Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets/(liabilities) | ( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Mr K S Bansal | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £. The accounts have been prepared under the historical cost convention. |
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Turnover | ||||||||
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Tangible fixed assets | ||||||||
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
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Freehold buildings | over 50 years | |||||||
Short leasehold | 3% straight line | |||||||
Fixtures, fittings & equipments | 10% straight line | |||||||
Motor vehicles | 25% straight line/Valuation | |||||||
Investment properties | ||||||||
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any direct attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date. Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
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Foreign currency translation | ||||||||
Pensions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Short leasehold | Fixtures, fittings & equipments | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 March 2023 | ||||||||
Disposals | - | - | ( |
( |
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Transfers | - | 11,184 | - | 11,184 | ||||
At 29 February 2024 | ||||||||
Depreciation | ||||||||
At 1 March 2023 | ||||||||
Charge for the year | - | |||||||
On disposals | - | - | ( |
( |
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At 29 February 2024 | ||||||||
Net book value | ||||||||
At 29 February 2024 | ||||||||
At 28 February 2023 | ||||||||
4 | Investment property | |||||||
Total | ||||||||
£ | ||||||||
Fair Value | ||||||||
At 1 March 2023 | ||||||||
Transfers | ( |
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Disposals | ( |
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At 29 February 2024 | ||||||||
In the directors opinion the carrying value of investment property is equivalent to fair value. | ||||||||
5 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Other creditors | - | |||||||
8 | Loans | 2024 | 2023 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured other creditors | 193,333 | - | ||||||
9 | Related party transactions | |||||||
been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year. |
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10 | Other information | |||||||
Proimage Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
12 Kingsbarn Close | ||||||||
Preston | ||||||||
PR2 9LZ |