New Paradigm Images Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06646970 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014

FOR

NEW PARADIGM IMAGES LIMITED

TRADING AS

IKON IMAGES

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A C L Coningsby

T W Lund

REGISTERED OFFICE:

30 Tottenham Street

London

W1T 4RJ

REGISTERED NUMBER:

06646970 (England and Wales)

ACCOUNTANTS:

Knight Wheeler Limited

Chartered Accountants

54 Sun Street

Waltham Abbey

Essex

EN9 1EJ

FIXED ASSETS

Intangible assets

2

48,356

35,965

Tangible assets

3

601

1,278

48,957

37,243

CURRENT ASSETS

Debtors

31,389

49,381

Cash at bank

32,951

38,718

64,340

88,099

CREDITORS

Amounts falling due within one year

(41,114

)

(48,826

)

NET CURRENT ASSETS

23,226

39,273

TOTAL ASSETS LESS CURRENT LIABILITIES

72,183

76,516

CREDITORS

Amounts falling due after more than one year

(59,020

)

(59,020

)

NET ASSETS

13,163

17,496

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

12,163

16,496

SHAREHOLDERS' FUNDS

13,163

17,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13 October 2014 and were signed on its behalf by:

A C L Coningsby - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding 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.

Office equipment

-

10% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

53,616

Additions

28,894

At 30 June 2014

82,510

AMORTISATION

At 1 July 2013

17,651

Amortisation for year

16,503

At 30 June 2014

34,154

NET BOOK VALUE

At 30 June 2014

48,356

At 30 June 2013

35,965

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

3,404

DEPRECIATION

At 1 July 2013

2,126

Charge for year

677

At 30 June 2014

2,803

NET BOOK VALUE

At 30 June 2014

601

At 30 June 2013

1,278

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£10

1,000

1,000