2024-01-012024-12-312024-12-31false09010540THE IMAGINAIRE ONLINE 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THE IMAGINAIRE ONLINE LTD

Registered Number
09010540
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

THE IMAGINAIRE ONLINE LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

DEAN, Sebastian Karl Peter

Registered Address

7 Edison Village
Nottingham Science Park
Nottingham
NG7 2RF

Registered Number

09010540 (England and Wales)
THE IMAGINAIRE ONLINE LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets356,13569,809
56,13569,809
Current assets
Debtors120,425108,149
Cash at bank and on hand170,33183,622
290,756191,771
Creditors amounts falling due within one year4(148,341)(46,115)
Net current assets (liabilities)142,415145,656
Total assets less current liabilities198,550215,465
Creditors amounts falling due after one year5(54,532)(70,681)
Provisions for liabilities7(12,833)-
Net assets131,185144,784
Capital and reserves
Called up share capital11
Profit and loss account131,184144,783
Shareholders' funds131,185144,784
The financial statements were approved and authorised for issue by the Director on 17 March 2025, and are signed on its behalf by:
DEAN, Sebastian Karl Peter
Director
Registered Company No. 09010540
THE IMAGINAIRE ONLINE LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings-3
Vehicles25-
Office Equipment-1
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year65
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 2417,53660,8408,38986,765
Additions2,297-4,3556,652
At 31 December 2419,83360,84012,74493,417
Depreciation and impairment
At 01 January 247,3071,2608,38916,956
Charge for year4,43314,89599820,326
At 31 December 2411,74016,1559,38737,282
Net book value
At 31 December 248,09344,6853,35756,135
At 31 December 2310,22959,580-69,809
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,9141,409
Bank borrowings and overdrafts5,7436,669
Taxation and social security37,61228,470
Finance lease and HP contracts9,5689,567
Other creditors1,060-
Accrued liabilities and deferred income88,444-
Total148,34146,115
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,82832,409
Other creditors28,70438,272
Total54,53270,681
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts28,70438,272
The company was held under obligation of an HP agreement for 60 months at the year end with a total liability of £38,272 (£28,704 of which was due after more than one year).
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,833-
Total12,833-
8.Related party transactions
During the year interest free loans were made available to the business by directors of £87 (2024 £nil). There were also interest free loans to associated companies totalling £77,819 at the year end (2024 - £77,819).