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Logo On Report
Registered Number: 07235611
England and Wales

 

 

 

THE PHOTOGRAPHIC WORKSHOP LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 10,000    10,000 
Tangible fixed assets 4 78,086    83,331 
88,086    93,331 
Current assets      
Stocks 15,000    12,000 
Debtors: amounts falling due within one year 23,772    6,650 
Cash at bank and in hand 34,821    50,525 
73,593    69,175 
Creditors: amount falling due within one year (26,471)   (19,977)
Net current assets 47,122    49,198 
 
Total assets less current liabilities 135,208    142,529 
Creditors: amount falling due after more than one year (53,332)   (74,846)
Provisions for liabilities (387)   (543)
Net assets 81,489    67,140 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 81,389    67,040 
Shareholder's funds 81,489    67,140 
 


For the year, the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 March 2024 and were signed on its behalf by:


-------------------------------
Mehul Patel
Director
1
General Information
THE PHOTOGRAPHIC WORKSHOP LTD is a private company, limited by shares, registered in England and Wales, registration number 07235611, registration address 206 PARK ROAD, KINGSTON UPON THAMES SURREY, KT2 5LS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
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
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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 year was 6 (2022 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 12,079    12,079 
Additions  
Disposals  
At 31 March 2023 12,079    12,079 
Amortisation
At 01 April 2022 2,079    2,079 
Charge for year  
On disposals  
At 31 March 2023 2,079    2,079 
Net book values
At 31 March 2023 10,000    10,000 
At 31 March 2022 10,000    10,000 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2022 2,500    1,401    152,531    3,088    159,520 
Additions     14,276      14,276 
Disposals        
At 31 March 2023 2,500    1,401    166,807    3,088    173,796 
Depreciation
At 01 April 2022 2,500    632    72,070    987    76,189 
Charge for year   154    18,947    420    19,521 
On disposals        
At 31 March 2023 2,500    786    91,017    1,407    95,710 
Net book values
Closing balance as at 31 March 2023   615    75,790    1,681    78,086 
Opening balance as at 01 April 2022   769    80,461    2,101    83,331 


2