| The Art Imaginarium Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract and is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
over 3 years |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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A 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 properly show where the tax rate that applies to the sale of the asset is used. Current tax assets and liabilities are not discounted. |
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| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 3 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
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Other debtors |
12,660 |
|
- |
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| 4 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
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Trade creditors |
24,683 |
|
29,895 |
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Taxation and social security costs |
11,204 |
|
3,156 |
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Other creditors |
2,400 |
|
1,275 |
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|
38,287 |
|
34,326 |
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Included in Other debtors is £(12,660) owing from the director to the company and in Other creditors for 2025 is £165 owing to the director. This loan is expected to be repaid within 9 months of the year end. |
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| 5 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Ms. C. Embleton |
|
Directors current account |
(165) |
|
46,825 |
|
(34,000) |
|
12,660 |
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(165) |
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46,825 |
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(34,000) |
|
12,660 |
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| 6 |
Controlling party |
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The company is controlled by the director who owns the entire share capital of the company. |
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| 7 |
Other information |
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The Art Imaginarium Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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c/o Shenkers, Devonshire House |
|
Manor Way |
|
Borehamwood |
|
Hertfordshire |
|
WD6 1QQ |