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Company Registration No. 05471891 (England and Wales)
Images Plus Limited Unaudited accounts for the year ended 31 December 2023
Images Plus Limited Unaudited accounts Contents
Page
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Images Plus Limited Company Information for the year ended 31 December 2023
Director
Peter Arthur Thomas Ray
Company Number
05471891 (England and Wales)
Registered Office
48-50 High Street Cheltenham GL50 1EE England
Accountants
Next Level Accountants Limited 35 Goddard Way Tuffley Gloucester Gloucestershire GL4 0YA
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Images Plus Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
18,271 
8,755 
Current assets
Inventories
8,000 
8,000 
Debtors
- 
37,038 
Cash at bank and in hand
2,610 
41 
10,610 
45,079 
Creditors: amounts falling due within one year
(64,002)
(46,000)
Net current liabilities
(53,392)
(921)
Total assets less current liabilities
(35,121)
7,834 
Creditors: amounts falling due after more than one year
(149,282)
(151,245)
Net liabilities
(184,403)
(143,411)
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
(184,423)
(143,431)
Shareholders' funds
(184,403)
(143,411)
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 12 July 2024 and were signed on its behalf by
Peter Arthur Thomas Ray Director Company Registration No. 05471891
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Images Plus Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Images Plus Limited is a private company, limited by shares, registered in England and Wales, registration number 05471891. The registered office is 48-50 High Street, Cheltenham, GL50 1EE, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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% Reducing Balance
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Inventories
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 taxation
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.
Pension costs
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.
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Images Plus Limited Notes to the Accounts for the year ended 31 December 2023
Going concern
Despite having net liabilities at the reporting date, the director has reviewed the future cash flows of the company and with his continued financial support, has prepared these financial statements on a going concern basis.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
61,162 
Additions
17,285 
At 31 December 2023
78,447 
Depreciation
At 1 January 2023
52,407 
Charge for the year
7,769 
At 31 December 2023
60,176 
Net book value
At 31 December 2023
18,271 
At 31 December 2022
8,755 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
37,038 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,491 
8,101 
VAT
9,444 
14,920 
Obligations under finance leases and hire purchase contracts
4,536 
- 
Trade creditors
8,251 
1,117 
Taxes and social security
9,780 
561 
Other creditors
- 
8,356 
Loans from directors
20,000 
12,945 
Accruals
1,500 
- 
64,002 
46,000 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
10,672 
15,407 
Obligations under finance leases and hire purchase contracts
9,415 
- 
Other creditors
5,000 
- 
Loans from directors
124,195 
135,838 
149,282 
151,245 
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Images Plus Limited Notes to the Accounts for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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