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Company Registration No. 06539299 (England and Wales)
Basement Photographic Limited Unaudited accounts for the year ended 31 March 2023
Basement Photographic Limited Unaudited accounts Contents
Page
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Basement Photographic Limited Company Information for the year ended 31 March 2023
Directors
Helen Burkitt Timothy Burkitt
Secretary
Helen Burkitt
Company Number
06539299 (England and Wales)
Registered Office
83 DUCIE STREET MANCHESTER M1 2JQ ENGLAND
Accountants
The Straightener Limited 83 Ducie Street Manchester M1 2JQ
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Basement Photographic Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,731 
20,706 
Current assets
Debtors
77,484 
84,787 
Cash at bank and in hand
60,529 
137,680 
138,013 
222,467 
Creditors: amounts falling due within one year
(137,960)
(190,349)
Net current assets
53 
32,118 
Total assets less current liabilities
25,784 
52,824 
Creditors: amounts falling due after more than one year
(13,022)
(18,844)
Provisions for liabilities
Deferred tax
(4,889)
(3,935)
Net assets
7,873 
30,045 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
6,873 
29,045 
Shareholders' funds
7,873 
30,045 
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by
Timothy Burkitt Director Company Registration No. 06539299
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Basement Photographic Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Basement Photographic Limited is a private company, limited by shares, registered in England and Wales, registration number 06539299. The registered office is 83 DUCIE STREET, MANCHESTER, M1 2JQ, 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
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
25% per annum reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is provided against purchased goodwill on a straight line basis over ten years.
Deferred taxation
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.
Financial instruments
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.
Turnover
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.
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Basement Photographic Limited Notes to the Accounts for the year ended 31 March 2023
Government grants
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
75,000 
At 31 March 2023
75,000 
Amortisation
At 1 April 2022
75,000 
At 31 March 2023
75,000 
Net book value
At 31 March 2023
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
56,296 
12,792 
14,568 
83,656 
Additions
9,143 
- 
2,559 
11,702 
At 31 March 2023
65,439 
12,792 
17,127 
95,358 
Depreciation
At 1 April 2022
40,198 
11,511 
11,241 
62,950 
Charge for the year
4,954 
320 
1,403 
6,677 
At 31 March 2023
45,152 
11,831 
12,644 
69,627 
Net book value
At 31 March 2023
20,287 
961 
4,483 
25,731 
At 31 March 2022
16,098 
1,281 
3,327 
20,706 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
40,137 
50,194 
Accrued income and prepayments
37,347 
34,593 
77,484 
84,787 
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Basement Photographic Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,389 
6,389 
Trade creditors
31,530 
33,680 
Taxes and social security
7,852 
38,972 
Other creditors
4,467 
1,879 
Loans from directors
84,987 
106,238 
Accruals
2,735 
3,191 
137,960 
190,349 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
13,022 
18,844 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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