Acorah Software Products - Accounts Production 19.4.300 false true true 30 November 2024 1 December 2023 false 1 December 2024 30 November 2025 30 November 2025 3674033 Mrs Tracey Morris Mr Stuart Morris Mrs Tracey Morris iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 3674033 2024-11-30 3674033 2025-11-30 3674033 2024-12-01 2025-11-30 3674033 frs-core:CurrentFinancialInstruments 2025-11-30 3674033 frs-core:Non-currentFinancialInstruments 2025-11-30 3674033 frs-core:BetweenOneFiveYears 2025-11-30 3674033 frs-core:ComputerEquipment 2024-12-01 2025-11-30 3674033 frs-core:FurnitureFittings 2025-11-30 3674033 frs-core:FurnitureFittings 2024-12-01 2025-11-30 3674033 frs-core:FurnitureFittings 2024-11-30 3674033 frs-core:NetGoodwill 2025-11-30 3674033 frs-core:NetGoodwill 2024-12-01 2025-11-30 3674033 frs-core:NetGoodwill 2024-11-30 3674033 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-11-30 3674033 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-01 2025-11-30 3674033 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-11-30 3674033 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-01 2025-11-30 3674033 frs-core:MotorVehicles 2025-11-30 3674033 frs-core:MotorVehicles 2024-12-01 2025-11-30 3674033 frs-core:MotorVehicles 2024-11-30 3674033 frs-core:WithinOneYear 2025-11-30 3674033 frs-core:ShareCapital 2025-11-30 3674033 frs-core:RetainedEarningsAccumulatedLosses 2025-11-30 3674033 frs-bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 3674033 frs-bus:FilletedAccounts 2024-12-01 2025-11-30 3674033 frs-bus:SmallEntities 2024-12-01 2025-11-30 3674033 frs-bus:AuditExempt-NoAccountantsReport 2024-12-01 2025-11-30 3674033 frs-bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 3674033 frs-bus:Director1 2024-12-01 2025-11-30 3674033 frs-bus:Director2 2024-12-01 2025-11-30 3674033 frs-bus:CompanySecretary1 2024-12-01 2025-11-30 3674033 frs-countries:EnglandWales 2024-12-01 2025-11-30 3674033 2023-11-30 3674033 2024-11-30 3674033 2023-12-01 2024-11-30 3674033 frs-core:CurrentFinancialInstruments 2024-11-30 3674033 frs-core:Non-currentFinancialInstruments 2024-11-30 3674033 frs-core:BetweenOneFiveYears 2024-11-30 3674033 frs-core:WithinOneYear 2024-11-30 3674033 frs-core:ShareCapital 2024-11-30 3674033 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 3674033 frs-core:CurrentFinancialInstruments 1 2024-11-30
Registered number: 3674033
Images Galleries Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 3674033
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 13,520 35,892
13,520 35,892
CURRENT ASSETS
Stocks 6 235,000 340,000
Debtors 7 37,610 36,298
Cash at bank and in hand 308,550 345,387
581,160 721,685
Creditors: Amounts Falling Due Within One Year 8 (286,252 ) (523,585 )
NET CURRENT ASSETS (LIABILITIES) 294,908 198,100
TOTAL ASSETS LESS CURRENT LIABILITIES 308,428 233,992
Creditors: Amounts Falling Due After More Than One Year 9 - 10,426
NET ASSETS 308,428 244,418
CAPITAL AND RESERVES
Called up share capital 11 300 300
Profit and Loss Account 308,128 244,118
SHAREHOLDERS' FUNDS 308,428 244,418
Page 1
Page 2
For the year ending 30 November 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Tracey Morris
Director
31/08/2026
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Images Galleries Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 3674033 . The registered office is The Hollies, Low Street, East Drayton, near Retford, Notts, DN22 0LN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as the directors intend to cease trading as they wish to retire and there is no prospect of the business continuing in the future. Consequently, some values have been applied to these accounts on a breakup basis
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
The Directors consider that the market value of the Freehold Land and Buildings is significantly higher that the Net Book carrying value shown by the historic value.
Freehold Straight line over 25 years
Leasehold 10% straight line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Page 3
Page 4
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 14)
12 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2024 14,582
As at 30 November 2025 14,582
Amortisation
As at 1 December 2024 14,582
As at 30 November 2025 14,582
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 November 2025 -
As at 1 December 2024 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2024 76,901 71,490 6,977 155,368
Disposals (27,516 ) - - (27,516 )
As at 30 November 2025 49,385 71,490 6,977 127,852
Depreciation
As at 1 December 2024 58,153 55,746 5,577 119,476
Provided during the period 13,064 7,873 131 21,068
Disposals (27,516 ) - 1,304 (26,212 )
As at 30 November 2025 43,701 63,619 7,012 114,332
Net Book Value
As at 30 November 2025 5,684 7,871 (35 ) 13,520
As at 1 December 2024 18,748 15,744 1,400 35,892
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
6. Stocks
2025 2024
£ £
Stock 235,000 340,000
Page 5
Page 6
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors (11,629 ) 15,822
Prepayments and accrued income - 2,168
Other taxes and social security 49,239 15,814
Directors' loan accounts - 2,494
37,610 36,298
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 10,425
Trade creditors 168,139 451,569
Corporation tax 23,172 27,372
VAT 85,657 8,656
Other creditors 3,342 4,151
Other creditors (1) - (473 )
Accruals and deferred income 4,661 21,874
Directors' loan accounts 1,281 11
286,252 523,585
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - (10,426 )
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 10,425
Later than one year and not later than five years - (10,426 )
- (1 )
- (1 )
Page 6
Page 7
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 300 300
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
2025 2024
£ £
Mrs Tracey Morris 45,000 24,000
Mr Stuart Morris 45,000 24,000
Page 7