Company Registration No. 02404077 (England and Wales)
INDEPENDENT IMAGE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
INDEPENDENT IMAGE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
INDEPENDENT IMAGE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,989
21,160
Current assets
Debtors
385
231
Cash at bank and in hand
1,331
812
1,716
1,043
Creditors: amounts falling due within one year
(93,326)
(82,427)
Net current liabilities
(91,610)
(81,384)
Total assets less current liabilities
(71,621)
(60,224)
Capital and reserves
Called up share capital
3
518,042
518,042
Profit and loss account
(589,663)
(578,266)
Shareholders' funds
(71,621)
(60,224)
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 8 August 2016
Mr D Wickham
Director
Company Registration No. 02404077
INDEPENDENT IMAGE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The accounts have been prepared on the going concern basis given the continued support of the director through his loan account.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
5% on cost
Computer equipment
25% straight line
Fixtures, fittings & equipment
25% written down value
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
173,931
Additions
959
At 31 December 2015
174,890
Depreciation
At 1 January 2015
152,771
Charge for the period
2,130
At 31 December 2015
154,901
Net book value
At 31 December 2015
19,989
At 31 December 2014
21,160
INDEPENDENT IMAGE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2,500 A ordinary shares of £1 each
2,500
2,500
515,542 B ordinary shares of £1 each
515,542
515,542
518,042
518,042
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