IMAGINEERS_LTD - Accounts

IMAGINEERS LIMITED - Company Information

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Company Registration No. 01917492 (England and Wales)

IMAGINEERS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

IMAGINEERS LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

IMAGINEERS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

94,583

113,351

Current assets

Stocks

54,728

44,773

Debtors

136,536

164,578

Cash at bank and in hand

75,949

28,748

267,213

238,099

Creditors: amounts falling due within one year

(144,403)

(135,188)

Net current assets

122,810

102,911

Total assets less current liabilities

217,393

216,262

Creditors: amounts falling due after more than one year

(12,670)

(31,675)

Provisions for liabilities

(16,202)

(19,360)

188,521

165,227

Capital and reserves

Called up share capital

Profit and loss account

188,517

165,223

Shareholders' funds

188,521

165,227

IMAGINEERS LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 2 September 2016

G Cooper

Director

Company Registration No. 01917492

IMAGINEERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Plant and machinery

20% on reducing balance

Computer equipment

33% on reducing balance

Fixtures, fittings & equipment

15% on reducing balance

Motor vehicles

25% on reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

IMAGINEERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

509,745

Additions

5,347

At 31 December 2015

515,092

Depreciation

At 1 January 2015

396,396

Charge for the year

24,113

At 31 December 2015

420,509

Net book value

At 31 December 2015

94,583

At 31 December 2014

113,351

Creditors

Included within creditors are secured debts totalling £31,675 (2014: £53,096).

Share capital

2015

2014

Allotted, called up and fully paid

4 Ordinary shares of £1 each