IRIS Accounts Production v23.3.0.418 06712004 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure067120042022-03-31067120042023-03-31067120042022-04-012023-03-31067120042021-03-31067120042021-04-012022-03-31067120042022-03-3106712004ns16:EnglandWales2022-04-012023-03-3106712004ns15:PoundSterling2022-04-012023-03-3106712004ns11:Director12022-04-012023-03-3106712004ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3106712004ns11:SmallEntities2022-04-012023-03-3106712004ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3106712004ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106712004ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106712004ns11:FullAccounts2022-04-012023-03-3106712004ns11:Director22022-04-012023-03-3106712004ns11:RegisteredOffice2022-04-012023-03-3106712004ns6:CurrentFinancialInstruments2023-03-3106712004ns6:CurrentFinancialInstruments2022-03-3106712004ns6:Non-currentFinancialInstruments2023-03-3106712004ns6:Non-currentFinancialInstruments2022-03-3106712004ns6:ShareCapital2023-03-3106712004ns6:ShareCapital2022-03-3106712004ns6:RetainedEarningsAccumulatedLosses2023-03-3106712004ns6:RetainedEarningsAccumulatedLosses2022-03-3106712004ns6:PlantMachinery2022-04-012023-03-3106712004ns6:FurnitureFittings2022-04-012023-03-3106712004ns6:MotorVehicles2022-04-012023-03-3106712004ns6:ComputerEquipment2022-04-012023-03-3106712004ns6:PlantMachinery2022-03-3106712004ns6:FurnitureFittings2022-03-3106712004ns6:MotorVehicles2022-03-3106712004ns6:ComputerEquipment2022-03-3106712004ns6:PlantMachinery2023-03-3106712004ns6:FurnitureFittings2023-03-3106712004ns6:MotorVehicles2023-03-3106712004ns6:ComputerEquipment2023-03-3106712004ns6:PlantMachinery2022-03-3106712004ns6:FurnitureFittings2022-03-3106712004ns6:MotorVehicles2022-03-3106712004ns6:ComputerEquipment2022-03-3106712004ns6:DisposalsRepaymentsInvestments2023-03-3106712004ns6:CostValuation2023-03-3106712004ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3106712004ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3106712004ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3106712004ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3106712004ns6:RetainedEarningsAccumulatedLosses2022-03-3106712004ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 06712004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PICTURE BLAST LIMITED

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PICTURE BLAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P Entwistle
D J Morrison





REGISTERED OFFICE: 1&2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX





REGISTERED NUMBER: 06712004 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198,546 76,796
Investments 5 - 80,000
198,546 156,796

CURRENT ASSETS
Debtors 6 73,914 36,469
Investments 7 354,432 254,459
Cash at bank 86,932 150,158
515,278 441,086
CREDITORS
Amounts falling due within one year 8 383,833 317,765
NET CURRENT ASSETS 131,445 123,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

329,991

280,117

CREDITORS
Amounts falling due after more than one
year

9

(80,335

)

(110,788

)

PROVISIONS FOR LIABILITIES (37,724 ) (14,591 )
NET ASSETS 211,932 154,738

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 10 210,932 153,738
211,932 154,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





P Entwistle - Director


PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Picture Blast Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 245,176 - 124,764 - 369,940
Additions 44,412 22,493 99,534 445 166,884
Disposals - - (53,490 ) - (53,490 )
At 31 March 2023 289,588 22,493 170,808 445 483,334
DEPRECIATION
At 1 April 2022 168,755 - 124,389 - 293,144
Charge for year 14,105 5,623 25,259 147 45,134
Eliminated on disposal - - (53,490 ) - (53,490 )
At 31 March 2023 182,860 5,623 96,158 147 284,788
NET BOOK VALUE
At 31 March 2023 106,728 16,870 74,650 298 198,546
At 31 March 2022 76,421 - 375 - 76,796

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2022 80,000
Disposals (80,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 80,000

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,460 -
Amounts owed by group undertakings 330 180
Other debtors 38,289 36,289
Prepayments 3,835 -
73,914 36,469

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Prudential investment account 354,432 254,459

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,333 8,333
Hire purchase contracts 18,636 -
Trade creditors 15,926 7,925
Corporation tax 47,010 90,145
Social security and other taxes 11,268 (3,138 )
Pensions 687 351
VAT 63,724 29,369
Directors' current accounts 308 10,970
Deferred Income 215,376 171,500
Accrued expenses 2,565 2,310
383,833 317,765

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 23,354 33,333
Hire purchase contracts 56,981 77,455
80,335 110,788

10. RESERVES
Retained
earnings
£   

At 1 April 2022 153,738
Profit for the year 267,194
Dividends (210,000 )
At 31 March 2023 210,932

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. ULTIMATE CONTROLLING PARTY

The controlling party is P Entwistle.