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Logo On Report
Registered Number: 14214307
England and Wales

 

 

 

OF MY IMAGINATION LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors Isabella Trani
Daniel Window
Registered Number 14214307
Registered Office United House
9 Pembridge Road
London
W11 3JY
Accountants Ward Williams Creatives Limited
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 13,654    1,310 
13,654    1,310 
Current assets      
Debtors 4 46,757    62,507 
Cash at bank and in hand 331,338    223,797 
378,095    286,304 
Creditors: amount falling due within one year 5 (86,677)   (95,846)
Net current assets 291,418    190,458 
 
Total assets less current liabilities 305,072    191,768 
Provisions for liabilities 6 (3,414)  
Net assets 301,658    191,768 
 

Capital and reserves
     
Called up share capital 120    120 
Profit and loss account 301,538    191,648 
Shareholders' funds 301,658    191,768 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
Daniel Window
Director
2
General Information
Of My Imagination Limited is a private company, limited by shares, registered in England and Wales, registration number 14214307, registration address United House, 9 Pembridge Road , London, W11 3JY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 August 2023 130    1,353    1,483 
Additions 4,738    12,302    17,040 
Disposals (130)     (130)
At 31 July 2024 4,738    13,655    18,393 
Depreciation
At 01 August 2023 33    140    173 
Charge for year 1,184    3,414    4,598 
On disposals (32)     (32)
At 31 July 2024 1,185    3,554    4,739 
Net book values
Closing balance as at 31 July 2024 3,553    10,101    13,654 
Opening balance as at 01 August 2023 97    1,213    1,310 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 36,097    62,507 
Accrued Income 7,416   
Directors Loan Account 2 2,897   
46,410    62,507 

4.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 347   
347   

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,189    6,563 
Corporation Tax 74,974    87,187 
Other Creditors 1   
Wages & Salaries Control Account 2,095   
Directors' Current Accounts 809    1,190 
Directors Loan Account 2   283 
VAT 7,609    623 
86,677    95,846 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,414   
3,414   

3