Company registration number 07868347 (England and Wales)
IMAGINE CORPORATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
IMAGINE CORPORATION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
IMAGINE CORPORATION LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
102,803
131,479
Current assets
Stocks
-
53,250
Debtors
5
199,342
95,218
Cash at bank and in hand
105,266
49,210
304,608
197,678
Creditors: amounts falling due within one year
6
(96,253)
(88,441)
Net current assets
208,355
109,237
Total assets less current liabilities
311,158
240,716
Creditors: amounts falling due after more than one year
7
(123,348)
(144,297)
Provisions for liabilities
36,689
1,410
Net assets
224,499
97,829
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
224,399
97,729
Total equity
224,499
97,829
IMAGINE CORPORATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 1 September 2025
Mr S D Allen
Director
Company registration number 07868347 (England and Wales)
IMAGINE CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Imagine Corporation Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Richfield Place, Richfield Avenue, Reading, Berkshire, RG1 8EQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for business management and consultancy services. Turnover is shown net of VAT and discounts.

Where work has not been fully completed at the period end, this is shown as work in progress.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Reducing balance
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

IMAGINE CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company only enters into Basic financial instrument transactions.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

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 the tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

IMAGINE CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

IMAGINE CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
2
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
29,444
173,690
203,134
Additions
5,591
-
0
5,591
At 31 December 2024
35,035
173,690
208,725
Depreciation and impairment
At 1 January 2024
24,212
47,443
71,655
Depreciation charged in the year
2,705
31,562
34,267
At 31 December 2024
26,917
79,005
105,922
Carrying amount
At 31 December 2024
8,118
94,685
102,803
At 31 December 2023
5,232
126,247
131,479
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
73,250
82,105
Other debtors
124,692
11,345
Prepayments and accrued income
1,400
1,768
199,342
95,218
IMAGINE CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
3,203
3,203
Obligations under finance leases
20,678
21,231
Trade creditors
114
99
Corporation tax
64,014
49,910
Other taxation and social security
5,456
10,066
Other creditors
298
1,442
Accruals and deferred income
2,490
2,490
96,253
88,441
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,591
8,308
Obligations under finance leases
116,757
135,989
123,348
144,297
2024-12-31 2024-01-01 false false false 02 September 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr S D Allen 07868347 2024-01-01 2024-12-31 07868347 2024-12-31 07868347 2023-12-31 07868347 core:PlantMachinery 2024-12-31 07868347 core:MotorVehicles 2024-12-31 07868347 core:PlantMachinery 2023-12-31 07868347 core:MotorVehicles 2023-12-31 07868347 core:ShareCapital 2024-12-31 07868347 core:ShareCapital 2023-12-31 07868347 core:RetainedEarningsAccumulatedLosses 2024-12-31 07868347 core:RetainedEarningsAccumulatedLosses 2023-12-31 07868347 bus:Director1 2024-01-01 2024-12-31 07868347 core:PlantMachinery 2024-01-01 2024-12-31 07868347 core:MotorVehicles 2024-01-01 2024-12-31 07868347 2023-01-01 2023-12-31 07868347 core:PlantMachinery 2023-12-31 07868347 core:MotorVehicles 2023-12-31 07868347 2023-12-31 07868347 core:CurrentFinancialInstruments 2024-12-31 07868347 core:CurrentFinancialInstruments 2023-12-31 07868347 core:Non-currentFinancialInstruments 2024-12-31 07868347 core:Non-currentFinancialInstruments 2023-12-31 07868347 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07868347 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07868347 bus:FRS102 2024-01-01 2024-12-31 07868347 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07868347 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP