Imogen Distribution Limited Filleted accounts for Companies House (small and micro)

IMOGEN DISTRIBUTION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08866477

Imogen Distribution Limited

Filleted Unaudited Financial Statements

31 January 2022

Imogen Distribution Limited

Financial Statements

Year ended 31 January 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Imogen Distribution Limited

Statement of Financial Position

31 January 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		5,102	9,945

Current assets

Debtors	6	5,000	17,291
Cash at bank and in hand		513,397	496,620
		---------	---------
		518,397	513,911

Creditors: amounts falling due within one year	7	53,786		57,222
		---------		---------
Net current assets			464,611	456,689
			---------	---------
Total assets less current liabilities			469,713	466,634
			---------	---------
Net assets			469,713	466,634
			---------	---------

Capital and reserves

Called up share capital	10	10
Profit and loss account	469,703	466,624
	---------	---------
Shareholders funds	469,713	466,634
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2022 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Imogen Distribution Limited

Statement of Financial Position (continued)

31 January 2022

These financial statements were approved by the board of directors and authorised for issue on 10 March 2022 , and are signed on behalf of the board by:

Mr B D Stubley

Director

Company registration number: 08866477

Imogen Distribution Limited

Notes to the Financial Statements

Year ended 31 January 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	20% straight line
Fixtures and fittings	-	20% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2021: 4 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 February 2021 and 31 January 2022	20,374	407	4,811	25,592
	--------	----	-------	--------
Depreciation
At 1 February 2021	11,649	243	3,755	15,647
Charge for the year	4,075	81	687	4,843
	--------	----	-------	--------
At 31 January 2022	15,724	324	4,442	20,490
	--------	----	-------	--------
Carrying amount
At 31 January 2022	4,650	83	369	5,102
	--------	----	-------	--------
At 31 January 2021	8,725	164	1,056	9,945
	--------	----	-------	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	5,000	10,000
Other debtors	–	7,291
	-------	--------
	5,000	17,291
	-------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	–	30
Corporation tax	21,578	20,285
Social security and other taxes	195	414
Other creditors	32,013	36,493
	--------	--------
	53,786	57,222
	--------	--------

8. Related party transactions

At the year end the company owed the directors £30,513 (2021: £34,993). During the year, interest of £2,000 (2021: £2,000) was charged by the directors to the company.