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REGISTERED NUMBER: SC214703 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Express Image Limited

Express Image Limited (Registered number: SC214703)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Express Image Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: M Kane





REGISTERED OFFICE: Pavilion 1 Finnieston Business Park
Minerva Way
Glasgow
G3 8AU





REGISTERED NUMBER: SC214703 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Express Image Limited (Registered number: SC214703)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,600 40,048

CURRENT ASSETS
Stocks 3,200 3,200
Debtors 5 301,898 355,357
Cash at bank and in hand 19,869 46,866
324,967 405,423
CREDITORS
Amounts falling due within one year 6 150,420 171,548
NET CURRENT ASSETS 174,547 233,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,147

273,923

CREDITORS
Amounts falling due after more than one
year

7

(55,912

)

(42,157

)

PROVISIONS FOR LIABILITIES (7,890 ) (7,190 )
NET ASSETS 154,345 224,576

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 154,343 224,574
154,345 224,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Express Image Limited (Registered number: SC214703)

Balance Sheet - continued
30 April 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





M Kane - Director


Express Image Limited (Registered number: SC214703)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Express Image Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

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

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Express Image Limited (Registered number: SC214703)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 118,381
Additions 26,271
Disposals (17,250 )
At 30 April 2023 127,402
DEPRECIATION
At 1 May 2022 78,333
Charge for year 22,719
Eliminated on disposal (17,250 )
At 30 April 2023 83,802
NET BOOK VALUE
At 30 April 2023 43,600
At 30 April 2022 40,048

Express Image Limited (Registered number: SC214703)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022 20,998
Additions 25,731
At 30 April 2023 46,729
DEPRECIATION
At 1 May 2022 16,798
Charge for year 9,346
At 30 April 2023 26,144
NET BOOK VALUE
At 30 April 2023 20,585
At 30 April 2022 4,200

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 86,937 147,303
Amounts owed by group undertakings 208,054 208,054
Other debtors 6,907 -
301,898 355,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 6,618 5,882
Hire purchase contracts (see note 8) 5,107 4,367
Trade creditors 43,718 31,589
Taxation and social security 31,358 74,652
Other creditors 63,619 55,058
150,420 171,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 36,760 42,157
Hire purchase contracts (see note 8) 19,152 -
55,912 42,157

Express Image Limited (Registered number: SC214703)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.4.23 30.4.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,288 18,628

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.23 30.4.22
£    £   
Net obligations repayable:
Within one year 5,107 4,367
Between one and five years 19,152 -
24,259 4,367

Non-cancellable operating leases
30.4.23 30.4.22
£    £   
Within one year 28,750 28,750
Between one and five years 67,818 96,568
96,568 125,318

9. SECURED DEBTS

A floating charge has been granted by Express Image Limited in favour of G & J Casey Limited.