3 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 140,212 79,938 37,137 23,137 23,137 140,212 xbrli:pure xbrli:shares iso4217:GBP 05382653 2022-07-01 2023-06-30 05382653 2023-06-30 05382653 2022-06-30 05382653 2021-07-01 2022-06-30 05382653 2022-06-30 05382653 core:FurnitureFittings 2022-07-01 2023-06-30 05382653 core:MotorVehicles 2022-07-01 2023-06-30 05382653 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 05382653 bus:Director1 2022-07-01 2023-06-30 05382653 core:WithinOneYear 2023-06-30 05382653 core:WithinOneYear 2022-06-30 05382653 core:FurnitureFittings 2022-06-30 05382653 core:MotorVehicles 2022-06-30 05382653 core:FurnitureFittings 2023-06-30 05382653 core:AfterOneYear 2023-06-30 05382653 core:AfterOneYear 2022-06-30 05382653 core:ShareCapital 2023-06-30 05382653 core:ShareCapital 2022-06-30 05382653 core:RetainedEarningsAccumulatedLosses 2023-06-30 05382653 core:RetainedEarningsAccumulatedLosses 2022-06-30 05382653 core:CostValuation core:Non-currentFinancialInstruments 2022-06-30 05382653 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-06-30 05382653 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-06-30 05382653 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 05382653 core:Non-currentFinancialInstruments 2023-06-30 05382653 core:Non-currentFinancialInstruments 2022-06-30 05382653 core:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05382653 core:FurnitureFittings 2022-06-30 05382653 bus:SmallEntities 2022-07-01 2023-06-30 05382653 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05382653 bus:FullAccounts 2022-07-01 2023-06-30 05382653 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05382653 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05382653 bus:OrdinaryShareClass1 2023-06-30 05382653 bus:OrdinaryShareClass1 2022-06-30
COMPANY REGISTRATION NUMBER: 05382653
PHOTOGRAPHY MANCHESTER LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
PHOTOGRAPHY MANCHESTER LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 7
PHOTOGRAPHY MANCHESTER LIMITED
BALANCE SHEET
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
42,833
Investments
6
23,137
140,212
------------
------------
23,137
183,045
Current assets
Debtors
7
46,762
166,319
Cash at bank and in hand
22,624
46,673
------------
------------
69,386
212,992
Creditors: amounts falling due within one year
8
( 95,838)
( 42,354)
------------
------------
Net current (liabilities)/assets
( 26,452)
170,638
------------
------------
Total assets less current liabilities
( 3,315)
353,683
Creditors: amounts falling due after more than one year
9
( 36,400)
( 42,031)
Provisions
( 11,700)
------------
------------
Net (liabilities)/assets
( 39,715)
299,952
------------
------------
Capital and reserves
Called up share capital
11
10
10
Profit and loss account
( 39,725)
299,942
------------
------------
Shareholders (deficit)/funds
( 39,715)
299,952
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PHOTOGRAPHY MANCHESTER LIMITED
BALANCE SHEET (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
S K Chippindale
Director
Company registration number: 05382653
PHOTOGRAPHY MANCHESTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36 Gill Bank Road, Ilkley, LS29 0AU, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 July 2022
270,422
33,308
303,730
Disposals
( 33,308)
( 33,308)
------------
------------
------------
At 30 June 2023
270,422
270,422
------------
------------
------------
Depreciation
At 1 July 2022
227,589
33,308
260,897
Charge for the year
42,833
42,833
Disposals
( 33,308)
( 33,308)
------------
------------
------------
At 30 June 2023
270,422
270,422
------------
------------
------------
Carrying amount
At 30 June 2023
------------
------------
------------
At 30 June 2022
42,833
42,833
------------
------------
------------
6. Investments
Other investments other than loans
£
Cost
At 1 July 2022
140,212
Disposals
( 79,938)
Revaluations
( 37,137)
------------
At 30 June 2023
23,137
------------
Impairment
At 1 July 2022 and 30 June 2023
------------
Carrying amount
At 30 June 2023
23,137
------------
At 30 June 2022
140,212
------------
7. Debtors
2023
2022
£
£
Prepayments and accrued income
10,403
5,046
Director's loan account
33,172
Other debtors
36,359
128,101
------------
------------
46,762
166,319
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,004
5,457
Trade creditors
26,794
20,211
Accruals and deferred income
1,596
1,625
Corporation tax
3,244
3,694
Social security and other taxes
16,467
11,368
Director loan accounts
21,763
Other creditors
17,970
( 1)
------------
------------
95,838
42,354
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
36,400
42,031
------------
------------
10. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
11,700
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
11,700
------------
------------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
------------
------------
------------
------------
12. Related party transactions
The director's loan account included in creditors is unsecured, repayable on demand and currently interest-free. The company is controlled by S K Chippindale .