Information In Images Limited - Abbreviated accounts 16.3
Information In Images Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 31 August 2016 |
| for |
| Information In Images Limited |
| Information In Images Limited (Registered number: 08674259) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 August 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Information In Images Limited |
| Company Information |
| for the Year Ended 31 August 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Information In Images Limited (Registered number: 08674259) |
| Abbreviated Balance Sheet |
| 31 August 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| 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. |
| The financial statements were approved by the director on |
| Information In Images Limited (Registered number: 08674259) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 August 2016 |
| 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 January 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is |
| recognised when the company obtains the right to consideration. |
| Depreciation |
| Depreciation has been provided at the following rates in order to write-off the assets over their estimated useful lives. |
| Computer and office equipment - over 2 years (straight line) |
| 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 between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses |
| in tax assessments in periods different from those in which they are recognised in the financial statements. |
| A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there |
| will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted. |
| Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the |
| revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more |
| likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold. |
| Research and development |
| Research expenditure is written off as incurred. Development expenditure is also written off, except where the company is satisfied as to the |
| technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is deferred and amortised |
| over the period during which the group is expected to benefit. |
| Foreign currencies |
| Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and |
| liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and |
| losses on translation are included in the profit and loss account. |
| Current taxation |
| Corporation tax payable is provided on taxable profits at the current rate. |
| Government grants |
| Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over |
| the estimated useful economics lives of the assets to which they relate. |
| Leases |
| Where the Company enters into a lease which entails taking substantially all the risks and rewards of the ownership of an asset, the lease is |
| treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful |
| life or the term of the lease, whichever is shorter. Future instalments under such lease, net of finance charges, are included within creditors. |
| Rentals payable are apportioned between the finance element which is charged to the Income and Expenditure account, and the capital |
| element which reduces the outstanding obligation for future instalments. |
| All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the Income and Expenditure account on a |
| straight line basis over the life of the lease. |
| Information In Images Limited (Registered number: 08674259) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 August 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2015 |
| Additions |
| At 31 August 2016 |
| DEPRECIATION |
| At 1 September 2015 |
| Charge for year |
| At 31 August 2016 |
| NET BOOK VALUE |
| At 31 August 2016 |
| At 31 August 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2016 and 31 August 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |