Focal Image Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02245945 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

FOCAL IMAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr K Bazargan

SECRETARY:

Ms C M Smith

REGISTERED OFFICE:

5 Giffard Court

Millbrook Close

Northampton

NN5 5JF

REGISTERED NUMBER:

02245945 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Tangible assets

4

1,257

1,679

CURRENT ASSETS

Debtors

5

2,265,164

349,702

Cash at bank

83,862

1,741,988

2,349,026

2,091,690

CREDITORS

Amounts falling due within one year

6

335,121

194,121

NET CURRENT ASSETS

2,013,905

1,897,569

TOTAL ASSETS LESS CURRENT LIABILITIES

2,015,162

1,899,248

PROVISIONS FOR LIABILITIES

239

-

NET ASSETS

2,014,923

1,899,248

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,014,823

1,899,148

SHAREHOLDERS' FUNDS

2,014,923

1,899,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2024 and were signed by:

Dr K Bazargan - Director

1.	STATUTORY INFORMATION

Focal Image Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents revenue recognised by the company in respect of goods and services supplied

during the year, exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2022

and 31 August 2023

7,282

9,611

16,893

DEPRECIATION

At 1 September 2022

7,001

8,213

15,214

Charge for year

70

352

422

At 31 August 2023

7,071

8,565

15,636

NET BOOK VALUE

At 31 August 2023

211

1,046

1,257

At 31 August 2022

281

1,398

1,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

12,037

Other debtors

2,265,164

337,665

2,265,164

349,702

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

2,167

181,404

Taxation and social security

1,166

-

Other creditors

331,788

12,717

335,121

194,121