New Paradigm Images Limited - Accounts to registrar (filleted) - small 18.2
New Paradigm Images Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 |
| FOR |
| NEW PARADIGM IMAGES LIMITED |
| TRADING AS |
| IKON IMAGES |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NEW PARADIGM IMAGES LIMITED |
| TRADING AS IKON IMAGES |
| COMPANY INFORMATION |
| for the Year Ended 30 June 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 54 Sun Street |
| Waltham Abbey |
| Essex |
| EN9 1EJ |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| BALANCE SHEET |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| BALANCE SHEET - continued |
| 30 June 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| New Paradigm Images Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling (£) which is also the functional currency for the company and |
| rounded to the nearest £. |
| Tangible fixed assets |
| Office equipment | - |
| Computer equipment | - |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Intangible fixed assets |
| The company has incurred expenditure on developing a digital library of images which has been accounted for as |
| the development of an intangible asset. The directors review the valuation of all fixed asset categories annually |
| for impairment. They estimate the useful economic life of this asset to be five years, and the asset costs are |
| amortised over this period. |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. Turnover is derived from royalty income received from a library of digital |
| images maintained by the company. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2018 |
| Additions |
| At 30 June 2019 |
| AMORTISATION |
| At 1 July 2018 |
| Charge for year |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Office | Computer |
| equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2018 |
| and 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| and 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other creditors |