First Image And Snappers Limited Filleted Accounts Cover
First Image And Snappers Limited
Company No. 02782867
Information for Filing with The Registrar
For the Year Ended
31 January 2024
First Image And Snappers Limited Balance Sheet Registrar
at
31 January 2024
Company No.
02782867
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
54,84421,618
54,84421,618
Current assets
Debtors
5
172,123109,921
Cash at bank and in hand
519,727568,763
691,850678,684
Creditors: Amount falling due within one year
6
(192,313)
(177,697)
Net current assets
499,537500,987
Total assets less current liabilities
554,381522,605
Net assets
554,381522,605
Capital and reserves
Called up share capital
9
100100
Profit and loss account
10
554,281522,505
Total equity
554,381522,605
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 January 2024 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 18 March 2024 and signed on its behalf by:
J. McLaughlin
Director
18 March 2024
First Image And Snappers Limited Notes to the Accounts Registrar
for the year ended 31 January 2024
1
General information
First Image And Snappers Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 02782867
Its registered office is:
Office 8, No. 11 Riverside
Riverside Park
Farnham
Surrey
GU9 7UG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2
Accounting policies
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes after making necessary adjustments for accrued and deferred income.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
25% Straight Line
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years 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 relate 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.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Leased assets
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are
classified as operating leases.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
Dividend
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at the Annual General Meeting.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
88
4
Tangible fixed assets
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 February 2023
-234,900234,900
Additions
35,95016,29752,247
Disposals
-
(8,821)
(8,821)
At 31 January 2024
35,950242,376278,326
Depreciation
At 1 February 2023
-213,282213,282
Charge for the year
8,9889,29818,286
Disposals
-
(8,086)
(8,086)
At 31 January 2024
8,988214,494223,482
Net book values
At 31 January 2024
26,96227,88254,844
At 31 January 2023
-
21,618
21,618
5
Debtors
2024
2023
£
£
Trade debtors
153,11153,457
Amounts owed by group undertakings
2,3311,162
Other debtors
8,84245,061
Prepayments and accrued income
7,83910,241
172,123109,921
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,9174,947
Trade creditors
28,06918,509
Taxes and social security
144,901
117,592
Loans from directors
952936
Other creditors
2,034604
Accruals and deferred income
7,44035,109
192,313177,697
7
Pension
The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. Contributions of £612
(2023: £564) were payable at the balance sheet date.
8
Leasing agreements
Obligations under non-cancellable operating leases fall due as follows:
2024
2023
£
£
Within 1 year
-
26,008
Between 1-5 years
-1,553
-
27,561
9
Share Capital
Share capital includes following:
2024
2023
£
£
100 ordinary shares of £1 each
100
100
100
100
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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