Company registration number 07452995 (England and Wales)
PETER BARNES BROADCAST CAMERAS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
PETER BARNES BROADCAST CAMERAS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PETER BARNES BROADCAST CAMERAS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
830
-
0
Current assets
Debtors
5
5,075
16,056
Cash at bank and in hand
54,644
51,350
59,719
67,406
Creditors: amounts falling due within one year
6
(9,282)
(8,916)
Net current assets
50,437
58,490
Net assets
51,267
58,490
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
51,167
58,390
Total equity
51,267
58,490

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 2 October 2023
Mr P Barnes
Director
Company Registration No. 07452995
PETER BARNES BROADCAST CAMERAS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Peter Barnes Broadcast Cameras Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 36 Croxley Rise, Maidenhead, Berkshire, United Kingdom, SL6 4JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PETER BARNES BROADCAST CAMERAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PETER BARNES BROADCAST CAMERAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
1
1
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2022
2,765
Additions
1,049
At 31 December 2022
3,814
Depreciation and impairment
At 1 January 2022
2,765
Depreciation charged in the year
219
At 31 December 2022
2,984
Carrying amount
At 31 December 2022
830
At 31 December 2021
-
0
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
5,075
16,056
PETER BARNES BROADCAST CAMERAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Taxation and social security
6,104
7,854
Other creditors
3,178
1,062
9,282
8,916
2022-12-31 2022-01-01 false 04 October 2023 CCH Software CCH Accounts Production 2023.100 No description of principal activity Mr P Barnes 07452995 2022-01-01 2022-12-31 07452995 2022-12-31 07452995 2021-12-31 07452995 core:ComputerEquipment 2022-12-31 07452995 core:ComputerEquipment 2021-12-31 07452995 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07452995 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 07452995 core:CurrentFinancialInstruments 2022-12-31 07452995 core:CurrentFinancialInstruments 2021-12-31 07452995 core:ShareCapital 2022-12-31 07452995 core:ShareCapital 2021-12-31 07452995 core:RetainedEarningsAccumulatedLosses 2022-12-31 07452995 core:RetainedEarningsAccumulatedLosses 2021-12-31 07452995 bus:Director1 2022-01-01 2022-12-31 07452995 core:ComputerEquipment 2022-01-01 2022-12-31 07452995 2021-01-01 2021-12-31 07452995 core:ComputerEquipment 2021-12-31 07452995 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07452995 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 07452995 bus:FRS102 2022-01-01 2022-12-31 07452995 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 07452995 bus:FullAccounts 2022-01-01 2022-12-31 xbrli:pure xbrli:shares iso4217:GBP