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Registered number: 08724403
Imagine Building Services Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
Coopers&Co
Thistledown Barn Holcot Lane
Sywell
Northampton
NN6 0BG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 08724403
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 118,645 171,516
Investment Properties 5 894,933 894,933
Investments 6 14,375 14,375
1,027,953 1,080,824
CURRENT ASSETS
Debtors 1,214,823 277,686
Cash at bank and in hand 63,242 338,868
1,278,065 616,554
Creditors: Amounts Falling Due Within One Year (270,675 ) (256,413 )
NET CURRENT ASSETS (LIABILITIES) 1,007,390 360,141
TOTAL ASSETS LESS CURRENT LIABILITIES 2,035,343 1,440,965
Creditors: Amounts Falling Due After More Than One Year (848,019 ) (208,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,259 ) (29,401 )
NET ASSETS 1,168,065 1,202,731
CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 10 226,828 226,828
Profit and Loss Account 941,236 975,902
SHAREHOLDERS' FUNDS 1,168,065 1,202,731
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Page 2
For the year ending 30 June 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 Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr S Howard
Director
19th February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Imagine Building Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08724403 . The registered office is 23 Watering Lane, Collingtree, Northampton, NN4 0NJ.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 10% Striaght line
Motor Vehicles 25% Striaght line
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Striaght line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. 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.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees during the year was: 12 (2023: 10)
12 10
4. Tangible Assets
Total
£
Cost
As at 1 July 2023 380,498
Additions 2,721
As at 30 June 2024 383,219
Depreciation
As at 1 July 2023 208,982
Provided during the period 55,592
As at 30 June 2024 264,574
Net Book Value
As at 30 June 2024 118,645
As at 1 July 2023 171,516
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 894,933
Depreciation and impairment -
As at 30 June 2024 894,933
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Page 5
6. Investments
Total
£
Cost
As at 1 July 2023 14,375
As at 30 June 2024 14,375
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 14,375
As at 1 July 2023 14,375
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,553 15,367
Later than one year and not later than five years 21,759 42,186
30,312 57,553
30,312 57,553
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Scott Howard 52,962 29,552 55,707 - 26,807
The above loan is unsecured and repayable on demand. Interest is charged at the rate of 2.5%.
10. Reserves
Fair Value Reserve
£
As at 1 July 2023 226,828
As at 30 June 2024 226,828
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