IMS Independent Mortgage Solutions Limited


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Registered number: 06745929
IMS Independent Mortgage Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2017
VT Accountancy

Chartered Certified Accountants

Unit E5
Telford Road
Bicester
Oxon
OX26 4LD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Balance Sheet
Registered number: 06745929
2017 2016
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 6 674 -
674 -
CURRENT ASSETS
Debtors 7 182,237 141,773
Cash at bank and in hand 15,749 13,184
197,986 154,957
Creditors: Amounts Falling Due Within One Year 8 (17,582 ) (18,804 )
NET CURRENT ASSETS (LIABILITIES) 180,404 136,153
TOTAL ASSETS LESS CURRENT LIABILITIES 181,078 136,153
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (135 ) -
NET ASSETS 180,943 136,153
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and loss account 180,942 136,152
SHAREHOLDERS' FUNDS 180,943 136,153
Page 1
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities
  • The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges her 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.
On behalf of the board
Mrs Michelle Niziol
02/05/2017

The notes on pages 4 to 6 form part of these financial statements.
Page 2
Statement of Changes in Equity
Share Capital Profit & Loss Account Total
£ £ £
As at 1 April 2015 1 48,433 48,434
Profit for the year and total comprehensive income - 152,719 152,719
Dividends paid - (65,000) (65,000)
As at 31 March 2016 and 1 April 2016 1 136,152 136,153
Profit for the year and total comprehensive income - 134,390 134,390
Dividends paid - (89,600) (89,600)
As at 31 March 2017 1 180,942 180,943
Page 3
Notes to the Unaudited Accounts
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
1.4. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2017 2016
£ £
Wages and salaries 47,320 42,722
47,320 42,722
4. Average number of employees
Average number of employees, including directors, during the year was as follows:
2017 2016
Office and administration 3 3
3 3
Page 4
6. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2016 6,785 13,930 20,715
Additions - 899 899
As at 31 March 2017 6,785 14,829 21,614
Depreciation
As at 1 April 2016 6,785 13,930 20,715
Provided during the period - 225 225
As at 31 March 2017 6,785 14,155 20,940
Net Book Value
As at 31 March 2017 - 674 674
As at 1 April 2016 - - -
7. Debtors
2017 2016
£ £
Due within one year
Trade debtors - 42,972
Prepayments and accrued income - 1,016
Amounts owed by group undertakings 182,237 97,785
182,237 141,773
8. Creditors: Amounts Falling Due Within One Year
2017 2016
£ £
Trade creditors 1,996 2,149
Corporation tax 14,901 16,655
Director's loan account 685 -
17,582 18,804
Page 5
9. Deferred Taxation
2017 2016
£ £
As at 1 April 2016 - 316
Deferred taxation 135 (316 )
Deferred tax 135 -
The provision for deferred taxation is made up of accelerated capital allowances
10. Share Capital
Value Number 2017 2016
Allotted, called up and fully paid £ £ £
Ordinary shares 1.000 1 1 1
11. Dividends
2017 2016
£ £
On equity shares:
Final dividend paid 89,600 65,000
89,600 65,000
12. Related Party Transactions
13. Ultimate Controlling Party
The company's ultimate controlling party is IMS Solutions Holding Limited by virtue of their ownership of 100% of the issued share capital in the company.
14. General Information
IMS Independent Mortgage Solutions Limited Registered number 06745929 is a limited by shares company incorporated in England & Wales. The Registered Office is 6 Deans Court, Bicester, Oxon, OX26 2RD.
Page 6