Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueIMAJ Limited086311462014-12-31-198992-19890488-198904-198904-53723465043611320227828942075954338330338330Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents the realisable value of work undertaken during the period, exclusive of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-Straight line 5 years
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Going concern
Attention is drawn to the insolvent position of the company's balance sheet. These accounts have been prepared on the going concern basis, on the understanding that the director and shareholders will continue to financially support the company for the forseeable future and related parties have agreed not to recall the loan in the short term.Plant & MachineryMethod for Plant & equipment0.0000EquipmentMethod for Equipment0.0000Leasehold PropertyMethod for Leasehold property0.0000WebsiteMethod for Fixed asset 80.00005555472089472089133759133759472094472094133764133764Ordinary18888Ordinary188888888 Ordinary £1 shares were issued during the period at par value.
2015-04-27B T Glentruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureIMAJ Limited2013-07-302014-12-31IMAJ Limited2012-08-012013-07-29IMAJ Limited2012-07-31IMAJ Limited2013-07-29IMAJ Limited2013-07-29IMAJ Limited2014-12-31 2015-04-29
