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REGISTERED NUMBER: 12382879 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

IMAGINE TRANSFORMATIONS LTD

IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

IMAGINE TRANSFORMATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: S A Maczka
B A Maczka





REGISTERED OFFICE: Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ





REGISTERED NUMBER: 12382879 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,620 9,240
Tangible assets 5 49,667 62,336
54,287 71,576

CURRENT ASSETS
Stocks 55,342 56,379
Debtors 6,532 8,119
Cash at bank 10,942 9,211
72,816 73,709
CREDITORS
Amounts falling due within one year 113,786 100,790
NET CURRENT LIABILITIES (40,970 ) (27,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,317

44,495

CREDITORS
Amounts falling due after more than one
year

-

(35,220

)

PROVISIONS FOR LIABILITIES (12,500 ) -
NET ASSETS 817 9,275

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 717 9,175
SHAREHOLDERS' FUNDS 817 9,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




B A Maczka - Director



S A Maczka - Director


IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Imagine Transformations Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on reducing balance
Motor vehicles - 20% on reducing balance

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

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 23,100
AMORTISATION
At 1 February 2023 13,860
Amortisation for year 4,620
At 31 January 2024 18,480
NET BOOK VALUE

At 31 January 2024 4,620
At 31 January 2023 9,240

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 100,068
DEPRECIATION
At 1 February 2023 37,732
Charge for year 12,669
At 31 January 2024 50,401
NET BOOK VALUE
At 31 January 2024 49,667
At 31 January 2023 62,336

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,240 9,240
Between one and five years 8,470 17,710
17,710 26,950

IMAGINE TRANSFORMATIONS LTD (REGISTERED NUMBER: 12382879)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,333 54,007

The bank loans are secured against the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary 1 75 75
25 "A" ordinary 1 25 25
100 100

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IMAGINE TRANSFORMATIONS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Imagine Transformations Ltd for the year ended 31 January 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Imagine Transformations Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Imagine Transformations Ltd and state those matters that we have agreed to state to the Board of Directors of Imagine Transformations Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Imagine Transformations Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Imagine Transformations Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Imagine Transformations Ltd. You consider that Imagine Transformations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Imagine Transformations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


18 October 2024