Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30No description of principal activity23falsetrue2023-07-01false23falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02591791 2023-07-01 2024-06-30 02591791 2022-07-01 2023-06-30 02591791 2024-06-30 02591791 2023-06-30 02591791 c:Director1 2023-07-01 2024-06-30 02591791 d:PlantMachinery 2023-07-01 2024-06-30 02591791 d:MotorVehicles 2023-07-01 2024-06-30 02591791 d:FurnitureFittings 2023-07-01 2024-06-30 02591791 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 02591791 d:OtherPropertyPlantEquipment 2024-06-30 02591791 d:OtherPropertyPlantEquipment 2023-06-30 02591791 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02591791 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 02591791 d:Goodwill 2024-06-30 02591791 d:Goodwill 2023-06-30 02591791 d:CurrentFinancialInstruments 2024-06-30 02591791 d:CurrentFinancialInstruments 2023-06-30 02591791 d:Non-currentFinancialInstruments 2024-06-30 02591791 d:Non-currentFinancialInstruments 2023-06-30 02591791 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02591791 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02591791 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02591791 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02591791 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 02591791 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02591791 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 02591791 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 02591791 d:ShareCapital 2024-06-30 02591791 d:ShareCapital 2023-06-30 02591791 d:CapitalRedemptionReserve 2024-06-30 02591791 d:CapitalRedemptionReserve 2023-06-30 02591791 d:RetainedEarningsAccumulatedLosses 2024-06-30 02591791 d:RetainedEarningsAccumulatedLosses 2023-06-30 02591791 c:OrdinaryShareClass1 2023-07-01 2024-06-30 02591791 c:OrdinaryShareClass1 2024-06-30 02591791 c:FRS102 2023-07-01 2024-06-30 02591791 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02591791 c:FullAccounts 2023-07-01 2024-06-30 02591791 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02591791 d:WithinOneYear 2024-06-30 02591791 d:WithinOneYear 2023-06-30 02591791 d:BetweenOneFiveYears 2024-06-30 02591791 d:BetweenOneFiveYears 2023-06-30 02591791 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2024-06-30 02591791 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-06-30 02591791 d:LeasedAssetsHeldAsLessee 2024-06-30 02591791 d:LeasedAssetsHeldAsLessee 2023-06-30 02591791 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 02591791 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02591791









IMAGE OFFICE SUPPLIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
IMAGE OFFICE SUPPLIES LIMITED
REGISTERED NUMBER: 02591791

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
52,962
72,554

Tangible assets
 5 
47,972
58,828

  
100,934
131,382

Current assets
  

Stocks
 6 
24,502
36,413

Debtors: amounts falling due within one year
 7 
738,946
893,612

Cash at bank and in hand
 8 
40,181
113,511

  
803,629
1,043,536

Creditors: amounts falling due within one year
 9 
(469,994)
(652,272)

Net current assets
  
 
 
333,635
 
 
391,264

Total assets less current liabilities
  
434,569
522,646

Creditors: amounts falling due after more than one year
 10 
(50,633)
(66,904)

  

Net assets
  
383,936
455,742


Capital and reserves
  

Called up share capital 
 12 
5,015
5,015

Capital redemption reserve
  
5,015
5,015

Profit and loss account
  
373,906
445,712

  
383,936
455,742


Page 1

 
IMAGE OFFICE SUPPLIES LIMITED
REGISTERED NUMBER: 02591791
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 comprehensive income 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 13 November 2024.




D C M Griffin
Director


The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Image Office Supplies Limited is a company limited by shares, incorporated in of England & Wales. The address of the registered office is 2nd Floor Hygeia House, 66 College Road, Harrow, Middlesex, HA1 1BE.
The company specialises in the sale of office supplies.

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

Exemption from preparing consolidated financial statements

The Company, and the Group of which it is a part, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption not to prepare consolidated accounts.

 
2.3

Going concern

The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis. 

 
2.4

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.

Page 3

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life of ten years. 

 
2.6

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 bases.

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance

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 the Statement of comprehensive income.

 
2.7

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 reporting 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 the Statement of comprehensive income.

 
2.8

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.

Page 4

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.12

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.13

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.14

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 23).

Page 5

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
318,923



At 30 June 2024

318,923



Amortisation


At 1 July 2023
246,369


Charge for the year on owned assets
19,592



At 30 June 2024

265,961



Net book value



At 30 June 2024
52,962



At 30 June 2023
72,554



Page 6

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Other fixed assets

£



Cost 


At 1 July 2023
159,899


Additions
1,467



At 30 June 2024

161,366



Depreciation


At 1 July 2023
101,071


Charge for the year on owned assets
2,861


Charge for the year on financed assets
9,462



At 30 June 2024

113,394



Net book value



At 30 June 2024
47,972



At 30 June 2023
58,828

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Other fixed assets
28,386
37,848

28,386
37,848

Included in tangible fixed assets is leasehold land at cost of £908 (2023 - £908) which is not depreciated.

Page 7

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
24,502
36,413

24,502
36,413



7.


Debtors

2024
2023
£
£


Trade debtors
457,473
581,758

Other debtors
254,982
258,084

Prepayments and accrued income
26,491
53,770

738,946
893,612



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
40,181
113,511

Less: Bank invoice discounting facility
(14,521)
-

25,660
113,511


Page 8

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank invoice discounting facility
14,521
-

Bank loans
10,000
10,000

Trade creditors
341,151
513,400

Other taxation and social security
85,263
84,111

Obligations under finance lease and hire purchase contracts
6,275
5,254

Accruals and deferred income
12,784
39,507

469,994
652,272


At the year end, the bank held a fixed and floating charge over the company's assets.
Obligations under finance lease and hire purchase contracts are secured against the assets on which they relate.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,507
22,503

Obligations under finance leases and hire purchase contracts
38,126
44,401

50,633
66,904


Obligations under finance lease and hire purchase contracts are secured against the assets on which they relate.

Page 9

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
2,507
12,503


22,507
32,503



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,015 Ordinary shares of £1 each
5,015
5,015



13.


Pension commitments

The company operates a defined contribution 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 £35,928 (2023 - £29,610). At the balance sheet date, contributions payable amounted to £11,052 (2023 - £5,703).


14.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
90,000
90,000

Later than 1 year and not later than 5 years
67,500
157,500

157,500
247,500

Page 10

 
IMAGE OFFICE SUPPLIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

15.


Director's Benefits : advances, credit and guarantees

Included within other debtors is an amount of £201,417 (2023 - £201,417) due from D C M Griffin, a director. There are no repayment terms and no interest is charged.


16.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group. 


17.


Controlling party

Image Holdings (UK) Limited, a company registered in England and Wales, is the immediate and ultimate parent company. D C M Griffin is the ultimate controlling party.

 
Page 11