Imagicle Ltd

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

1	Statutory information

Imagicle Ltd is a private company limited by share capital, registered in England and Wales, registration number 08880095. The registered office is Proximity House, Pixash Lane, Keynsham, Bristol, BS31 1TP, England.

2	Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

3	Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Presentation currency

The accounts are presented in £ sterling and rounded to the nearest £.

Going concern

The director has reviewed forecasts and budgets for the forthcoming periods. These forecasts take account of reasonably possible changes in trading performance and the estimated impacts of the wider economic uncertainties. Based on these forecasts, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the 12-month period following the approval of these financial statements. Therefore, the Board continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Imagicle Ltd

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

Pensions costs

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

Foreign exchange

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Tangible fixed assets and depreciation

Tangible assets are included at costless depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Computer equipment	25% on cost

Imagicle Ltd

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

4	Tangible fixed assets

	Computer equipment  £
Cost or valuation
At 1 January 2024	1,920
At 31 December 2024	1,920
Depreciation
At 1 January 2024	1,920
At 31 December 2024	1,920
Net book value
At 31 December 2024	-
At 31 December 2023	-

5

Debtors

	2024 £	2023 £
Amounts falling due within one year
Receivable from a related party	27,288	-
Other debtors	-	-
	27,288	-

6	Creditors: amounts falling due within one year

	2024 £	2023 £
VAT	1,060	1,807
Trade creditors	3,994	20
Amounts owed to group undertakings and other participating interests	51,085	27,288
Taxes and social security	-	8,269
Accruals	7,500	7,000
	63,639	44,384

Imagicle Ltd

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

7	Controlling party

With regard to the parent’s understanding of the largest and smallest group within which the subsidiary belongs and for which group accounts are prepared:

Imagicle SPA

Via Fontana 22-20122, Milano, Italy.

In respect of the ultimate holding company:

Zucchetti Group Spa Via Solferino 1 Lodi, Lodi, 26900, Italy.

8	Staff numbers

During the year the average number of employees was 0 (2023 - 1).

9	Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

• The audit report was unqualified.
• The name of the senior statutory auditor who signed the audit report on 24 September 2025 was David Wright BSc FCA.
• The auditor was Corrigan Accountants Limited.