AJG Imaging Limited Filleted accounts for Companies House (small and micro)

AJG IMAGING LIMITED - Company Information

false false false false false false false false false true false false false false false true true No description of principal activity 2017-11-01 Sage Accounts Production Advanced 2018 - FRS 8,787 2,199 1,098 3,297 5,490 6,588 xbrli:pure xbrli:shares iso4217:GBP 06577526 2017-11-01 2018-10-31 06577526 2018-10-31 06577526 2017-10-31 06577526 2016-11-01 2017-10-31 06577526 2017-10-31 06577526 core:NetGoodwill 2017-11-01 2018-10-31 06577526 core:PlantMachinery 2017-11-01 2018-10-31 06577526 core:FurnitureFittings 2017-11-01 2018-10-31 06577526 bus:Director1 2017-11-01 2018-10-31 06577526 core:NetGoodwill 2017-10-31 06577526 core:NetGoodwill 2018-10-31 06577526 core:PlantMachinery 2017-10-31 06577526 core:FurnitureFittings 2017-10-31 06577526 core:PlantMachinery 2018-10-31 06577526 core:FurnitureFittings 2018-10-31 06577526 core:WithinOneYear 2018-10-31 06577526 core:WithinOneYear 2017-10-31 06577526 core:ShareCapital 2018-10-31 06577526 core:ShareCapital 2017-10-31 06577526 core:RetainedEarningsAccumulatedLosses 2018-10-31 06577526 core:RetainedEarningsAccumulatedLosses 2017-10-31 06577526 core:NetGoodwill 2017-10-31 06577526 core:PlantMachinery 2017-10-31 06577526 core:FurnitureFittings 2017-10-31 06577526 bus:SmallEntities 2017-11-01 2018-10-31 06577526 bus:AuditExemptWithAccountantsReport 2017-11-01 2018-10-31 06577526 bus:FullAccounts 2017-11-01 2018-10-31 06577526 bus:SmallCompaniesRegimeForAccounts 2017-11-01 2018-10-31 06577526 bus:PrivateLimitedCompanyLtd 2017-11-01 2018-10-31

COMPANY REGISTRATION NUMBER: 06577526

AJG Imaging Limited

Filleted Unaudited Financial Statements

31 October 2018

AJG Imaging Limited

Statement of Financial Position

31 October 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	5	5,490	6,588
Tangible assets	6	15,907	5,618
		--------	--------
		21,397	12,206

Current assets

Stocks		1,215	1,825
Debtors	7	–	510
Cash at bank and in hand		3,935	10,972
		-------	--------
		5,150	13,307

Creditors: amounts falling due within one year	8	22,593	25,197
		--------	--------
Net current liabilities		17,443	11,890
		--------	--------
Total assets less current liabilities		3,954	316
		-------	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	3,952	314
	-------	----
Shareholders funds	3,954	316
	-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AJG Imaging Limited

Statement of Financial Position (continued)

31 October 2018

These financial statements were approved by the board of directors and authorised for issue on 29 January 2019 , and are signed on behalf of the board by:

Mrs A Graham

Director

Company registration number: 06577526

AJG Imaging Limited

Notes to the Financial Statements

Year ended 31 October 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 98 High Street, Beckenham, Kent, BR3 1ED.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	12% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Camera equipment etc	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2017: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 November 2017 and 31 October 2018	8,787
	-------
Amortisation
At 1 November 2017	2,199
Charge for the year	1,098
	-------
At 31 October 2018	3,297
	-------
Carrying amount
At 31 October 2018	5,490
	-------
At 31 October 2017	6,588
	-------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 November 2017	7,648	2,340	9,988
Additions	15,191	402	15,593
	--------	-------	--------
At 31 October 2018	22,839	2,742	25,581
	--------	-------	--------
Depreciation
At 1 November 2017	3,346	1,024	4,370
Charge for the year	4,874	430	5,304
	--------	-------	--------
At 31 October 2018	8,220	1,454	9,674
	--------	-------	--------
Carrying amount
At 31 October 2018	14,619	1,288	15,907
	--------	-------	--------
At 31 October 2017	4,302	1,316	5,618
	--------	-------	--------

7. Debtors

	2018	2017
	£	£
Trade debtors	–	510
	----	----

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	15,134	15,462
Corporation tax	3,042	3,321
Social security and other taxes	4,290	6,379
Other creditors	127	35
	--------	--------
	22,593	25,197
	--------	--------