Company Registration No. 05471891 (England and Wales)
Images Plus Limited
Unaudited accounts
for the year ended 31 December 2024
Images Plus Limited
Unaudited accounts
Contents
Images Plus Limited
Company Information
for the year ended 31 December 2024
Director
Peter Arthur Thomas Ray
Company Number
05471891 (England and Wales)
Registered Office
48-50 High Street
Cheltenham
GL50 1EE
England
Accountants
Next Level Accountants Limited
35 Goddard Way
Tuffley
Gloucester
Gloucestershire
GL4 0YA
Images Plus Limited
Statement of financial position
as at 31 December 2024
Tangible assets
25,703
18,271
Cash at bank and in hand
8,965
2,610
Creditors: amounts falling due within one year
(66,124)
(64,002)
Net current liabilities
(45,319)
(53,392)
Total assets less current liabilities
(19,616)
(35,121)
Creditors: amounts falling due after more than one year
(176,515)
(149,282)
Net liabilities
(196,131)
(184,403)
Called up share capital
20
20
Profit and loss account
(196,151)
(184,423)
Shareholders' funds
(196,131)
(184,403)
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2025 and were signed on its behalf by
Peter Arthur Thomas Ray
Director
Company Registration No. 05471891
Images Plus Limited
Notes to the Accounts
for the year ended 31 December 2024
Images Plus Limited is a private company, limited by shares, registered in England and Wales, registration number 05471891. The registered office is 48-50 High Street, Cheltenham, GL50 1EE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Images Plus Limited
Notes to the Accounts
for the year ended 31 December 2024
Despite having net liabilities at the reporting date, the director has reviewed the future cash flows of the company and with his continued financial support, has prepared these financial statements on a going concern basis.
4
Tangible fixed assets
Plant & machinery
At 31 December 2024
70,900
At 31 December 2024
45,197
At 31 December 2024
25,703
At 31 December 2023
18,271
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
13,297
10,491
Obligations under finance leases and hire purchase contracts
9,019
4,536
Trade creditors
1,938
8,251
Taxes and social security
9,925
9,780
Loans from directors
20,000
20,000
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
12,827
9,415
Other creditors
5,000
5,000
Loans from directors
110,609
124,195
Images Plus Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 5 (2023: 4).