Company registration number 07848683 (England and Wales)
IMAGES TEXTILES LIMITED (FORMERLY IMAGES COSTUMES LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
IMAGES TEXTILES LIMITED (FORMERLY IMAGES COSTUMES LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
IMAGES TEXTILES LIMITED (FORMERLY IMAGES COSTUMES LIMITED)
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
240,000
240,000
Current assets
Debtors
4
35,860
35,860
Creditors: amounts falling due within one year
5
(275,760)
(275,760)
Net current liabilities
(239,900)
(239,900)
Net assets
100
100
Capital and reserves
Called up share capital
6
100
100

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 January 2025 and are signed on its behalf by:
Mrs M Webb
Director
Company registration number 07848683 (England and Wales)
IMAGES TEXTILES LIMITED (FORMERLY IMAGES COSTUMES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Images Textiles Limited (Formerly Images Costumes Limited) is a private company limited by shares incorporated in England and Wales. The registered office is Images Studio, Markham Road, Chesterfield, Derbyshire, S40 1SU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
IMAGES TEXTILES LIMITED (FORMERLY IMAGES COSTUMES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
3
Fixed asset investments
2024
2023
£
£
Investments
240,000
240,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 July 2023 & 30 June 2024
240,000
Carrying amount
At 30 June 2024
240,000
At 30 June 2023
240,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
35,860
35,860
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
275,760
275,760
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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