Registered number
SC348036
Instant Image (Perth) Limited
Filleted Accounts
30 September 2023
Instant Image (Perth) Limited
Registered number: SC348036
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Current assets
Stocks 1,150 1,150
Debtors 5 26,088 28,410
Cash at bank and in hand 39,081 39,848
66,319 69,408
Creditors: amounts falling due within one year 6 (40,332) (41,090)
Net current assets 25,987 28,318
Net assets 25,987 28,318
Capital and reserves
Called up share capital 100 100
Profit and loss account 25,887 28,218
Shareholders' funds 25,987 28,318
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Robertson
Director
Approved by the board on 10 October 2023
Instant Image (Perth) Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 30,000
At 30 September 2023 30,000
Amortisation
At 1 October 2022 30,000
At 30 September 2023 30,000
Net book value
At 30 September 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 98,600
At 30 September 2023 98,600
Depreciation
At 1 October 2022 98,600
At 30 September 2023 98,600
Net book value
At 30 September 2023 -
5 Debtors 2023 2022
£ £
Trade debtors 24,843 27,165
Other debtors 1,245 1,245
26,088 28,410
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,479 7,179
Corporation tax 7,573 7,645
Other taxes and social security costs 4,388 6,374
Other creditors 19,892 19,892
40,332 41,090
Instant Image (Perth) Limited SC348036 false 2022-10-01 2023-09-30 2023-09-30 VT Final Accounts April 2022 G Robertson No description of principal activity SC348036 2021-10-01 2022-09-30 SC348036 core:WithinOneYear 2022-09-30 SC348036 core:ShareCapital 2022-09-30 SC348036 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC348036 2022-10-01 2023-09-30 SC348036 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC348036 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC348036 bus:Director40 2022-10-01 2023-09-30 SC348036 1 2022-10-01 2023-09-30 SC348036 2 2022-10-01 2023-09-30 SC348036 bus:FRS102 2022-10-01 2023-09-30 SC348036 bus:FullAccounts 2022-10-01 2023-09-30 SC348036 2023-09-30 SC348036 core:WithinOneYear 2023-09-30 SC348036 core:ShareCapital 2023-09-30 SC348036 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC348036 core:Goodwill 2023-09-30 SC348036 core:PlantMachinery 2023-09-30 SC348036 2022-09-30 SC348036 core:Goodwill 2022-09-30 SC348036 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure