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Registration number: 2995982

Photo Finishes Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 November 2023

 

Photo Finishes Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Photo Finishes Limited

Company Information

Director

Mr Andrew Franklin

Company secretary

Mrs Victoria Franklin

Registered office

1 Forum House
Empire Way
Wembley
Middlesex
HA9 0AB

Accountants

PKP & Company Limited
Chartered Certified Accountants
1 Forum House
Empire Way
Wembley
HA9 0AB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Photo Finishes Limited
for the Year Ended 29 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Photo Finishes Limited for the year ended 29 November 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Photo Finishes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Photo Finishes Limited and state those matters that we have agreed to state to the Board of Directors of Photo Finishes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Photo Finishes Limited and its Board of Directors as a body for our work or for this report.

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

......................................

PKP & Company Limited
Chartered Certified Accountants
1 Forum House
Empire Way
Wembley
HA9 0AB

21 August 2024

 

Photo Finishes Limited

(Registration number: 2995982)
Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

722

915

Current assets

 

Debtors

6

17,005

18,198

Cash at bank and in hand

 

40,390

69,799

 

57,395

87,997

Creditors: Amounts falling due within one year

7

(44,116)

(45,558)

Net current assets

 

13,279

42,439

Net assets

 

14,001

43,354

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

13,999

43,352

Shareholders' funds

 

14,001

43,354

For the financial year ending 29 November 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 August 2024
 

.........................................
Mr Andrew Franklin
Director

 

Photo Finishes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Forum House
Empire Way
Wembley
Middlesex
HA9 0AB

The principal place of business is:
Wildacres
Orchard Close
East Horsley
Leatherhead
Surrey
KT24 5EZ

These financial statements were authorised for issue by the director on 21 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

 

Photo Finishes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

193

48

 

Photo Finishes Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 30 November 2022

915

915

At 29 November 2023

915

915

Depreciation

Charge for the year

193

193

At 29 November 2023

193

193

Carrying amount

At 29 November 2023

722

722

At 29 November 2022

915

915

6

Debtors

Current

2023
£

2022
£

Other debtors

17,005

18,198

 

17,005

18,198

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,500

3,500

Other creditors

42,616

42,058

44,116

45,558

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2