Company Registration No. 04231144 (England and Wales)
Blink Image Limited
Unaudited accounts
for the year ended 31 July 2023
Blink Image Limited
Unaudited accounts
Contents
Blink Image Limited
Company Information
for the year ended 31 July 2023
Directors
Mr D.A. Beinart
Mr R.W. Birket
Company Number
04231144 (England and Wales)
Registered Office
19 Eastbourne Terrace
London
W2 6LG
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
Blink Image Limited
Statement of financial position
as at 31 July 2023
Tangible assets
29,617
23,976
Cash at bank and in hand
164,928
167,350
Creditors: amounts falling due within one year
(112,851)
(99,586)
Net current assets
203,310
199,639
Total assets less current liabilities
232,927
223,615
Creditors: amounts falling due after more than one year
(19,064)
(29,099)
Provisions for liabilities
Deferred tax
(6,992)
(4,173)
Net assets
206,871
190,343
Called up share capital
100
100
Profit and loss account
206,771
190,243
Shareholders' funds
206,871
190,343
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by
Mr R.W. Birket
Director
Company Registration No. 04231144
Blink Image Limited
Notes to the Accounts
for the year ended 31 July 2023
Blink Image Limited is a private company, limited by shares, registered in England and Wales, registration number 04231144. The registered office is 19 Eastbourne Terrace, London, W2 6LG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line basis
Computer equipment
25% Straight line basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Blink Image Limited
Notes to the Accounts
for the year ended 31 July 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Blink Image Limited
Notes to the Accounts
for the year ended 31 July 2023
5
Tangible fixed assets
Plant & machinery
Charge for the year
16,283
Amounts falling due within one year
Trade debtors
122,106
78,028
Accrued income and prepayments
5,027
2,471
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,035
9,788
Trade creditors
5,047
4,537
Taxes and social security
37,609
26,039
Other creditors
12,054
2,632
Loans from directors
4,420
256
8
Creditors: amounts falling due after more than one year
2023
2022
This facility is supported by the Bounce Back Loan Scheme (BBLS). The lender has a guarantee from the UK Government under BBLS. The loan is repayable over 5 years.
Blink Image Limited
Notes to the Accounts
for the year ended 31 July 2023
9
Deferred taxation
2023
2022
Accelerated capital allowances
6,992
4,173
Provision at start of year
4,173
3,899
Charged to the profit and loss account
2,819
274
Provision at end of year
6,992
4,173
10
Operating lease commitments
2023
2022
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
6,060
6,610
Later than one year and not later than five years
-
6,060
11
Average number of employees
During the year the average number of employees was 9 (2022: 6).