Registered number
SC622927
ZA PHOTO LTD
40 Mary Slessor Wynd
Rutherglen
Filleted Accounts
for the year ended 31 March 2023
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: Z027/TG
ZA PHOTO LTD
Registered number: SC622927
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,863 18,473
Current assets
Cash at bank and in hand 6,593 1,508
Creditors: amounts falling due within one year 4 (6,059) (2,924)
Net current assets/(liabilities) 534 (1,416)
Total assets less current liabilities 20,397 17,057
Creditors: amounts falling due after more than one year 5 (19,998) (19,243)
Net assets/(liabilities) 399 (2,186)
Capital and reserves
Called up share capital 100 100
Profit and loss account 299 (2,286)
Shareholders' funds 399 (2,186)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Zaheer Ahmad
Director
Approved by the board on 8 August 2023
ZA PHOTO LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment & Tools 10% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office Equipment & Tools
£
Cost
At 1 April 2022 21,931
Additions 3,596
At 31 March 2023 25,527
Depreciation
At 1 April 2022 3,458
Charge for the year 2,206
At 31 March 2023 5,664
Net book value
At 31 March 2023 19,863
At 31 March 2022 18,473
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,155 1,473
Other creditors 4,904 1,451
6,059 2,924
5 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loan 3,528 475
Bounce back loan 16,470 18,768
19,998 19,243
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