Stephen Todd Photography Ltd


Directors	S W Todd
	S A Todd


Registered Address	28 The Parklands
	South Cave
	Brough
	HU15 2EL


Registered Number	04615100 (England and Wales)

Statement of Financial Position
31 January 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	7		-		3,750
Tangible assets	9		-		2
			-		3,752
Current assets
Stocks	10	-		69
Debtors	11	-		149
		-		218
Creditors amounts falling due within one year	12	(21,990)		(18,707)
Net current assets (liabilities)			(21,990)		(18,489)
Total assets less current liabilities			(21,990)		(14,737)
Net assets			(21,990)		(14,737)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(22,090)		(14,837)
Shareholders' funds			(21,990)		(14,737)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 3 October 2023, and are signed on its behalf by:

S W Todd
Director
Registered Company No. 04615100

Stephen Todd Photography Ltd

Notes to the Financial Statements
for the year ended 31 January 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company is photography.

4.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

5.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	10
	Fixtures and fittings	10
	Office Equipment	3

	Intangible assets policy
	Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life of 20 years.

Intangible assets policy

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired
entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life of 20 years.

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Going concern
	The company has ceased trading and is to be formally wound up from 1st October 2023. At this date there were no other creditors other than the directors.

6.	Employee information


		2023		2022
	Average number of employees during the year	0		0

7.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 February 22	75,000	75,000
At 31 January 23	75,000	75,000
Amortisation and impairment
At 01 February 22	71,250	71,250
Charge for year	3,750	3,750
At 31 January 23	75,000	75,000
Net book value
At 31 January 23	-	-
At 31 January 22	3,750	3,750

8.	Useful life of intangible asset
	Goodwill is amortised over its useful life of 20 years.

9.	Property, plant and equipment

	Land & buildings	Plant & machinery	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 February 22	21,054	32,215	48,253	101,522
At 31 January 23	21,054	32,215	48,253	101,522
Depreciation and impairment
At 01 February 22	21,053	32,215	48,252	101,520
Charge for year	1	-	1	2
At 31 January 23	21,054	32,215	48,253	101,522
Net book value
At 31 January 23	-	-	-	-
At 31 January 22	1	-	1	2

10.	Stocks
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

10.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.  At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

	2023	2022
	£	£
Other stocks	-	69
Total	-	69

11.	Debtors

	2023	2022
	£	£
Other debtors	-	149
Total	-	149


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

12.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	41	172
Amounts owed to related parties	15,357	15,126
Other creditors	6,592	2,886
Accrued liabilities and deferred income	-	523
Total	21,990	18,707


	Short term creditors are measured at transaction price (which is usually the invoice price).