Registered number
08464324
Fashion Photo London Ltd
Filleted Accounts
31 March 2023
Fashion Photo London Ltd
Registered number: 08464324
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 1,060
Tangible assets 4 2,013 2,516
2,013 3,576
Current assets
Debtors 5 22,374 23,374
Cash at bank and in hand 8,227 6,498
30,601 29,872
Creditors: amounts falling due within one year 6 (5,389) (5,771)
Net current assets 25,212 24,101
Total assets less current liabilities 27,225 27,677
Creditors: amounts falling due after more than one year 7 (19,253) (22,275)
Net assets 7,972 5,402
Capital and reserves
Called up share capital 500 500
Profit and loss account 7,472 4,902
Shareholders' funds 7,972 5,402
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.
Alexandre Tadeu Tombini
Director
Approved by the board on 13 October 2023
Fashion Photo London 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 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.
Depreciation
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:
Plant and machinery 20% reducing balance
Goodwill 10% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 10,600
At 31 March 2023 10,600
Amortisation
At 1 April 2022 9,540
Provided during the year 1,060
At 31 March 2023 10,600
Net book value
At 31 March 2023 -
At 31 March 2022 1,060
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 18,708
At 31 March 2023 18,708
Depreciation
At 1 April 2022 16,192
Charge for the year 503
At 31 March 2023 16,695
Net book value
At 31 March 2023 2,013
At 31 March 2022 2,516
5 Debtors 2023 2022
£ £
Trade debtors 17,727 17,727
Other debtors 4,647 5,647
22,374 23,374
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,480 5,727
Other creditors 2,909 44
5,389 5,771
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,253 22,275
8 Other information
Fashion Photo London Ltd is a private company limited by shares and incorporated in England. Its registered office is:
144 Hgih Road
Leyton
E15 2BX
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