REGISTERED NUMBER: 15492137 (England and Wales)

Unaudited Financial Statements

for the Period 15 February 2024 to 31 March 2025

for

Imagine This Creative Studio Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Walsham

R D Walsham

REGISTERED OFFICE:

2 Brunswick Terrace, The Knoll

Beckenham

BR3 5LL

REGISTERED NUMBER:

15492137 (England and Wales)

ACCOUNTANTS:

We`ll Mind Your Own Business LTD

39 Long Acre

London

WC2E 9LG

CURRENT ASSETS

Stocks

4

183,528

Debtors

5

88,848

Cash at bank

274,170

546,546

CREDITORS

Amounts falling due within one year

6

489,136

NET CURRENT ASSETS

57,410

TOTAL ASSETS LESS CURRENT LIABILITIES

57,410

CAPITAL AND RESERVES

Called up share capital

8

Retained earnings

57,402

57,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2026 and were signed on its behalf by:

T Walsham - Director

1.	STATUTORY INFORMATION

Imagine This Creative Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Programmes in progress at the year-end

For all productions, the stage of completion is dictated by the costs incurred to date relative to the overall production budget. Where productions are in progress at the year-end and where the services invoiced exceed the value of work done, the excess is shown as deferred income. In instances where programmes in progress at the year-end have not been fully invoiced relative to the stage of completion, the balance of income for the stage of completion is recognised as accrued income. Any expected losses arising on productions in progress are recognised immediately.

Production Revenue

Revenue is recognised to the extent it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably. Production revenue recognised is determined by reference to production costs incurred to date as a percentage of total expected costs. Overspends are recognised as soon as they arise and anticipated underspends are recognised on the completion of the programme.

Work in progress

Work in progress relates to direct production costs incurred on productions in progress at the reporting date.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Production costs are released to the profit and loss account on the delivery of programmes to the broadcaster, at which time the turnover is also recognised.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Cost recognition

Development Costs

Development costs are generally expensed as incurred to the income statement. Where development funding has been received, the revenue is recognised on a cost-plus basis. However, if a firm commitment exists which indicates that current and future expenses will be recoverable, development costs are capitalised in the costs of a programme. These costs are capitalised in WIP as a part of a specific project expected to be set for production.

Production Costs Recognition

Productions costs are ordinarily accumulated by individual programmes in four chronological steps: acquisition of story rights; pre-production (which includes script development, costume design, set design and construction); principal photography (which includes shooting the production); and post-production (which includes sound synchronisation and editing); culminating in the completed master negative. All costs are capitalised to Work in Progress (WIP) until the point at which the WIP balance is recognised or consumed on the income statement, generally as delivery of the episodes occurs.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at fair value, net of any transaction costs, and subsequently measured at amortised cost determined using the effective interest method

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.

STOCKS

£

Work-in-progress

183,528

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

78,722

VAT

6,284

Prepayments and accrued income

3,842

88,848

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

15,922

Tax

28,261

Directors' loan accounts

87

Accruals and deferred income

444,866

489,136