| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| FOR |
| IMAGE DISPLAY & GRAPHICS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| FOR |
| IMAGE DISPLAY & GRAPHICS LTD |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| IMAGE DISPLAY & GRAPHICS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| BALANCE SHEET |
| 31 JANUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| BALANCE SHEET - continued |
| 31 JANUARY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Image Display & Graphics Ltd is a |
| 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 and previously under Financial Reporting Standard 105, the company has taken advantage of the transitional exemptions with the only effect being the introduction of the provision for deferred tax. The financial statements have been prepared under the historical cost convention. |
| Going concern |
| The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its 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. |
| Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods. |
| Rendering of services |
| Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Depreciation is provided on the following basis: |
| Long leasehold - 10% straight line |
| Hire stocks - 25% reducing balance |
| Plant and machinery - 5% reducing balance |
| Fixtures and fittings - 10% reducing balance |
| Motor vehicles - 25% reducing balance |
| Equipment - 15% reducing balance |
| Depreciation is not charged on property and improvements to property as the directors are of the opinion that the property is maintained to a standard whereby the useful economic life exceeds the cost. |
| 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 Income and retained earnings. |
| Stocks |
| Cost is calculated using the first in, first out method. |
| Financial instruments |
| The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| 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. |
| 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. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Hire | Plant and |
| leasehold | stocks | machinery |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor |
| fittings | vehicles | Equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Payments on account |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | ULTIMATE CONTROLLING PARTY |
| The company is under the ultimate control of the directors. |
| IMAGE DISPLAY & GRAPHICS LTD (REGISTERED NUMBER: 03434495) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| 8. | RECONCILIATION OF EQUITY |
Note |
At 1 Feb 2023 |
At 31 Jan 2024 |
| £ | £ |
| Capital and reserves (as previously restated) | 160,940 | 206,472 |
| Recognition of deferred tax liability | (21,432 | ) | (25,350 | ) |
| Capital and reserves (as restated) | 139,508 | 181,122 |
| 31 Jan 2024 |
| £ |
| Profit for the year (as previously restated) | 140,982 |
| Recognition of deferred tax liability | 1 | (3,918 | ) |
| Profit for the year (as restated) | 137,064 |
| Note 1 |
| The company applied FRS 105 and was not previously required to recognise deferred tax liability on the balance sheet. Deferred tax liability in FRS 102 and are recognised as a financial assets or a financial liability. Consequently, financial liabilities of £21,432 have been recognised in the opening balance sheet at 1 February 2023. Financial liabilities of £25,350 have been recognised in the balance sheet at 31 January 2024. Changes in the deferred tax liability are recognised in the profit or loss with the effect on profit for the year ended 31 January 2024 being a decrease of £3,918. |