Company Registration No. 09572467 (England and Wales)
Issy Oakes Photography Limited
Unaudited accounts
for the year ended 31 May 2023
Issy Oakes Photography Limited
Unaudited accounts
Contents
Issy Oakes Photography Limited
Company Information
for the year ended 31 May 2023
Company Number
09572467 (England and Wales)
Registered Office
4 Hayward Gardens
Folkestone
Kent
CT20 2FH
Accountants
Ambly Accountants Ltd
56 Amberley Gardens
Stoneleigh
Surrey
KT19 0NG
Issy Oakes Photography Limited
Statement of financial position
as at 31 May 2023
Tangible assets
7,850
2,294
Cash at bank and in hand
24,050
48,641
Creditors: amounts falling due within one year
(8,613)
(16,109)
Net current assets
31,720
41,872
Total assets less current liabilities
39,570
44,166
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
37,978
43,630
Shareholders' funds
38,078
43,730
For the year ending 31 May 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 September 2023 and were signed on its behalf by
I Oakes
Director
Company Registration No. 09572467
Issy Oakes Photography Limited
Notes to the Accounts
for the year ended 31 May 2023
Issy Oakes Photography Limited is a private company, limited by shares, registered in England and Wales, registration number 09572467. The registered office is 4 Hayward Gardens, Folkestone, Kent, CT20 2FH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and VAT.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years on a straight line basis
Fixtures & fittings
3 years on a straight line basis
Computer equipment
3 years on a straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost.
Issy Oakes Photography Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
6,866
990
5,593
13,449
Additions
7,697
680
1,087
9,464
At 31 May 2023
14,563
1,670
6,680
22,913
At 1 June 2022
6,649
660
3,846
11,155
Charge for the year
1,997
557
1,354
3,908
At 31 May 2023
8,646
1,217
5,200
15,063
At 31 May 2023
5,917
453
1,480
7,850
At 31 May 2022
217
330
1,747
2,294
Amounts falling due within one year
Trade debtors
15,928
9,340
Accrued income and prepayments
355
-
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
6,690
14,360
Loans from directors
313
274
7
Deferred taxation
2023
2022
Accelerated capital allowances
1,492
436
Provision at start of year
436
490
Charged/(credited) to the profit and loss account
1,056
(54)
Provision at end of year
1,492
436
Issy Oakes Photography Limited
Notes to the Accounts
for the year ended 31 May 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
As at the year-end an amount of £313 (2022 - £274) is due to the director I Oakes. This loan is interest free and repayable on demand.
Dividends of £20,600 (2022 - £9,000) were paid to the director I Oakes in the financial year.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).