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REGISTERED NUMBER: 05087416 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Media Wisdom Photography Ltd

Media Wisdom Photography Ltd (Registered number: 05087416)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Media Wisdom Photography Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G Christopher
A Cockroft





REGISTERED OFFICE: 5 Lindsay Road
Hampton Hill
Middlesex
TW12 1DR





REGISTERED NUMBER: 05087416 (England and Wales)





ACCOUNTANTS: Swan Accountancy Solutions Limited
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Media Wisdom Photography Ltd (Registered number: 05087416)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 35,446 34,449
35,446 34,449

CURRENT ASSETS
Debtors 6 13,536 10,125
Cash at bank and in hand 14,077 5,687
27,613 15,812
CREDITORS
Amounts falling due within one
year

7

35,056

28,157
NET CURRENT LIABILITIES (7,443 ) (12,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,003

22,104

CREDITORS
Amounts falling due after more
than one year

8

(8,666

)

(12,708

)

PROVISIONS FOR LIABILITIES (6,735 ) (6,545 )
NET ASSETS 12,602 2,851

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 12,502 2,751
SHAREHOLDERS' FUNDS 12,602 2,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:





G Christopher - Director


Media Wisdom Photography Ltd (Registered number: 05087416)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Media Wisdom Photography Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised over five years from 01 April 2015. The Directors consider this to be the useful working life of the goodwill.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Media Wisdom Photography Ltd (Registered number: 05087416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,250
AMORTISATION
At 1 April 2022
and 31 March 2023 20,250
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 80,142 7,505 21,238 108,885
Additions 11,487 - - 11,487
Disposals (9,272 ) - - (9,272 )
At 31 March 2023 82,357 7,505 21,238 111,100
DEPRECIATION
At 1 April 2022 53,845 6,312 14,279 74,436
Charge for year 5,095 179 1,392 6,666
Eliminated on disposal (5,448 ) - - (5,448 )
At 31 March 2023 53,492 6,491 15,671 75,654
NET BOOK VALUE
At 31 March 2023 28,865 1,014 5,567 35,446
At 31 March 2022 26,297 1,193 6,959 34,449

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,455 8,926
Other debtors 1,081 1,199
13,536 10,125

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 2,623 783
Taxation and social security 13,061 6,583
Other creditors 15,372 16,791
35,056 28,157

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,666 12,708

Media Wisdom Photography Ltd (Registered number: 05087416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

10. ULTIMATE CONTROLLING PARTY

G Christopher and A Cockroft are the ultimate controlling parties by virtue of their 100% interest in the ordinary share capital of the company.