Company Registration No. 08708163 (England and Wales)
SPOTMATIK LTD
Unaudited accounts
for the year ended 30 September 2024
SPOTMATIK LTD
Unaudited accounts
Contents
SPOTMATIK LTD
Company Information
for the year ended 30 September 2024
Directors
J P Careless
M Oherova
Company Number
08708163 (England and Wales)
Registered Office
128 City Road
London
EC1V 2NX
England
Accountants
Cornerstone Accountancy Ltd
23 Summers Lane
North Finchley
London
N12 0PE
SPOTMATIK LTD
Statement of financial position
as at 30 September 2024
Cash at bank and in hand
46,430
59,427
Creditors: amounts falling due within one year
(539,827)
(542,058)
Net current liabilities
(52,991)
(39,431)
Total assets less current liabilities
(52,777)
(35,150)
Provisions for liabilities
Net liabilities
(52,817)
(35,963)
Called up share capital
100
100
Profit and loss account
(52,917)
(36,063)
Shareholders' funds
(52,817)
(35,963)
For the year ending 30 September 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 directors acknowledge their 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 of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by
J P Careless
Director
Company Registration No. 08708163
SPOTMATIK LTD
Notes to the Accounts
for the year ended 30 September 2024
SPOTMATIK LTD is a private company, limited by shares, registered in England and Wales, registration number 08708163. The registered office is 128 City Road, London, EC1V 2NX, 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.
Revenue represents the net invoiced sales of stock footage, excluding Value Added Tax.
Revenue from stock footage is recognised in the profit and loss account at the point of sale which is when the content is downloaded from online collections.
The accounts are presented in £ sterling.
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% on a straight line basis
Intangible fixed assets (including goodwill)
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.
Intangible assets, other than goodwill comprise photo stock collections and are currently amortised over 3 years.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
SPOTMATIK LTD
Notes to the Accounts
for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 October 2023
1,000,000
58,994
1,058,994
At 30 September 2024
1,000,000
58,994
1,058,994
At 1 October 2023
1,000,000
58,994
1,058,994
At 30 September 2024
1,000,000
58,994
1,058,994
At 30 September 2024
-
-
-
5
Tangible fixed assets
Plant & machinery
At 30 September 2024
203,406
At 30 September 2024
203,192
At 30 September 2023
4,281
Amounts falling due within one year
Accrued income and prepayments
4,500
-
Amounts falling due after more than one year
Other debtors
435,176
434,732
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
142
-
Loans from directors
519,117
540,608
SPOTMATIK LTD
Notes to the Accounts
for the year ended 30 September 2024
8
Transactions with related parties
During the year the Company made advances on loans to two companies under common control. The balances, within other debtors due in more than one year, comprised of an opening balance of £434,732 and further advances totalling £444 leaving a closing balance of £435,176 (2023: £434,732). These loans are unsecured, interest free and there are no fixed repayment terms. It is not expected that any of the loans will be repaid in the next 12 months.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).