New Paradigm Images Limited - Accounts to registrar - small 16.3d
New Paradigm Images Limited - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016 |
| 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 2016 |
| 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 2016 |
| 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 2016 |
| 2016 | 2015 |
| 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 2016 |
| 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 2016 |
| 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. |
| Transition to Financial Reporting Standard 102 |
| The date of transition for the Financial Reporting Standard 102 purposes was 1st July 2014. As part of the |
| transition process, there have been no changes to accounting policies. In addition, there have been no transitional |
| adjustments necessary to reconcile equity determined in accordance with the previous financial reporting |
| framework to equity determined in accordance with the Financial Reporting Standard 102 as at the date of |
| transition and at the end of the latest period presented in the company's most recent financial statements |
| determined in accordance with its previous financial reporting framework. No transitional adjustments have been |
| required, in addition, to reconcile the profit or loss determined in accordance with the company's previous |
| financial reporting framework for the latest period in the company's most recent annual financial statements to its |
| profit or loss determined in accordance with the Financial Reporting Standard 102 for the same period. |
| Tangible fixed assets |
| Office equipment | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 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. |
| 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. |
| 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. |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2016 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2015 |
| Additions |
| At 30 June 2016 |
| AMORTISATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 5. | TANGIBLE FIXED ASSETS |
| Office | Computer |
| equipment | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2015 |
| Additions |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| NEW PARADIGM IMAGES LIMITED (REGISTERED NUMBER: 06646970) |
| TRADING AS IKON IMAGES |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2016 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Other creditors |
| 9. | RELATED PARTY DISCLOSURES |
| As at 30th June 2016, the company owed £19,510 (2015 £29,510) to Mr Lund, the director, as shown within |
| creditors due after more than one year. |