Registration number: 00636727

Imagin International Limited

trading as Imagin International Limited

(Registration number: 00636727)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	47,209	74
Current assets
Stocks	6	3,997	54,050
Debtors	7	65,075	54,552
Cash at bank and in hand		31,466	56,810
		100,538	165,412
Prepayments and accrued income		2,485	(140,682)
Creditors: Amounts falling due within one year		(132,604)	(90,850)
Net current liabilities		(29,581)	(66,120)
Total assets less current liabilities		17,628	(66,046)
Creditors: Amounts falling due after more than one year		(82,239)	(82,518)
Accruals and deferred income		(103,749)	(9,993)
Net liabilities		(168,360)	(158,557)
Capital and reserves
Called up share capital	8	30,000	30,000
Share premium reserve		3,000	3,000
Capital redemption reserve		6,000	6,000
Retained earnings		(207,360)	(197,557)
Shareholders' deficit		(168,360)	(158,557)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Imagin International Limited

trading as Imagin International Limited

(Registration number: 00636727)
Abridged Balance Sheet as at 31 December 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

......................................... Mr Terry Hibbert Director

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 8 Trinity Hall Farm
Watling Street
Hockliffe
Bedfordshire
LU7 9PY

These financial statements were authorised for issue by the Board on 14 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	3 years straight line basis
Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	3 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4	Loss before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	3,582	755

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	22,850	-	22,850
Additions	2,766	47,950	50,716
At 31 December 2024	25,616	47,950	73,566
Depreciation
At 1 January 2024	22,776	-	22,776
Charge for the year	670	2,911	3,581
At 31 December 2024	23,446	2,911	26,357
Carrying amount
At 31 December 2024	2,170	45,039	47,209
At 31 December 2023	74	-	74

6

Stocks

	2024 £	2023 £
Work in progress	3,997	54,050

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8	Share capital

Allotted, called up and fully paid shares

Imagin International Limited

trading as Imagin International Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

	2024		2023
	No.	£	No.	£
Ordinary A of £1 each	19,500	19,500	19,500	19,500
Ordinary B of £1 each	1,500	1,500	1,500	1,500
Ordinary C of £1 each	4,500	4,500	4,500	4,500
Ordinary D of £1 each	1,500	1,500	1,500	1,500
Ordinary E of £1 each	3,000	3,000	3,000	3,000
	30,000	30,000	30,000	30,000