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Nathan Gallagher Photography Limited
Registered Number:08354572
For the year ended 31 January 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 January 2023
Nathan Gallagher Photography Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08354572
As at 31 January 2023
Nathan Gallagher Photography Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
14,256
9,209
2
14,256
9,209
Current assets
Trade and other receivables
46,248
23,809
3
55,715
Cash and cash equivalents
75,244
99,053
101,963
Trade and other payables: amounts falling due within one
year
(48,523)
(56,886)
4
53,440
42,167
Net current assets
Total assets less current liabilities
56,423
62,649
Trade and other payables: amounts falling due after more
than one year
(35,833)
(25,833)
5
(2,413)
(1,454)
Provisions for liabilities
28,177
Net assets
25,362
Capital and reserves
Called up share capital
1
1
Retained earnings
28,176
25,361
28,177
25,362
Shareholders' funds
For the year ended 31 January 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 of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
N Gallagher Director
These financial statements were approved and authorised for issue by the Board on 18 October 2023 and were signed by:
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4
Registered Number :
08354572
For the year ended 31 January 2023
Nathan Gallagher Photography Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 January 2023
Nathan Gallagher Photography Limited
Notes to the Financial Statements
Statutory Information
Nathan Gallagher Photography Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 08354572.
Registered address:
Studio G1
23-27 Arcola Stree
London
E8 2DJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
The principal accounting policies adopted are set out below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for photography services provided in the year, excluding VAT.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Photography Equipment
25% Straight line
15% Straight line
Fixtures & Fittings
25% Straight line
Office Equipment
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 31 January 2023
Nathan Gallagher Photography Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures &
Fittings
Office
Equipment
Photography
Equipment
£
£
£
£
Cost or
valuation
At 01 February 2022
75,088
3,628
25,624
45,836
13,031
-
7,922
5,109
Additions
At 31 January 2023
50,945
33,546
3,628
88,119
Provision for depreciation and impairment
At 01 February 2022
65,879
1,313
23,634
40,932
Charge for year
7,984
544
2,894
4,546
At 31 January 2023
73,863
1,857
26,528
45,478
At 31 January 2023
Net book value
5,467
7,018
1,771
14,256
At 31 January 2022
4,904
1,990
2,315
9,209
3. Trade and other receivables
2022
2023
£
£
Trade debtors
17,250
36,315
Other debtors
6,559
9,933
46,248
23,809
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
10,000
10,000
Trade creditors
2,308
11,566
Taxation and social security
32,935
25,098
Other creditors
11,643
1,859
56,886
48,523
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
25,833
35,833
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7
For the year ended 31 January 2023
Nathan Gallagher Photography Limited
Notes to the Financial Statements Continued
6. Directors advances and guarantees
At 01/02/2022
Loaned
Repaid
At 31/01/2023
£
£
£
£
N Gallagher
Loan repayable on demand
5,222
9,395
5,222
9,395
5,222
9,395
5,222
9,395
7. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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