0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2,100 840 105 945 1,155 1,260 1,864,405 1,102,071 64,545 1,166,616 697,789 762,334 xbrli:pure xbrli:shares iso4217:GBP 08488672 2022-03-01 2023-02-28 08488672 2023-02-28 08488672 2022-02-28 08488672 2021-03-01 2022-02-28 08488672 2022-02-28 08488672 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 08488672 bus:Director1 2022-03-01 2023-02-28 08488672 core:WithinOneYear 2023-02-28 08488672 core:WithinOneYear 2022-02-28 08488672 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 08488672 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 08488672 core:MotorVehicles 2022-02-28 08488672 core:MotorVehicles 2022-03-01 2023-02-28 08488672 core:AfterOneYear 2023-02-28 08488672 core:AfterOneYear 2022-02-28 08488672 core:ShareCapital 2023-02-28 08488672 core:ShareCapital 2022-02-28 08488672 core:RetainedEarningsAccumulatedLosses 2023-02-28 08488672 core:RetainedEarningsAccumulatedLosses 2022-02-28 08488672 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 08488672 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 08488672 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 08488672 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-02-28 08488672 core:ImpairmentReversalProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2023-02-28 08488672 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-02-28 08488672 core:Non-currentFinancialInstruments 2023-02-28 08488672 core:Non-currentFinancialInstruments 2022-02-28 08488672 core:MotorVehicles 2022-02-28 08488672 bus:SmallEntities 2022-03-01 2023-02-28 08488672 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 08488672 bus:FullAccounts 2022-03-01 2023-02-28 08488672 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 08488672 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08488672 bus:OrdinaryShareClass1 2023-02-28 08488672 bus:OrdinaryShareClass1 2022-02-28 08488672 core:FurnitureFittingsToolsEquipment 2022-02-28 08488672 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 08488672 core:FurnitureFittingsToolsEquipment 2023-02-28
COMPANY REGISTRATION NUMBER: 08488672
IMAGINEER LONDON LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
IMAGINEER LONDON LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 7
IMAGINEER LONDON LIMITED
BALANCE SHEET
28 February 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
4
1,155
1,260
Tangible assets
5
2,215
2,719
Investments
6
697,789
762,334
------------
------------
701,159
766,313
Current assets
Debtors
7
2,004
2,004
Cash at bank and in hand
51,233
56,789
------------
------------
53,237
58,793
Creditors: amounts falling due within one year
8
( 202,129)
( 202,450)
------------
------------
Net current liabilities
( 148,892)
( 143,657)
------------
------------
Total assets less current liabilities
552,267
622,656
Creditors: amounts falling due after more than one year
9
( 501,416)
( 501,416)
------------
------------
Net assets
50,851
121,240
------------
------------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
50,751
121,140
------------
------------
Shareholders funds
50,851
121,240
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
IMAGINEER LONDON LIMITED
BALANCE SHEET (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
S M Sharp
Director
Company registration number: 08488672
IMAGINEER LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Mill Lane, Southwold, Suffolk, England, IP18 6HW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trade marks
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Trailer
-
10% reducing balance
Equipment
-
25% reducing balance or 33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Intangible assets
Trade marks
£
Cost
At 1 March 2022 and 28 February 2023
2,100
------------
Amortisation
At 1 March 2022
840
Charge for the year
105
------------
At 28 February 2023
945
------------
Carrying amount
At 28 February 2023
1,155
------------
At 28 February 2022
1,260
------------
5. Tangible assets
Trailer
Equipment
Total
£
£
£
Cost
At 1 March 2022
2,381
9,721
12,102
Additions
1,593
1,593
Disposals
( 2,381)
( 2,381)
------------
------------
------------
At 28 February 2023
11,314
11,314
------------
------------
------------
Depreciation
At 1 March 2022
1,484
7,899
9,383
Charge for the year
1,200
1,200
Disposals
( 1,484)
( 1,484)
------------
------------
------------
At 28 February 2023
9,099
9,099
------------
------------
------------
Carrying amount
At 28 February 2023
2,215
2,215
------------
------------
------------
At 28 February 2022
897
1,822
2,719
------------
------------
------------
6. Investments
Investments
£
Cost
At 1 March 2022 and 28 February 2023
1,864,405
------------
Impairment
At 1 March 2022
1,102,071
Impairment losses
64,545
------------
At 28 February 2023
1,166,616
------------
Carrying amount
At 28 February 2023
697,789
------------
At 28 February 2022
762,334
------------
Listed investments
Listed investments with a cost of £1,864,405 (2022: £1,864,405) are held by the company and had a market value of £697,789 at the end of the year (2022: £762,334).
7. Debtors
2023
2022
£
£
Corporation tax refund
2,004
2,004
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
122
505
Accruals and deferred income
1,900
1,900
Social security and other taxes
107
45
Director's loan account
200,000
200,000
------------
------------
202,129
202,450
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Director's loan account
501,416
501,416
------------
------------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
11. Related party transactions
Included in creditors is a loan from the director, S M Sharp , of £701,416 (2022: £701,416). This loan is unsecured and currently interest free. S M Sharp is a director of Adnams Plc from whom the company bought goods in the year in the amount of £Nil (2022: £133).
12. Control
The company is controlled by S M Sharp .