1 December 2020 false No description of principal activity Taxfiler 2022.8.3 06000937business:PrivateLimitedCompanyLtd2020-12-012021-11-30 060009372020-11-30 060009372020-12-012021-11-30 06000937business:AuditExempt-NoAccountantsReport2020-12-012021-11-30 06000937business:FullAccounts2020-12-012021-11-30 060009372021-11-30 06000937business:Director12020-12-012021-11-30 06000937business:RegisteredOffice2020-12-012021-11-30 060009372020-11-30 06000937core:WithinOneYear2021-11-30 06000937core:WithinOneYear2020-11-30 06000937core:AfterOneYear2021-11-30 06000937core:AfterOneYear2020-11-30 06000937core:ShareCapital2021-11-30 06000937core:ShareCapital2020-11-30 06000937core:RetainedEarningsAccumulatedLosses2021-11-30 06000937core:RetainedEarningsAccumulatedLosses2020-11-30 06000937business:SmallEntities2020-12-012021-11-30 06000937countries:EnglandWales2020-12-012021-11-30 06000937core:PlantMachinery2020-12-012021-11-30 06000937core:OtherPropertyPlantEquipment2020-12-012021-11-30 06000937core:PlantMachinery2020-11-30 06000937core:PlantMachinery2021-11-30 06000937core:AcceleratedTaxDepreciationDeferredTax2021-11-30 06000937core:AcceleratedTaxDepreciationDeferredTax2020-11-30 060009372019-11-30 060009372019-12-012020-11-30 iso4217:GBP xbrli:pure
Company Registration No. 06000937 (England and Wales)
Picture-Connect Limited Unaudited accounts for the year ended 30 November 2021
Picture-Connect Limited Unaudited accounts Contents
Page
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Picture-Connect Limited Company Information for the year ended 30 November 2021
Director
V Nikolaidis
Company Number
06000937 (England and Wales)
Registered Office
3 Albert Embankment London SE1 7SP England
Accountants
Financial and Accounting Solutions 6 Hadleigh Close Harrow Middlesex HA2 8FA
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Picture-Connect Limited Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
451,414 
627,879 
Current assets
Debtors
40,311 
17,000 
Cash at bank and in hand
22,011 
31,195 
62,322 
48,195 
Creditors: amounts falling due within one year
(142,444)
(338,649)
Net current liabilities
(80,122)
(290,454)
Total assets less current liabilities
371,292 
337,425 
Creditors: amounts falling due after more than one year
(417,565)
(397,534)
Provisions for liabilities
Deferred tax
(19,495)
(25,993)
Net liabilities
(65,768)
(86,102)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(65,868)
(86,202)
Shareholders' funds
(65,768)
(86,102)
For the year ending 30 November 2021 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 25 August 2022 and were signed on its behalf by
V Nikolaidis Director Company Registration No. 06000937
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
Picture-Connect Limited is a private company, limited by shares, registered in England and Wales, registration number 06000937. The registered office is 3 Albert Embankment, London, SE1 7SP, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
20% WDV
Other tangible fixed assets
3-5 years ( based on lease period)
Leased assets
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.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2020
1,176,826 
At 30 November 2021
1,176,826 
Depreciation
At 1 December 2020
548,947 
Charge for the year
176,465 
At 30 November 2021
725,412 
Net book value
At 30 November 2021
451,414 
At 30 November 2020
627,879 
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2021
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
6,420 
- 
Trade debtors
6,000 
- 
Accrued income and prepayments
25,500 
17,000 
37,920 
17,000 
Debtors: amounts falling due after more than one year
Other debtors
2,391 
- 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
- 
4,062 
Obligations under finance leases and hire purchase contracts
135,359 
134,537 
Trade creditors
3,110 
11,023 
Taxes and social security
- 
6,275 
Loans from directors
- 
178,777 
Accruals
3,975 
3,975 
142,444 
338,649 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Obligations under finance leases and hire purchase contracts
261,256 
397,436 
Other creditors
20,008 
98 
Loans from directors
136,301 
- 
417,565 
397,534 
8
Deferred taxation
2021 
2020 
£ 
£ 
Accelerated capital allowances
19,495 
25,993 
2021 
2020 
£ 
£ 
Provision at start of year
25,993 
34,657 
Credited to the profit and loss account
(6,498)
(8,664)
Provision at end of year
19,495 
25,993 
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2021
9
Transactions with related parties
During the year the company traded with Westminster Live Limited (WML) and provided services in the year to the value of £61,200 (YE 30/11/20 - £156,000) and amount owed to Picture Connect Ltd was £Nil (YE 31/11/20 £Nil). The company also traded with Camelot Broadcasting Services Gmbh (CBSG) and transactions in the year were £152,300 (YE 31/11/20 - £40,300) and amount owed by CBSG was £6,000 (YE 30/11/20 - £Nil). The company also traded with Premier Media Agency Ltd and transactions in the year was Nil (YE 31/11/20 -£4,675) and amount owed is Nil (YE 30/11/20 - nil). These companies are related to each other by a common director and shareholder.
10
Average number of employees
During the year the average number of employees was 1 (2020: 1).
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