Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05018673 Mrs Julie Callaghan Steven Callaghan Mrs Julie Callaghan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05018673 2023-02-28 05018673 2024-02-29 05018673 2023-03-01 2024-02-29 05018673 frs-core:Non-currentFinancialInstruments 2024-02-29 05018673 frs-core:ComputerEquipment 2023-03-01 2024-02-29 05018673 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05018673 frs-core:MotorVehicles 2023-03-01 2024-02-29 05018673 frs-core:PlantMachinery 2023-03-01 2024-02-29 05018673 frs-core:ShareCapital 2024-02-29 05018673 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05018673 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05018673 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 05018673 frs-bus:SmallEntities 2023-03-01 2024-02-29 05018673 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05018673 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05018673 frs-bus:Director1 2023-03-01 2024-02-29 05018673 frs-bus:Director2 2023-03-01 2024-02-29 05018673 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05018673 frs-countries:EnglandWales 2023-03-01 2024-02-29 05018673 2022-02-28 05018673 2023-02-28 05018673 2022-03-01 2023-02-28 05018673 frs-core:Non-currentFinancialInstruments 2023-02-28 05018673 frs-core:ShareCapital 2023-02-28 05018673 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05018673
Imagination Displays Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Ashdown Price Chartered Accountants
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 05018673
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,625 65,472
69,625 65,472
CURRENT ASSETS
Debtors 35,062 44,423
Cash at bank and in hand 149,917 66,950
184,979 111,373
Creditors: Amounts Falling Due Within One Year (114,500 ) (107,266 )
NET CURRENT ASSETS (LIABILITIES) 70,479 4,107
TOTAL ASSETS LESS CURRENT LIABILITIES 140,104 69,579
Creditors: Amounts Falling Due After More Than One Year (18,597 ) (22,173 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,406 ) (12,440 )
NET ASSETS 104,101 34,966
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 104,001 34,866
SHAREHOLDERS' FUNDS 104,101 34,966
Page 1
Page 2
For the year ending 29 February 2024 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.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Steven Callaghan
Director
18/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Imagination Displays Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05018673 . The registered office is 30 Osborne Drive, Fleet, Hampshire, GU52 7LL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 170,984
Additions 36,982
Disposals (31,200 )
As at 29 February 2024 176,766
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 March 2023 105,512
Provided during the period 12,719
Disposals (11,090 )
As at 29 February 2024 107,141
Net Book Value
As at 29 February 2024 69,625
As at 1 March 2023 65,472
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4