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Abbreviated Unaudited Accounts for the Year Ended 31 July 2015 |
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Image Systems & Technology Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 July 2015 |
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Image Systems & Technology Limited |
Image Systems & Technology Limited (Registered number: SC158231) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 July 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 5 |
Image Systems & Technology Limited |
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Company Information |
for the Year Ended 31 July 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Image Systems & Technology Limited (Registered number: SC158231) |
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Abbreviated Balance Sheet |
31 July 2015 |
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31.7.15 | 31.7.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors on
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Image Systems & Technology Limited (Registered number: SC158231) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 July 2015 |
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1. | ACCOUNTING POLICIES |
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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 April 2008). |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the |
goods are physically delivered to the customer. Turnover from the supply of services represents the value of |
services provided under contracts to the extent that there is a right to the considerations and is recorded at the |
value of the considerations due. Where a contract has only been partially completed at the balance sheet date |
turnover represents the value of the services provided to date based on a proportion of the total contract value. |
Where payments are received from customers in advance of services provided, the amounts are recorded as |
deferred income and included as part of creditors due within one year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 August 2014 |
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Additions |
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At 31 July 2015 |
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DEPRECIATION |
At 1 August 2014 |
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Charge for year |
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At 31 July 2015 |
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NET BOOK VALUE |
At 31 July 2015 |
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At 31 July 2014 |
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Image Systems & Technology Limited (Registered number: SC158231) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.15 | 31.7.14 |
value: | £ | £ |
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Ordinary Shares | £1.00 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 July 2015 and |
31 July 2014: |
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31.7.15 | 31.7.14 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Image Systems & Technology Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Image Systems & Technology Limited for the year ended 31 July 2015 which comprise the Profit |
and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Image Systems & Technology Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Image Systems & Technology Limited and state those matters that we have agreed to state to the Board of Directors of Image Systems & Technology Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Image Systems & Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Image Systems & Technology Limited. You consider that Image Systems & Technology Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Image Systems & |
Technology Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or |
information and explanations you have given to us and we do not, therefore, express any opinion on the statutory |
financial statements. |
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21 March 2016 |