Registered number
08055802
ImagineIT Solutions Ltd
Abbreviated Accounts
31 May 2015
ImagineIT Solutions Ltd
Registered number: 08055802
Abbreviated Balance Sheet
as at 31 May 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 2,035 1,281
Current assets
Cash at bank and in hand 7,225 11,790
Creditors: amounts falling due within one year (9,178) (12,173)
Net current liabilities (1,953) (383)
Net assets 82 898
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 81 897
Shareholder's funds 82 898
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
R Shearmon
Director
Approved by the board on 3 December 2015
ImagineIT Solutions Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value of work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% on reducing balance
Motor vehicles 25% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Tangible fixed assets £
Cost
At 1 June 2014 1,602
Additions 1,262
At 31 May 2015 2,864
Depreciation
At 1 June 2014 321
Charge for the year 508
At 31 May 2015 829
Net book value
At 31 May 2015 2,035
At 31 May 2014 1,281
3 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £0.10 each 10 1 1
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