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Registered number: 10735975










ADVANCED IMAGING TECHNOLOGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ADVANCED IMAGING TECHNOLOGY LIMITED
REGISTERED NUMBER: 10735975

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
503
443

  
503
443

Current assets
  

Stocks
  
5,185
31,986

Debtors: amounts falling due within one year
 5 
77,548
51,065

Cash at bank and in hand
 6 
10,167
1,412

  
92,900
84,463

Creditors: amounts falling due within one year
 7 
(84,555)
(54,879)

Net current assets
  
 
 
8,345
 
 
29,584

Total assets less current liabilities
  
8,848
30,027

Creditors: amounts falling due after more than one year
 8 
-
(5,000)

  

Net assets
  
8,848
25,027


Capital and reserves
  

Called up share capital 
 9 
5
5

Profit and loss account
  
8,843
25,022

  
8,848
25,027

Page 1

 
ADVANCED IMAGING TECHNOLOGY LIMITED
REGISTERED NUMBER: 10735975
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 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.

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 by: 




Robert Bruce Knox
Director

Date: 30 January 2025

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Advanced  Imaging Technology Limited  is  a  private  company  limited  by  shares,  incorporated  in  England. The registered office is 73  Southern Road, Thame, Oxon, OX9 2ED.

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

These accounts have been prepared on a going concern basis, on the understanding that the director and shareholder will continue to financially support the company for now and for the foreseeable future. 

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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.

 
2.6

Taxation

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.


 
2.7

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.

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:

Office equipment
-
33%

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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.


3.


Employees

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

Page 5

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2023
1,687


Additions
246



At 30 April 2024

1,933



Depreciation


At 1 May 2023
1,244


Charge for the year on owned assets
186



At 30 April 2024

1,430



Net book value



At 30 April 2024
503



At 30 April 2023
443

Page 6

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
73,608
45,557

Other debtors
3,832
4,330

Prepayments and accrued income
108
1,178

77,548
51,065



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,167
1,412

10,167
1,412



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
1,496
3,535

Trade creditors
15,367
14,980

Corporation tax
-
5,890

Other taxation and social security
503
503

Other creditors
63,689
26,471

Accruals and deferred income
3,500
3,500

84,555
54,879



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
-
5,000

-
5,000


Page 7

 
ADVANCED IMAGING TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



501 (2023 - 501) Ordinary Shares shares of £0.01 each
5
5



10.


Controlling party

The company was controlled throughout the year by Mr R B Knox who holds 100% of the issued share capital.
 
Page 8