The Real Image Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07584533 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2017

for

The Real Image Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L M Daniels

Mrs J A Jones

Mrs C E Pilgrim

REGISTERED OFFICE:

4-5 Union Drive

Boldmere

Sutton Coldfield

West Midlands

B73 5TE

REGISTERED NUMBER:

07584533 (England and Wales)

ACCOUNTANTS:

Colin Meager & Co. Limited

Chartered Accountants

Regent Court

68 Caroline Street

Jewellery Quarter

Birmingham

West Midlands

B3 1UG

FIXED ASSETS

Intangible assets

4

28,716

38,287

Tangible assets

5

22,648

1,083

51,364

39,370

CURRENT ASSETS

Stocks

31,668

24,164

Debtors

6

76,329

63,463

Cash at bank

11,935

49,369

119,932

136,996

CREDITORS

Amounts falling due within one year

7

78,452

97,470

NET CURRENT ASSETS

41,480

39,526

TOTAL ASSETS LESS CURRENT LIABILITIES

92,844

78,896

CREDITORS

Amounts falling due after more than one year

8

18,575

-

NET ASSETS

74,269

78,896

CAPITAL AND RESERVES

Called up share capital

68,000

68,000

Retained earnings

6,269

10,896

SHAREHOLDERS' FUNDS

74,269

78,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 May 2018 and were signed on its behalf by:

Mrs J A Jones - Director

Mrs C E Pilgrim - Director

1.	STATUTORY INFORMATION

The Real Image Limited is a private company, limited by shares , registered in England and Wales. The

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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the period of the lease

Fixtures and fittings

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

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 arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

67,000

AMORTISATION

At 1 September 2016

28,713

Charge for year

9,571

At 31 August 2017

38,284

NET BOOK VALUE

At 31 August 2017

28,716

At 31 August 2016

38,287

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2016

-

2,706

2,706

Additions

25,616

-

25,616

At 31 August 2017

25,616

2,706

28,322

DEPRECIATION

At 1 September 2016

-

1,623

1,623

Charge for year

3,510

541

4,051

At 31 August 2017

3,510

2,164

5,674

NET BOOK VALUE

At 31 August 2017

22,106

542

22,648

At 31 August 2016

-

1,083

1,083

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

43,566

52,757

Other debtors

9,200

9,200

Directors' current accounts

22,063

306

Prepayments and accrued income

1,500

1,200

76,329

63,463

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Bank loans and overdrafts

7,181

-

Trade creditors

39,515

42,839

Tax

7,214

18,082

Social security and other taxes

1,634

1,229

VAT

14,770

23,127

B & A Sendall

(12,023

)

1,382

Net wages payable

10,496

-

Directors' current accounts

1,618

2,106

Accruals and deferred income

8,047

8,705

78,452

97,470

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

31.8.16

£

£

Bank loans - 1-2 years

8,157

-

Bank loans - 2-5 years

10,418

-

18,575

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2017 and

31 August 2016:

31.8.17

31.8.16

£

£

Mrs J A Jones

Balance outstanding at start of year

-

-

Amounts advanced

8,635

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,635

-

Mrs C E Pilgrim

Balance outstanding at start of year

-

-

Amounts advanced

6,770

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,770

-

Mrs L M Daniels

Balance outstanding at start of year

-

-

Amounts advanced

6,658

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,658

-