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REGISTERED NUMBER: 06962046 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

WIMBORNE PHOTO CENTRE LTD

WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Balance sheet 1

Notes to the financial statements 2


WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 6,131 1,964

Current assets
Stocks 5,500 5,000
Debtors 5 6,922 3,991
Cash at bank 6,977 23,378
19,399 32,369
Creditors
Amounts falling due within one year 6 5,887 8,502
Net current assets 13,512 23,867
Total assets less current liabilities 19,643 25,831

Creditors
Amounts falling due after more than one year 7 (10,122 ) (11,709 )

Provisions for liabilities 10 (1,165 ) (373 )
Net assets 8,356 13,749

Capital and reserves
Called up share capital 11 100 100
Retained earnings 8,256 13,649
Shareholders' funds 8,356 13,749

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 April 2024 and were signed by:



Mr P McKay - Director


WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. Statutory information

Wimborne Photo Centre Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06962046. The registered office and business address is 2 Kings Court, High Street, Wimborne, BH21 1HS.

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 represents sales from providing photographic and printing services.

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
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


3. Employees and directors

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

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 October 2022 30,671 418 3,638 34,727
Additions - - 6,211 6,211
At 30 September 2023 30,671 418 9,849 40,938
Depreciation
At 1 October 2022 29,027 398 3,338 32,763
Charge for year 411 5 1,628 2,044
At 30 September 2023 29,438 403 4,966 34,807
Net book value
At 30 September 2023 1,233 15 4,883 6,131
At 30 September 2022 1,644 20 300 1,964

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 2,813 2,813
Directors' current accounts 4,109 1,178
6,922 3,991

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 1,587 1,544
Trade creditors - 194
Tax 2,283 4,842
Accruals and deferred income 2,017 1,922
5,887 8,502

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 1,631 1,587
Bank loans - 2-5 years 5,145 5,022
Bank loans more 5 yr by instal 3,346 5,100
10,122 11,709

WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. Creditors: amounts falling due after more than one year - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,346 5,100

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,000 3,000

9. Secured debts

All monies due to or to become due to TSB Bank PLC are secured by way of a fixed and floating charge over all the assets of the company, dated 10 November 2010.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 1,165 373

Deferred
tax
£   
Balance at 1 October 2022 373
Provided during year 792
Balance at 30 September 2023 1,165

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mr P McKay
Balance outstanding at start of year 1,178 -
Amounts advanced 4,109 1,178
Amounts repaid (1,178 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,109 1,178

WIMBORNE PHOTO CENTRE LTD (REGISTERED NUMBER: 06962046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. Director's advances, credits and guarantees - continued

At the balance sheet date the Director, Mr P McKay, owed the company £4,109, (2021: £ 1,178). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

13. Ultimate controlling party

The company is controlled by the director, Mr P McKay, who owns 100% of the issued share capital.