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Registered number: 05215147
4 Corners Images limited
Financial Statements
For The Year Ended 31 August 2023
Charles Accountancy Limited
Chartered Certified Accountants
29 Greenford Gardens
Greenford
Ealing
London
UB6 9LY
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05215147
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,944 3,386
3,944 3,386
CURRENT ASSETS
Debtors 15,106 7,476
Cash at bank and in hand 8,001 12,694
23,107 20,170
Creditors: Amounts Falling Due Within One Year (63,029 ) (64,156 )
NET CURRENT ASSETS (LIABILITIES) (39,922 ) (43,986 )
TOTAL ASSETS LESS CURRENT LIABILITIES (35,978 ) (40,600 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (928 )
NET LIABILITIES (35,978 ) (41,528 )
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account (36,078 ) (41,628 )
SHAREHOLDERS' FUNDS (35,978) (41,528)
Page 1
Page 2
For the year ending 31 August 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Sladja Kisic
Director
5 March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
4 Corners Images limited is a private company, limited by shares, incorporated in England & Wales, registered number 05215147 . The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 25% SLM
Computer Equipment 33.33% SLM
2.4. Taxation
Income tax expense represents the tax currently payable .
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 40,782 42,105 - 850 83,737
Additions - - 229 1,482 1,711
As at 31 August 2023 40,782 42,105 229 2,332 85,448
Depreciation
As at 1 September 2022 39,088 40,772 - 491 80,351
Provided during the period 423 333 53 344 1,153
As at 31 August 2023 39,511 41,105 53 835 81,504
Net Book Value
As at 31 August 2023 1,271 1,000 176 1,497 3,944
As at 1 September 2022 1,694 1,333 - 359 3,386
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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