Company Registration No. 5143539 (England and Wales)
PICTURESONWALLS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PICTURESONWALLS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PICTURESONWALLS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
1
1
Current assets
Stock
288,850
288,850
Debtors
4
2,247,519
18
Cash at bank and in hand
2,288
2,243,799
2,538,657
2,532,667
Creditors: amounts falling due within one year
5
(945)
(900)
Net current assets
2,537,712
2,531,767
Total assets less current liabilities
2,537,713
2,531,768
Capital and reserves
Called up share capital
67
67
Share premium account
39,990
39,990
Capital redemption reserve
33
33
Profit and loss reserves
2,497,623
2,491,678
Total equity
2,537,713
2,531,768
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 March 2024 and are signed on its behalf by:
...................
....................
Jennifer Holdsworth
Mark Stephens
Director
Director
Company Registration No. 5143539
PICTURESONWALLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information
Picturesonwalls Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, 2-4 Maddox Street, London, W1S 1QP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound (£).
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and Fittings
100% Reducing Balance
Computer Equipment
100% Reducing Balance
1.3
Stock
Stock is valued at the lower of cost or net realisable value.
2
Tangible fixed assets
Fixtures and Fittings
Computer Equipment
Total
£
£
£
Cost
At 1 July 2022
68,677
96,534
165,211
Depreciation
At 1 July 2022 and 30 June 2023
68,677
96,534
165,211
Net Book Value
At 30 June 2023
At 30 June 2022
PICTURESONWALLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
3
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
19
18
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
2,247,500
Total debtors
2,247,519
18
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
295
Other creditors
650
900
945
900