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REGISTERED NUMBER: 04725092 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

New Image Tile Studio Limited

New Image Tile Studio Limited (Registered number: 04725092)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


New Image Tile Studio Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: S M Cobb





REGISTERED OFFICE: 8 Kent Close
Granby Industrial Estate
Weymouth
Dorset
DT4 9TF





REGISTERED NUMBER: 04725092 (England and Wales)





ACCOUNTANTS: Birkett & Co Ltd
186b Lower Blandford Road
Broadstone
Dorset
BH18 8DP

New Image Tile Studio Limited (Registered number: 04725092)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 24,723
Tangible assets 5 51,145 61,119
51,145 85,842

CURRENT ASSETS
Stocks 192,385 223,015
Debtors 6 54,657 101,978
Cash at bank and in hand 29,461 53,687
276,503 378,680
CREDITORS
Amounts falling due within one year 7 (370,072 ) (465,539 )
NET CURRENT LIABILITIES (93,569 ) (86,859 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(42,424

)

(1,017

)

CREDITORS
Amounts falling due after more than one
year

8

(42,723

)

(87,154

)
NET LIABILITIES (85,147 ) (88,171 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (85,247 ) (88,271 )
(85,147 ) (88,171 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





S M Cobb - Director


New Image Tile Studio Limited (Registered number: 04725092)

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

1. STATUTORY INFORMATION

New Image Tile Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 4% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

New Image Tile Studio Limited (Registered number: 04725092)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 153,605
AMORTISATION
At 1 May 2023 128,882
Amortisation for year 24,723
At 30 April 2024 153,605
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 24,723

5. TANGIBLE FIXED ASSETS
Long Plant and Fixtures
leasehold machinery & fittings
£    £    £   
COST
At 1 May 2023 70,302 13,453 266,398
Additions - - 524
At 30 April 2024 70,302 13,453 266,922
DEPRECIATION
At 1 May 2023 70,302 5,895 247,017
Charge for year - 1,380 2,217
At 30 April 2024 70,302 7,275 249,234
NET BOOK VALUE
At 30 April 2024 - 6,178 17,688
At 30 April 2023 - 7,558 19,381

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 45,739 55,852 451,744
Additions - - 524
At 30 April 2024 45,739 55,852 452,268
DEPRECIATION
At 1 May 2023 29,538 37,873 390,625
Charge for year 3,617 3,284 10,498
At 30 April 2024 33,155 41,157 401,123
NET BOOK VALUE
At 30 April 2024 12,584 14,695 51,145
At 30 April 2023 16,201 17,979 61,119

New Image Tile Studio Limited (Registered number: 04725092)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 31,632
Other debtors 54,657 70,346
54,657 101,978

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,201 8,030
Payments on account 164,714 195,545
Trade creditors 96,435 112,637
Taxation and social security 31,644 51,637
Other creditors 73,078 97,690
370,072 465,539

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 42,723 87,154