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Company No: 04495317 (England and Wales)

MIKE CALDWELL PHOTOGRAPHY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MIKE CALDWELL PHOTOGRAPHY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MIKE CALDWELL PHOTOGRAPHY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
MIKE CALDWELL PHOTOGRAPHY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr M F Caldwell
SECRETARY Mr P J Caldwell
REGISTERED OFFICE St Ronan
2 Nuns Road
Winchester
SO23 7EF
United Kingdom
COMPANY NUMBER 04495317 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
MIKE CALDWELL PHOTOGRAPHY LIMITED

BALANCE SHEET

As at 31 December 2023
MIKE CALDWELL PHOTOGRAPHY LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 32,497 35,677
32,497 35,677
Current assets
Debtors 4 9,944 2,772
Cash at bank and in hand 92,447 108,199
102,391 110,971
Creditors: amounts falling due within one year 5 ( 22,316) ( 16,639)
Net current assets 80,075 94,332
Total assets less current liabilities 112,572 130,009
Provision for liabilities ( 3,496) ( 3,964)
Net assets 109,076 126,045
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 109,074 126,043
Total shareholder's funds 109,076 126,045

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mike Caldwell Photography Limited (registered number: 04495317) were approved and authorised for issue by the Director on 09 August 2024. They were signed on its behalf by:

Mr M F Caldwell
Director
MIKE CALDWELL PHOTOGRAPHY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MIKE CALDWELL PHOTOGRAPHY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mike Caldwell Photography Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Ronan, 2 Nuns Road, Winchester, SO23 7EF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Vehicles 25 % reducing balance
Office equipment 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Land and buildings Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2023 44,847 24,496 21,386 6,622 97,351
Additions 900 0 0 300 1,200
At 31 December 2023 45,747 24,496 21,386 6,922 98,551
Accumulated depreciation
At 01 January 2023 20,150 22,656 12,744 6,124 61,674
Charge for the financial year 2,269 460 1,296 355 4,380
At 31 December 2023 22,419 23,116 14,040 6,479 66,054
Net book value
At 31 December 2023 23,328 1,380 7,346 443 32,497
At 31 December 2022 24,697 1,840 8,642 498 35,677

4. Debtors

2023 2022
£ £
Trade debtors 9,842 2,670
Other debtors 102 102
9,944 2,772

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 13,944 11,770
Accruals 3,027 2,750
Taxation and social security 5,241 1,911
Other creditors 104 208
22,316 16,639

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2