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REGISTERED NUMBER: 07275487 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

INDIGENOUS DESIGN AND PHOTOGRAPHY LTD

INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INDIGENOUS DESIGN AND PHOTOGRAPHY LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTOR: B E Davies





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 07275487 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)

STATEMENT OF FINANCIAL POSITION
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,288 18,299

CURRENT ASSETS
Debtors 5 8,928 -
Cash at bank 8,820 25,801
17,748 25,801
CREDITORS
Amounts falling due within one year 6 14,528 27,152
NET CURRENT ASSETS/(LIABILITIES) 3,220 (1,351 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,508

16,948

PROVISIONS FOR LIABILITIES 7 3,300 4,541
NET ASSETS 13,208 12,407

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 13,207 12,406
SHAREHOLDERS' FUNDS 13,208 12,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:





B E Davies - Director


INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Indigenous Design and 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.

Turnover represents the net invoice value of services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are recorded at cost less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Short term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 36,644
Additions 5,300
At 30 June 2023 41,944
DEPRECIATION
At 1 July 2022 18,345
Charge for year 10,311
At 30 June 2023 28,656
NET BOOK VALUE
At 30 June 2023 13,288
At 30 June 2022 18,299

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,928 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 3,418 7,622
Other creditors 11,110 19,530
14,528 27,152

INDIGENOUS DESIGN AND PHOTOGRAPHY LTD (REGISTERED NUMBER: 07275487)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,300 4,541

Deferred
tax
£   
Balance at 1 July 2022 4,541
Provided during year (1,241 )
Balance at 30 June 2023 3,300

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the director .

Included in Other creditors is £10,000 (2022:£18,750) due to the director.