IRIS Accounts Production v24.1.9.2 04942045 director 1.12.22 30.11.23 30.11.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049420452022-11-30049420452023-11-30049420452022-12-012023-11-30049420452021-11-30049420452021-12-012022-11-30049420452022-11-3004942045ns15:EnglandWales2022-12-012023-11-3004942045ns14:PoundSterling2022-12-012023-11-3004942045ns10:Director12022-12-012023-11-3004942045ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3004942045ns10:SmallEntities2022-12-012023-11-3004942045ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3004942045ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3004942045ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3004942045ns10:FullAccounts2022-12-012023-11-300494204512022-12-012023-11-3004942045ns10:OrdinaryShareClass12022-12-012023-11-3004942045ns10:CompanySecretary12022-12-012023-11-3004942045ns10:RegisteredOffice2022-12-012023-11-3004942045ns5:CurrentFinancialInstruments2023-11-3004942045ns5:CurrentFinancialInstruments2022-11-3004942045ns5:Non-currentFinancialInstruments2023-11-3004942045ns5:Non-currentFinancialInstruments2022-11-3004942045ns5:ShareCapital2023-11-3004942045ns5:ShareCapital2022-11-3004942045ns5:RetainedEarningsAccumulatedLosses2023-11-3004942045ns5:RetainedEarningsAccumulatedLosses2022-11-3004942045ns5:NetGoodwill2022-12-012023-11-3004942045ns5:PlantMachinery2022-12-012023-11-3004942045ns5:ComputerEquipment2022-12-012023-11-3004942045ns5:NetGoodwill2022-11-3004942045ns5:NetGoodwill2023-11-3004942045ns5:NetGoodwill2022-11-3004942045ns5:PlantMachinery2022-11-3004942045ns5:PlantMachinery2023-11-3004942045ns5:PlantMachinery2022-11-3004942045ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3004942045ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3004942045ns10:OrdinaryShareClass12023-11-30049420451ns10:Director12022-11-30049420451ns10:Director12021-11-30049420451ns10:Director12022-12-012023-11-30049420451ns10:Director12021-12-012022-11-30049420451ns10:Director12023-11-30049420451ns10:Director12022-11-30
REGISTERED NUMBER: 04942045 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PROSPECT PHOTOGRAPHIC AGENCY LIMITED

PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSPECT PHOTOGRAPHIC AGENCY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: S J Kench





SECRETARY: I Kench





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 04942045 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 875
Tangible assets 5 2,239 2,949
2,239 3,824

CURRENT ASSETS
Stocks 157 198
Debtors 6 3,622 3,068
Cash at bank 3,876 2,827
7,655 6,093
CREDITORS
Amounts falling due within one year 7 6,552 4,511
NET CURRENT ASSETS 1,103 1,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,342

5,406

CREDITORS
Amounts falling due after more than one
year

8

(2,371

)

(4,104

)

PROVISIONS FOR LIABILITIES (425 ) (560 )
NET ASSETS 546 742

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 446 642
SHAREHOLDERS' FUNDS 546 742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





S J Kench - Director


PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Prospect Photographic Agency 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, and is derived from photography work.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 17,500
AMORTISATION
At 1 December 2022 16,625
Charge for year 875
At 30 November 2023 17,500
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 875

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 20,651
DEPRECIATION
At 1 December 2022 17,702
Charge for year 710
At 30 November 2023 18,412
NET BOOK VALUE
At 30 November 2023 2,239
At 30 November 2022 2,949

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 3,622 3,068

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 1,667 1,476
Taxation and social security 3,506 1,572
Other creditors 1,379 1,463
6,552 4,511

PROSPECT PHOTOGRAPHIC AGENCY LIMITED (REGISTERED NUMBER: 04942045)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 2,371 4,104

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
S J Kench
Balance outstanding at start of year - -
Amounts advanced 29 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29 -