Company registration number 03800667 (England and Wales)
BENTLEY PHOTOGRAPHIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
BENTLEY PHOTOGRAPHIC LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
BENTLEY PHOTOGRAPHIC LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr A Ralph
Company number
03800667
Registered office
New Hall Barn
Clacton Road
Horsley Cross
Manningtree
Essex
England
CO11 2NU
Accountants
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
BENTLEY PHOTOGRAPHIC LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
719,333
108,633
Current assets
Stocks
130,069
92,814
Debtors
6
36,996
44,477
Investments
7
-
0
49,300
Cash at bank and in hand
39,533
145,835
206,598
332,426
Creditors: amounts falling due within one year
8
(337,756)
(228,296)
Net current (liabilities)/assets
(131,158)
104,130
Total assets less current liabilities
588,175
212,763
Creditors: amounts falling due after more than one year
9
(387,752)
(28,402)
Provisions for liabilities
(17,496)
(15,345)
Net assets
182,927
169,016
Capital and reserves
Called up share capital
1,250
1,250
Profit and loss reserves
181,677
167,766
Total equity
182,927
169,016
BENTLEY PHOTOGRAPHIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
Mr A Ralph
Director
Company Registration No. 03800667
BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information

Bentley Photographic Limited is a private company limited by shares incorporated in England and Wales. The registered office is New Hall Barn, Clacton Road, Horsley Cross, Manningtree, Essex, England, CO11 2NU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. It has been fully written off in these financial statements.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% SL
Leasehold improvements
10% SL
Computers
33.3% SL
Motor vehicles
25% RB
Printers & processors
33.3% SL
Photographic equipment
25% RB
Office equipment
20% RB

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
20
22
4
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
85,000
Amortisation and impairment
At 1 October 2022 and 30 September 2023
85,000
Carrying amount
At 30 September 2023
-
0
At 30 September 2022
-
0
BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
5
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Computers
Motor vehicles
Printers & processors
Photographic equipment
Office equipment
Total
£
£
£
£
£
£
£
£
Cost
At 1 October 2022
-
0
152,682
95,698
125,126
59,772
138,935
65,081
637,294
Additions
574,119
-
0
7,231
102,333
-
0
681
4,931
689,295
Disposals
-
0
(152,682)
-
0
(43,614)
-
0
-
0
-
(196,296)
At 30 September 2023
574,119
-
0
102,929
183,845
59,772
139,616
70,012
1,130,293
Depreciation and impairment
At 1 October 2022
-
0
152,682
82,221
73,501
59,772
107,300
53,185
528,661
Depreciation charged in the year
1,914
-
0
9,606
24,233
-
0
8,204
3,264
47,221
Eliminated in respect of disposals
-
0
(152,682)
-
0
(12,240)
-
0
-
0
-
(164,922)
At 30 September 2023
1,914
-
0
91,827
85,494
59,772
115,504
56,449
410,960
Carrying amount
At 30 September 2023
572,205
-
0
11,102
98,351
-
0
24,112
13,563
719,333
At 30 September 2022
-
0
-
0
13,477
51,625
-
0
31,635
11,896
108,633
BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
36,996
44,477
7
Current asset investments
2023
2022
£
£
Other investments
-
0
49,300
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
153,411
10,303
Trade creditors
43,723
152,737
Taxation and social security
30,620
18,983
Other creditors
110,002
46,273
337,756
228,296
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
366,817
28,402
Other creditors
20,935
-
0
387,752
28,402

Secured debts included within creditors are in respect of:

1. Hire Purchase contracts which are secured on the assets concerned. Included in creditors for 2023 £35,052 (2022: £2,951).

2. Bank loans and mortgages which are secured with fixed and floating charges over all property and the undertaking of the company. Included in creditors for 2023 £385,467 (2022: £nil).

3. Other loans that are unsecured are guaranteed personally and covered by an insurance policy. Included in creditors for 2023 £104,889 (2022: £nil).

BENTLEY PHOTOGRAPHIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
9
Creditors: amounts falling due after more than one year
(Continued)
- 10 -
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
194,967
-
10
Capital commitments

Amounts contracted for but not provided in the financial statements:

2023
2022
£
£
Acquisition of tangible fixed assets
56,934
-
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