5 April 2019

At 5 April 2019

At 5 April 2018

Valuation at 6 April 2018

42,098 

Fair value adjustments

2,557 

Valuation at 5 April 2019

Investments held at 5 April 2019 include listed company shares of £16,951 (2018 - £15,514) and unlisted investments of £27,704 (2018 - £26,584). Both listed and unlisted investments are held as fixed asset investments in the financial statements because the intention of management is to hold the investments for a period of more than one year. The revaluation reserve at the year end represents cumulative revaluations on unlisted investments. Fair value movements on listed investments have been recorded in the statement of income and retained earnings.

Trade debtors

150,456 

192,215 

Amounts due from group undertakings etc.

122,163 

121,239 

Accrued income and prepayments

19,810 

20,843 

Other debtors

80,019 

61,659 

Bank loans and overdrafts

- 

1,477 

Trade creditors

100,468 

50,092 

Taxes and social security

50,504 

56,034 

Other creditors

24,721 

24,506 

Loans from directors

12,466 

7,741 

Accruals

3,100 

4,111 

Deferred income

11,316 

- 

Accelerated capital allowances

Provision at start of year

4,427 

5,188 

Credited to the profit and loss account

(1,197)

(761)

Provision at end of year

Allotted, called up and fully paid:

100 Ordinary shares of £1 each

During the year the average number of employees was 24 (2018: 27).