Business Image Services Ltd SC283268 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of web design, SEO, online coaching and photography. Digita Accounts Production Advanced 6.30.9574.0 true SC283268 2023-05-01 2024-04-30 SC283268 2024-04-30 SC283268 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC283268 core:ShareCapital 2024-04-30 SC283268 core:CurrentFinancialInstruments 2024-04-30 SC283268 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC283268 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC283268 core:FurnitureFittingsToolsEquipment 2024-04-30 SC283268 core:MotorVehicles 2024-04-30 SC283268 core:OtherPropertyPlantEquipment 2024-04-30 SC283268 bus:SmallEntities 2023-05-01 2024-04-30 SC283268 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC283268 bus:FullAccounts 2023-05-01 2024-04-30 SC283268 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC283268 bus:RegisteredOffice 2023-05-01 2024-04-30 SC283268 bus:Director1 2023-05-01 2024-04-30 SC283268 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC283268 core:FurnitureFittings 2023-05-01 2024-04-30 SC283268 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC283268 core:MotorVehicles 2023-05-01 2024-04-30 SC283268 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC283268 core:PlantMachinery 2023-05-01 2024-04-30 SC283268 countries:Scotland 2023-05-01 2024-04-30 SC283268 2023-04-30 SC283268 core:FurnitureFittingsToolsEquipment 2023-04-30 SC283268 core:MotorVehicles 2023-04-30 SC283268 core:OtherPropertyPlantEquipment 2023-04-30 SC283268 2022-05-01 2023-04-30 SC283268 2023-04-30 SC283268 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC283268 core:ShareCapital 2023-04-30 SC283268 core:CurrentFinancialInstruments 2023-04-30 SC283268 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC283268 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC283268 core:FurnitureFittingsToolsEquipment 2023-04-30 SC283268 core:MotorVehicles 2023-04-30 SC283268 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC283268

Business Image Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Business Image Services Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Business Image Services Ltd

(Registration number: SC283268)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,603

45,319

Current assets

 

Debtors

5

54,530

60,662

Cash at bank and in hand

 

18,435

19,237

 

72,965

79,899

Creditors: Amounts falling due within one year

6

(67,040)

(75,331)

Net current assets

 

5,925

4,568

Total assets less current liabilities

 

45,528

49,887

Creditors: Amounts falling due after more than one year

6

(17,427)

(20,155)

Provisions for liabilities

(6,806)

(7,297)

Net assets

 

21,295

22,435

Capital and reserves

 

Called up share capital

100

100

Retained earnings

21,195

22,335

Shareholders' funds

 

21,295

22,435

 

Business Image Services Ltd

(Registration number: SC283268)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

.........................................
N Thomson
Director

 

Business Image Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
14 Tremayne Place
Dunfermline
Fife
KY12 9YH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Business Image Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% straight line

Fixtures and fittings

15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Business Image Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Business Image Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

2,417

35,655

53,599

91,671

Additions

258

-

5,710

5,968

Disposals

(94)

-

(14,009)

(14,103)

At 30 April 2024

2,581

35,655

45,300

83,536

Depreciation

At 1 May 2023

2,020

5,348

38,984

46,352

Charge for the year

110

4,546

5,687

10,343

Eliminated on disposal

-

-

(12,762)

(12,762)

At 30 April 2024

2,130

9,894

31,909

43,933

Carrying amount

At 30 April 2024

451

25,761

13,391

39,603

At 30 April 2023

397

30,307

14,615

45,319

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,464

6,739

Prepayments

99

-

Other debtors

51,967

53,923

 

54,530

60,662

 

Business Image Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Hire purchase creditor

2,727

2,727

Trade creditors

 

752

-

Directors loan

77

11,495

Taxation and social security

 

865

-

Other creditors

 

62,619

61,109

 

67,040

75,331

Due after one year

 

Loans and borrowings

17,427

20,155

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

17,427

20,155