REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st August 2024 |
for |
Information In Images Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st August 2024 |
for |
Information In Images Limited |
Information In Images Limited (Registered number: 08674259) |
Contents of the Financial Statements |
for the Year Ended 31st August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Information In Images Limited |
Company Information |
for the Year Ended 31st August 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Caxton House |
Broad Street |
Cambourne |
Cambridge |
Cambridgeshire |
CB23 6JN |
Information In Images Limited (Registered number: 08674259) |
Balance Sheet |
31st August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 7 | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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 were approved by the director and authorised for issue on |
Information In Images Limited (Registered number: 08674259) |
Notes to the Financial Statements |
for the Year Ended 31st August 2024 |
1. | STATUTORY INFORMATION |
Information In Images Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Depreciation |
Depreciation has been provided at the following rates in order to write-off the assets over their estimated useful lives. |
Computer and office equipment - over 2 years (straight line) |
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. |
Research and development |
Research expenditure is written off as incurred. Development expenditure is also written off, except where the company is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised over the period during which the group is expected to benefit. |
Foreign currencies |
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses on translation are included in the profit and loss account. |
Government grants |
Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over the estimated useful economics lives of the assets to which they relate. |
Information In Images Limited (Registered number: 08674259) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
2. | ACCOUNTING POLICIES - continued |
Leases |
Where the Company enters into a lease which entails taking substantially all the risks and rewards of the ownership of an asset, the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such lease, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element which is charged to the Income and Expenditure account, and the capital element which reduces the outstanding obligation for future instalments. |
All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the Income and Expenditure account on a straight line basis over the life of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st September 2023 |
and 31st August 2024 |
DEPRECIATION |
At 1st September 2023 |
Charge for year |
At 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT | - | 323 |
Directors' current accounts | 38,879 | 27,879 |
Information In Images Limited (Registered number: 08674259) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2024 |
7. | RESERVES |
Retained |
earnings |
£ |
At 1st September 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31st August 2024 | ( |
) |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits from a director subsisted during the years ended 31st August 2024 and 31st August 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
9. | RELATED PARTY DISCLOSURES |
At the balance sheet date the total balance due to Mr M Broderick was £38,879 (2023: £27,879). No interest is payable on this loan and it is repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr M Broderick, who owns and controls 100% of the issued ordinary share capital of the company. |