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DORMANS PHOTO IMAGING LIMITED

Registered Number
03090558
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

DORMANS PHOTO IMAGING LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Nicholas Philip Dorman

Company Secretary

Susan Marilyn Walsh

Registered Address

The Old Rectory
Houghton Conquest
Bedford
MK45 3LD

Registered Number

03090558 (England and Wales)
DORMANS PHOTO IMAGING LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3-3,747
-3,747
Current assets
Stocks4-20,696
Debtors55906,596
Cash at bank and on hand36,14944,488
36,73971,780
Creditors amounts falling due within one year6(29,888)(57,742)
Net current assets (liabilities)6,85114,038
Total assets less current liabilities6,85117,785
Provisions for liabilities7-(479)
Net assets6,85117,306
Capital and reserves
Called up share capital100100
Profit and loss account6,75117,206
Shareholders' funds6,85117,306
The financial statements were approved and authorised for issue by the Director on 7 April 2024, and are signed on its behalf by:
Nicholas Philip Dorman
Director
Registered Company No. 03090558
DORMANS PHOTO IMAGING LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings105
Office Equipment25-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 November 22108,9901,97438,489149,453
Disposals(108,990)(1,974)(38,489)(149,453)
Depreciation and impairment
At 01 November 22105,6641,97338,069145,706
On disposals(105,664)(1,973)(38,069)(145,706)
Net book value
At 31 October 23----
At 31 October 223,32614203,747
4.Stocks

2023

2022

££
Finished goods-20,696
Total-20,696
5.Debtors: amounts due within one year

2023

2022

££
Other debtors5902,653
Prepayments and accrued income-3,943
Total5906,596
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,1698,585
Taxation and social security3032,090
Other creditors25,76844,432
Accrued liabilities and deferred income6482,635
Total29,88857,742
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-479
Total-479