ACCOUNTS - Final Accounts

IMMERSIVE PUBLISHING LTD - Company Information

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Registered number: 12513619

IMMERSIVE PUBLISHING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2021

IMMERSIVE PUBLISHING LIMITED

REGISTERED NUMBER: 12513619

BALANCE SHEET

AS AT 31 MARCH 2021

	2021	2021
Note	£	£

FIXED ASSETS
Tangible assets	4		1,140
CURRENT ASSETS
Debtors: amounts falling due within one year	5	333
Cash at bank and in hand		20,058
		20,391
Creditors: amounts falling due within one year	6	(1,639)
NET CURRENT ASSETS			18,752

NET ASSETS			19,892

CAPITAL AND RESERVES
Called up share capital	7	100
Share premium account		49,985
Profit and loss account		(30,193)
		19,892

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

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IMMERSIVE PUBLISHING LIMITED

REGISTERED NUMBER: 12513619

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

V L Cooper

Director

Date: 29 November 2021

The notes on pages 3 to 5 form part of these financial statements.

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IMMERSIVE PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2021

1.	GENERAL INFORMATION

Immersive Publishing Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 12 Cook Close, Cambridge, CB4 1PH.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

DEVELOPMENT COSTS

App development costs are written off to the profit and loss account as incurred.

2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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IMMERSIVE PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2021

2.ACCOUNTING POLICIES (CONTINUED)

2.6

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration.

4.	TANGIBLE FIXED ASSETS

		Computer equipment
		£
	COST OR VALUATION
	At 12 March 2020	-
	Additions	1,520
	At 31 March 2021	1,520
	DEPRECIATION
	At 12 March 2020	-
	Charge for the period on owned assets	380
	At 31 March 2021	380
	NET BOOK VALUE
	At 31 March 2021	1,140

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IMMERSIVE PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2021

DEBTORS

					2021
					£


	Other debtors	248
	Called up share capital not paid	85
		333

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021
		£

	Other creditors	139
	Accruals and deferred income	1,500
		1,639

7.	SHARE CAPITAL
		2021
		£

		ALLOTTED, CALLED UP AND FULLY PAID

		15 Ordinary shares of £1 each	15

		ALLOTTED, CALLED UP AND PARTLY PAID

		65 Ordinary shares of £1 each	65
		20 Non-Voting shares of £1 each	20

			85

During the period the Company issued 65 Ordinary £1 and 20 Non-Voting £1 shares at par. In addition 15 Ordinary £1 shares were issued for a total consideration of £50,000.

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