Registered number
11869759
Imagination Village Ltd
Filleted Accounts
31 March 2024
Imagination Village Ltd
Registered number: 11869759
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,682 11,333
Current assets
Cash at bank and in hand 7,443 8,889
Creditors: amounts falling due within one year 4 (1,487) (11,992)
Net current assets/(liabilities) 5,956 (3,103)
Total assets less current liabilities 22,638 8,230
Creditors: amounts falling due after more than one year 5 (52,864) (34,466)
Net liabilities (30,226) (26,236)
Capital and reserves
Called up share capital 2 2
Profit and loss account (30,228) (26,238)
Shareholders' funds (30,226) (26,236)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs C Hoey
Director
Approved by the board on 23 December 2024
Imagination Village Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 21,822
Additions 9,518
At 31 March 2024 31,340
Depreciation
At 1 April 2023 10,489
Charge for the year 4,169
At 31 March 2024 14,658
Net book value
At 31 March 2024 16,682
At 31 March 2023 11,333
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,168 4,120
Other creditors (3,681) 7,872
1,487 11,992
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 52,864 34,466
6 Other information
Imagination Village Ltd is a private company limited by shares and incorporated in England. Its registered office is:
39B York Road
Hartlepool
TS26 8AH
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