Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falsefalse2No description of principal activity2023-05-011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03549199 2023-05-01 2024-04-30 03549199 2022-05-01 2023-04-30 03549199 2024-04-30 03549199 2023-04-30 03549199 c:Director1 2023-05-01 2024-04-30 03549199 d:FurnitureFittings 2023-05-01 2024-04-30 03549199 d:FurnitureFittings 2024-04-30 03549199 d:FurnitureFittings 2023-04-30 03549199 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03549199 d:ComputerEquipment 2023-05-01 2024-04-30 03549199 d:ComputerEquipment 2024-04-30 03549199 d:ComputerEquipment 2023-04-30 03549199 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03549199 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03549199 d:CurrentFinancialInstruments 2024-04-30 03549199 d:CurrentFinancialInstruments 2023-04-30 03549199 d:Non-currentFinancialInstruments 2024-04-30 03549199 d:Non-currentFinancialInstruments 2023-04-30 03549199 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03549199 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03549199 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03549199 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03549199 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 03549199 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 03549199 d:ShareCapital 2024-04-30 03549199 d:ShareCapital 2023-04-30 03549199 d:RetainedEarningsAccumulatedLosses 2024-04-30 03549199 d:RetainedEarningsAccumulatedLosses 2023-04-30 03549199 c:FRS102 2023-05-01 2024-04-30 03549199 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03549199 c:FullAccounts 2023-05-01 2024-04-30 03549199 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03549199 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03549199










SWEET IMAGES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
SWEET IMAGES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SWEET IMAGES LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sweet Images Limited for the year ended 30 April 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Sweet Images Limited in accordance with the terms of our engagement letter dated 17th August 2023Our work has been undertaken solely to prepare for your approval the financial statements of Sweet Images Limited and state those matters that we have agreed to state to the director of Sweet Images Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sweet Images Limited and its director for our work or for this report. 

It is your duty to ensure that Sweet Images Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sweet Images Limited. You consider that Sweet Images Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sweet Images Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS Chartered Accountants
 
Chartered Accountants
  
601 London Road
Westcliff On Sea
Essex
SS0 9PE
14 January 2025
Page 1

 
SWEET IMAGES LIMITED
REGISTERED NUMBER: 03549199

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,126
12,245

  
13,126
12,245

Current assets
  

Debtors: amounts falling due within one year
 5 
275
4,737

Cash at bank and in hand
  
-
3,610

  
275
8,347

Creditors: amounts falling due within one year
 7 
(35,712)
(11,176)

Net current liabilities
  
 
 
(35,437)
 
 
(2,829)

Total assets less current liabilities
  
(22,311)
9,416

Creditors: amounts falling due after more than one year
  
(5,815)
(11,526)

Provisions for liabilities
  

Deferred tax
  
(40)
(50)

  
 
 
(40)
 
 
(50)

Net liabilities
  
(28,166)
(2,160)


Capital and reserves
  

Called up share capital 
  
125
125

Profit and loss account
  
(28,291)
(2,285)

  
(28,166)
(2,160)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 January 2025.

Page 2

 
SWEET IMAGES LIMITED
REGISTERED NUMBER: 03549199

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024




Matthew Bolton
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Sweet Images Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, E1W 9US. The prinicipal place of business is St Anne's Court, Soho, London.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company had a deficit on shareholders funds at 30th April 2024 £28,166. However, the directors are of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of these factors, the directors consider it appropriate to adopt the going concern basis in the preparation of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Computer equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

2024
2023
£
£

Wages and salaries
12,570
19,167

Cost of defined contribution scheme
-
172

12,570
19,339


The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
16,301
26,584
42,885


Additions
1,533
1,501
3,034



At 30 April 2024

17,834
28,085
45,919



Depreciation


At 1 May 2023
10,396
20,244
30,640


Charge for the year on owned assets
1,078
1,075
2,153



At 30 April 2024

11,474
21,319
32,793



Net book value



At 30 April 2024
6,360
6,766
13,126



At 30 April 2023
5,905
6,340
12,245


5.


Debtors

2024
2023
£
£


Trade debtors
-
4,470

Prepayments and accrued income
275
267

275
4,737


Page 7

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
3,610

Less: bank overdrafts
(20,534)
-

(20,534)
3,610



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
20,534
-

Bank loans
5,740
5,599

Trade creditors
74
26

Corporation tax
4,748
1,389

Other taxation and social security
3,844
3,247

Other creditors
(53)
165

Accruals and deferred income
825
750

35,712
11,176



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
5,815
11,526

5,815
11,526


Page 8

 
SWEET IMAGES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,740
5,599


5,740
5,599

Amounts falling due 1-2 years

Other loans
5,815
11,526


5,815
11,526



11,555
17,125



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £nil (2023 - £172) . Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


Page 9