REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED |
IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED (REGISTERED NUMBER: 03418674) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 4 |
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IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
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BANKERS: |
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31 King Street |
Leeds |
West Yorkshire |
LS1 2HL |
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SOLICITORS: |
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252 Upper Third Street |
Grafton Gate East |
Central Milton Keynes |
MK9 1DZ |
IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED (REGISTERED NUMBER: 03418674) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were authorised for issue by the Board of Directors and authorised for issue on
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IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED (REGISTERED NUMBER: 03418674) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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IMS Labels and Packaging Solutions Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Significant judgements and estimates |
No significant judgements have had to be made by management in preparing these financial statements. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures, fittings & equipment | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
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Amounts in respect of defined contributions plans are recognised as an expense as they are incurred. |
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Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. |
IMS LABELS AND PACKAGING SOLUTIONS |
LIMITED (REGISTERED NUMBER: 03418674) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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3. | EMPLOYEES |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Fixtures, |
Short | fittings | Computer |
leasehold | & equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Accrued expenses |
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7. | RELATED PARTY DISCLOSURES |
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The controlling party is SMB Print Ltd, a company incorporated in Ireland which owns 72.5% of shares in IMS Labels and Packaging Solutions Limited. |
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At the year end IMS Labels and Packaging Solutions Limited were owed £9,996 by SMB Print Limited which is included in trade debtors. |