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REGISTERED NUMBER: 02236624 (England and Wales)






Microform Imaging Limited

Financial Statements

for the Year Ended 30 April 2024






Microform Imaging Limited (Registered number: 02236624)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Microform Imaging Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr J N Le Page
Mr N Le Page
Mrs G Le Page
Mr D N Le Page





REGISTERED OFFICE: Main Street
East Ardsley
Wakefield
West Yorkshire
WF3 2AP





REGISTERED NUMBER: 02236624 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Microform Imaging Limited (Registered number: 02236624)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 57,527 49,320
Tangible assets 5 1,741,603 1,154,908
1,799,130 1,204,228

CURRENT ASSETS
Stocks 72,843 102,212
Debtors 6 1,142,888 614,910
Cash at bank and in hand 247,105 751,420
1,462,836 1,468,542
CREDITORS
Amounts falling due within one year 7 884,246 520,607
NET CURRENT ASSETS 578,590 947,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,377,720

2,152,163

CREDITORS
Amounts falling due after more than one year 8 (248,334 ) (81,667 )

PROVISIONS FOR LIABILITIES (209,391 ) (194,181 )
NET ASSETS 1,919,995 1,876,315

Microform Imaging Limited (Registered number: 02236624)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 12 26,678 26,678
Retained earnings 1,893,317 1,849,637
SHAREHOLDERS' FUNDS 1,919,995 1,876,315

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




Mr J N Le Page - Director



Mr D N Le Page - Director


Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Microform Imaging 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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 represents net invoiced provision of services, excluding value added tax.

Intangible assets
Expenditure on software development is amortised over three years on a straight line basis. Amortisation is only charged when the software is fully operational.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Film negatives and released images - 30% on reducing balance
Office equipment - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 10% on cost

All fixed assets are initially recorded at cost.

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

Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 73 (2023 - 71 ) .

Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. INTANGIBLE FIXED ASSETS
Software
development
£
COST
At 1 May 2023 129,267
Additions 29,463
Disposals (11,968 )
At 30 April 2024 146,762
AMORTISATION
At 1 May 2023 79,947
Amortisation for year 21,256
Eliminated on disposal (11,968 )
At 30 April 2024 89,235
NET BOOK VALUE
At 30 April 2024 57,527
At 30 April 2023 49,320

5. TANGIBLE FIXED ASSETS
Film
negatives
and
Freehold released Office
property images equipment
£ £ £
COST
At 1 May 2023 463,440 1,104,609 56,272
Additions 543,931 121,947 1,538
At 30 April 2024 1,007,371 1,226,556 57,810
DEPRECIATION
At 1 May 2023 62,576 785,602 43,036
Charge for year 6,413 50,564 2,016
At 30 April 2024 68,989 836,166 45,052
NET BOOK VALUE
At 30 April 2024 938,382 390,390 12,758
At 30 April 2023 400,864 319,007 13,236

Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


5. TANGIBLE FIXED ASSETS - continued

Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 May 2023 859,663 56,311 428,267 2,968,562
Additions 6,552 - 43,456 717,424
At 30 April 2024 866,215 56,311 471,723 3,685,986
DEPRECIATION
At 1 May 2023 649,830 29,793 242,817 1,813,654
Charge for year 31,534 6,629 33,573 130,729
At 30 April 2024 681,364 36,422 276,390 1,944,383
NET BOOK VALUE
At 30 April 2024 184,851 19,889 195,333 1,741,603
At 30 April 2023 209,833 26,518 185,450 1,154,908

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,077,334 526,853
Other debtors 4,633 5,162
VAT 764 44,625
Prepayments and accrued income 60,157 38,270
1,142,888 614,910

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 9) 35,000 56,961
Other loans (see note 9) 55,000 -
Trade creditors 169,002 116,106
Tax 27,068 23,599
Social security and other taxes 29,418 33,951
Other creditors 7,904 21,198
Directors' current accounts 68,150 30,788
Accruals and deferred income 492,704 238,004
884,246 520,607

Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans (see note 9) 46,667 81,667
Other loans (see note 9) 201,667 -
248,334 81,667

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts - 21,961
Bank loans 35,000 35,000
Other loans 55,000 -
90,000 56,961

Amounts falling due between one and two years:
Bank loans - 1-2 years 35,000 35,000
Other loans - 1-2 years 55,000 -
90,000 35,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,667 46,667
Other loans - 2-5 years 146,667 -
158,334 46,667

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 33,693 9,164
Between one and five years 5,518 7,173
39,211 16,337

Microform Imaging Limited (Registered number: 02236624)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other loans 256,667 -

Other loans are secured by way of a fixed charge over the company's freehold property.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
13,873 Ordinary £1 13,873 13,873
12,805 A Ordinary £1 12,805 12,805
26,678 26,678

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£ £
Mr N Le Page
Balance outstanding at start of year - 323
Amounts repaid - (323 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -