IRIS Accounts Production v24.1.0.578 05463619 Board of Directors 1.11.22 31.10.23 31.10.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054636192022-10-31054636192023-10-31054636192022-11-012023-10-31054636192021-10-31054636192021-11-012022-10-31054636192022-10-3105463619ns15:EnglandWales2022-11-012023-10-3105463619ns14:PoundSterling2022-11-012023-10-3105463619ns10:Director12022-11-012023-10-3105463619ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3105463619ns10:SmallEntities2022-11-012023-10-3105463619ns10:AuditExemptWithAccountantsReport2022-11-012023-10-3105463619ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3105463619ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3105463619ns10:FullAccounts2022-11-012023-10-3105463619ns10:Director22022-11-012023-10-3105463619ns10:Director32022-11-012023-10-3105463619ns10:RegisteredOffice2022-11-012023-10-3105463619ns5:CurrentFinancialInstruments2023-10-3105463619ns5:CurrentFinancialInstruments2022-10-3105463619ns5:ShareCapital2023-10-3105463619ns5:ShareCapital2022-10-3105463619ns5:RetainedEarningsAccumulatedLosses2023-10-3105463619ns5:RetainedEarningsAccumulatedLosses2022-10-3105463619ns5:PlantMachinery2022-11-012023-10-3105463619ns5:ComputerEquipment2022-11-012023-10-3105463619ns5:PlantMachinery2022-10-3105463619ns5:ComputerEquipment2022-10-3105463619ns5:PlantMachinery2023-10-3105463619ns5:ComputerEquipment2023-10-3105463619ns5:PlantMachinery2022-10-3105463619ns5:ComputerEquipment2022-10-3105463619ns5:CostValuation2022-10-3105463619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3105463619ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3105463619ns5:RetainedEarningsAccumulatedLosses2022-10-3105463619ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31
REGISTERED NUMBER: 05463619 (England and Wales)














LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: T Parry
K G Parry
P J Parry





REGISTERED OFFICE: 56 West Street
Shoreham-by-Sea
West Sussex
BN43 5WG





REGISTERED NUMBER: 05463619 (England and Wales)





ACCOUNTANTS: Flint Accounting Limited
Chartered Accountants
56 West Street
Shoreham by Sea
West Sussex
BN43 5WG

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Loughton Photographic Holdings Limited for the year ended 31 October 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Loughton Photographic Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 26 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Loughton Photographic Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Loughton Photographic Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Loughton Photographic Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Loughton Photographic Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Loughton Photographic Holdings Limited. You consider that Loughton Photographic Holdings 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 financial statements of Loughton Photographic Holdings 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 financial statements.






Flint Accounting Limited
Chartered Accountants
56 West Street
Shoreham by Sea
West Sussex
BN43 5WG


19 April 2024

LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,286 892
Investments 6 100 100
Investment property 7 750,000 894,224
752,386 895,216

CURRENT ASSETS
Debtors 8 3,173 3,259
Cash at bank 1,971 19,035
5,144 22,294
CREDITORS
Amounts falling due within one year 9 103,084 126,248
NET CURRENT LIABILITIES (97,940 ) (103,954 )
TOTAL ASSETS LESS CURRENT LIABILITIES 654,446 791,262

PROVISIONS FOR LIABILITIES 572 169
NET ASSETS 653,874 791,093

CAPITAL AND RESERVES
Called up share capital 11,000 11,000
Retained earnings 10 642,874 780,093
SHAREHOLDERS' FUNDS 653,874 791,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





T Parry - Director


LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Loughton Photographic Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 33.33% on cost

At each balance sheet date the company reviews the carrying amounts of its plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss if any. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.


LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2022 959 6,076 7,035
Additions - 1,735 1,735
At 31 October 2023 959 7,811 8,770
DEPRECIATION
At 1 November 2022 180 5,963 6,143
Charge for year 114 227 341
At 31 October 2023 294 6,190 6,484
NET BOOK VALUE
At 31 October 2023 665 1,621 2,286
At 31 October 2022 779 113 892

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 100
NET BOOK VALUE
At 31 October 2023 100
At 31 October 2022 100

LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 November 2022 894,224
Impairments (144,224 )
At 31 October 2023 750,000
NET BOOK VALUE
At 31 October 2023 750,000
At 31 October 2022 894,224

No provision has been made for the additional taxation which would accrue if the investment properties were disposed of at their revalued amounts. The estimated charge that would arise if all the properties were sold would amount to £nil.

Cost or valuation at 31 October 2023 is represented by:
£   
Valuation in 2012 950,000
Valuation in 2013 17,500
Valuation in 2017 132,500
Valuation in 2018 (100,000 )
Valuation in 2019 (200,000 )
Valuation in 2021 49,904
Valuation in 2022 44,320
Valuation in 2023 (144,224 )
750,000

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,263,174 1,263,174
Aggregate depreciation (218,950 ) (218,950 )

The investment property was valued at 31 October 2023 by the directors at fair value.

The value is not based on a valuation by an independent valuer who holds a relevant professional qualification, but has been valued by looking at similar properties in the local area and applying commercial property price indices to the original cost.

LOUGHTON PHOTOGRAPHIC HOLDINGS LIMITED (REGISTERED NUMBER: 05463619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 486 395
Other debtors 2,687 2,864
3,173 3,259

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,361 -
Other creditors 101,723 126,248
103,084 126,248

10. RESERVES
Retained
earnings
£   

At 1 November 2022 780,093
Deficit for the year (125,019 )
Dividends (12,200 )
At 31 October 2023 642,874

11. RELATED PARTY DISCLOSURES

Included in creditors is £97,184 (2022: £118,851) contributed by the directors. The loans are interest free and repayable on demand.