IRIS Accounts Production v23.3.0.418 05775326 director 1.6.22 31.5.23 31.5.23 true false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057753262022-05-31057753262023-05-31057753262022-06-012023-05-31057753262021-05-31057753262021-06-012022-05-31057753262022-05-3105775326ns10:Originalns15:EnglandWales2022-06-012023-05-3105775326ns14:PoundSterlingns10:Original2022-06-012023-05-3105775326ns10:Originalns10:Director12022-06-012023-05-3105775326ns10:Original2022-06-012023-05-3105775326ns10:Original2023-05-3105775326ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3105775326ns10:Originalns10:SmallEntities2022-06-012023-05-3105775326ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3105775326ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3105775326ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3105775326ns10:Originalns10:FullAccounts2022-06-012023-05-3105775326ns10:Original12022-06-012023-05-3105775326ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3105775326ns10:Originalns10:RegisteredOffice2022-06-012023-05-3105775326ns10:Original2022-05-3105775326ns10:Originalns5:CurrentFinancialInstruments2023-05-3105775326ns10:Originalns5:CurrentFinancialInstruments2022-05-3105775326ns5:ShareCapitalns10:Original2023-05-3105775326ns5:ShareCapitalns10:Original2022-05-3105775326ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3105775326ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3105775326ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3105775326ns10:Originalns5:FurnitureFittings2022-06-012023-05-3105775326ns10:Originalns5:MotorVehicles2022-06-012023-05-3105775326ns10:Originalns5:ComputerEquipment2022-06-012023-05-3105775326ns10:Original2021-06-012022-05-3105775326ns10:Originalns5:NetGoodwill2022-05-3105775326ns10:Originalns5:NetGoodwill2022-06-012023-05-3105775326ns10:Originalns5:NetGoodwill2023-05-3105775326ns10:Originalns5:NetGoodwill2022-05-3105775326ns10:Originalns5:PlantMachinery2022-05-3105775326ns10:Originalns5:PlantMachinery2022-06-012023-05-3105775326ns10:Originalns5:PlantMachinery2023-05-3105775326ns10:Originalns5:PlantMachinery2022-05-3105775326ns10:Originalns5:DisposalsRepaymentsInvestments2023-05-3105775326ns10:Originalns5:CostValuation2023-05-3105775326ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3105775326ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3105775326ns10:Originalns10:OrdinaryShareClass12023-05-31
REGISTERED NUMBER: 05775326 (England and Wales)















ADVANCED IMAGING SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023






ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


ADVANCED IMAGING SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: Mr S A Lennon



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 05775326 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Nat West Bank Plc
84 Commercial Road
SWINDON
Wiltshire
SN1 5NW

ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

STATEMENT OF FINANCIAL POSITION
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 148,187 76,780
Investments 6 - 31,598
148,187 108,378

CURRENT ASSETS
Stocks 50,907 72,276
Debtors 7 215,136 182,216
Cash at bank and in hand 711,245 818,624
977,288 1,073,116
CREDITORS
Amounts falling due within one year 8 232,285 228,786
NET CURRENT ASSETS 745,003 844,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

893,190

952,708

PROVISIONS FOR LIABILITIES 37,107 25,000
NET ASSETS 856,083 927,708

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 855,983 927,608
SHAREHOLDERS' FUNDS 856,083 927,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

STATEMENT OF FINANCIAL POSITION - continued
31ST MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th October 2023 and were signed by:





Mr S A Lennon - Director


ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Advanced Imaging Systems Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05775326

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at 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
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 amoritsed cost using the effective interest method, less any impairment.

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


ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022 154,676
Disposals (154,676 )
At 31st May 2023 -
AMORTISATION
At 1st June 2022 154,676
Eliminated on disposal (154,676 )
At 31st May 2023 -
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2022 217,201
Additions 114,773
Disposals (28,250 )
At 31st May 2023 303,724
DEPRECIATION
At 1st June 2022 140,421
Charge for year 34,130
Eliminated on disposal (19,014 )
At 31st May 2023 155,537
NET BOOK VALUE
At 31st May 2023 148,187
At 31st May 2022 76,780

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st June 2022 31,598
Disposals (31,598 )
At 31st May 2023 -
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 31,598

The company also has a wholly owned subsidiary, Advanced Imaging Ltd, which is dormant. The value of this investment is £nil.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,596 146,251
Other debtors 28,540 35,965
215,136 182,216

ADVANCED IMAGING SYSTEMS LIMITED (REGISTERED NUMBER: 05775326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 102,151 85,432
Taxation and social security 123,021 45,494
Other creditors 7,113 97,860
232,285 228,786

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100