Company Registration No. 10116854 (England and Wales)
Auto Imaging Limited
Unaudited accounts
for the year ended 31 March 2022
Auto Imaging Limited
Unaudited accounts
Contents
Auto Imaging Limited
Company Information
for the year ended 31 March 2022
Director
Christopher Gray
Secretary
Ashley David Coe
Company Number
10116854 (England and Wales)
Registered Office
8 MALBOROUGH ROAD COLMWORTH BUSINESS PAR
EATON SOCON
ST NEOTS
CAMBS
PE19 8YP
ENGLAND
Auto Imaging Limited
Statement of financial position
as at
31 March 2022
Intangible assets
234,338
138,692
Tangible assets
22,347
50,247
Cash at bank and in hand
2,066
7,005
Creditors: amounts falling due within one year
(370,892)
(221,694)
Net current liabilities
(89,049)
(14,886)
Total assets less current liabilities
167,636
174,053
Creditors: amounts falling due after more than one year
(42,995)
(124,994)
Net assets
124,641
49,059
Called up share capital
100
100
Profit and loss account
124,541
48,959
Shareholders' funds
124,641
49,059
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2022 and were signed on its behalf by
Christopher Gray
Director
Company Registration No. 10116854
Auto Imaging Limited
Notes to the Accounts
for the year ended 31 March 2022
Auto Imaging Limited is a private company, limited by shares, registered in England and Wales, registration number 10116854. The registered office is 8 MALBOROUGH ROAD COLMWORTH BUSINESS PAR, EATON SOCON, ST NEOTS, CAMBS, PE19 8YP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Auto Imaging Limited
Notes to the Accounts
for the year ended 31 March 2022
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Charge for the year
105,320
Intangible assets have been reclassified vs the prior set of accounts
Auto Imaging Limited
Notes to the Accounts
for the year ended 31 March 2022
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2021
2,783
103,770
106,553
At 31 March 2022
2,783
108,980
111,763
At 1 April 2021
2,783
53,523
56,306
Charge for the year
-
33,110
33,110
At 31 March 2022
2,783
86,633
89,416
At 31 March 2022
-
22,347
22,347
At 31 March 2021
-
50,247
50,247
Finished goods
26,599
9,744
Amounts falling due within one year
Trade debtors
214,333
164,416
Deferred tax asset
25,335
16,760
Accrued income and prepayments
2,240
3,369
Amounts falling due after more than one year
8
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
112,078
7,099
Trade creditors
98,477
51,436
Taxes and social security
13,545
13,926
Other creditors
93,650
92,482
Auto Imaging Limited
Notes to the Accounts
for the year ended 31 March 2022
9
Creditors: amounts falling due after more than one year
2022
2021
No provisions are required for the current financial year
11
Share capital
2022
2021
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
12
Transactions with related parties
During the reporting financial year Auto Imaging Ltd who are 100% owned by Eloweb Ltd were recharged cost of sales and overheads from Secure Automotive Support Ltd who own a 10% share of Eloweb Ltd. These stated costs were re charged at cost price.
Auto Imaging Ltd are 100% owned by Eloweb Ltd, a company which is incorporated in England and Wales.
Address: 6/8 Marlborough Road, Colmworth Business Park, Eaton Socon, St Neots, PE19 8YP
Company Number: 12180188
14
Post balance sheet events
On the 2nd September 2022, the full shares of Auto Imaging and parent company Eloweb Ltd were acquired by Argus Bidco Ltd.
15
Average number of employees
During the year the average number of employees was 12 (2021: 12).
16
Reconciliations on adoption of FRS 102