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Registered Number: 14209028
England and Wales

 

 

 

LATENT PICTURES LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 31 July 2023
Director Ryan Francis
Registered Number 14209028
Registered Office 66 Gloucester Road
Bishopston
Bristol
BS7 8BH
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 July 2023.
Principal activities
The companys principal activity during the year was that of video production services.
Director
The director who served the company throughout the period was as follows:
Ryan Francis
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Ryan Francis
Director

Date approved: 08 March 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Latent Pictures Limited for the year ended 31 July 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Latent Pictures Limited for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Latent Pictures Limited , as a body, in accordance with the terms of our engagement letter dated 12 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Latent Pictures Limited and state those matters that we have agreed to state to the Board of Directors of Latent Pictures Limited , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Latent Pictures Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Latent Pictures Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Latent Pictures Limited . You consider that Latent Pictures Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Latent Pictures Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 July 2023.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
08 March 2024
3
 
 
Notes
 
2023
£
Turnover 54,075 
Cost of sales (16,925)
Gross profit 37,150 
Administrative expenses (10,174)
Operating profit 26,976 
Profit/(Loss) on ordinary activities before taxation 26,976 
Tax on profit on ordinary activities (5,149)
Profit/(Loss) for the financial period 21,827 
 
4
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 650 
650 
Current assets    
Debtors 4 27,000 
Cash at bank and in hand 5,406 
32,406 
Creditors: amount falling due within one year 5 (12,104)
Net current assets 20,302 
 
Total assets less current liabilities 20,952 
Provisions for liabilities 6 (124)
Net assets 20,828 
 

Capital and reserves
   
Called up share capital 1 
Profit and loss account 20,827 
Shareholder's funds 20,828 
 


For the period ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 08 March 2024 and were signed by:


-------------------------------
Ryan Francis
Director
5
General Information
Latent Pictures Limited is a private company, limited by shares, registered in England and Wales, registration number 14209028, registration address 66 Gloucester Road , Bishopston, Bristol, BS7 8BH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 3 Years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 July 2022  
Additions 975    975 
Disposals  
At 31 July 2023 975    975 
Depreciation
At 01 July 2022  
Charge for period 325    325 
On disposals  
At 31 July 2023 325    325 
Net book values
Closing balance as at 31 July 2023 650    650 
Opening balance as at 01 July 2022  


4.

Debtors: amounts falling due within one year

2023
£
Trade Debtors 27,000 
27,000 

5.

Creditors: amount falling due within one year

2023
£
Corporation Tax 5,025 
Accrued Expenses 600 
Directors' Current Accounts 1,311 
VAT 5,168 
12,104 

6.

Provisions for liabilities

2023
£
Deferred Tax 124 
124 

6