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REGISTERED NUMBER: 07545527 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EXPOSURE PHOTO AGENCY LTD.

EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPOSURE PHOTO AGENCY LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S J Burt
Mrs A J Burt





REGISTERED OFFICE: Redruth House
Cornwall Business Park (West)
Scorrier
REDRUTH
Cornwall
TR16 5EZ





REGISTERED NUMBER: 07545527 (England and Wales)





ACCOUNTANTS: TC Group
Bickland House
Bickland Water Road
Falmouth
Cornwall
TR11 4SB

EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,200 9,600
Tangible assets 5 17,951 22,152
25,151 31,752

CURRENT ASSETS
Debtors 6 6,769 8,458
Cash at bank 52 2,454
6,821 10,912
CREDITORS
Amounts falling due within one year 7 78,952 65,020
NET CURRENT LIABILITIES (72,131 ) (54,108 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(46,980

)

(22,356

)

CREDITORS
Amounts falling due after more than one
year

8

3,307

3,748
NET LIABILITIES (50,287 ) (26,104 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (50,289 ) (26,106 )
(50,287 ) (26,104 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)

BALANCE SHEET - continued
31 MARCH 2024


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 2 September 2024 and were signed on its behalf by:





Mrs A J Burt - Director


EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Exposure Photo Agency Ltd. 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
The company's ability to continue trading is dependent upon the continued support of its creditors and an improvement in the company's trading results. On the assumption that the support is ongoing the directors consider that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result if the bank was to withdraw its support or if trading results do not improve.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance

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 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.

EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 12,000
AMORTISATION
At 1 April 2023 2,400
Charge for year 2,400
At 31 March 2024 4,800
NET BOOK VALUE
At 31 March 2024 7,200
At 31 March 2023 9,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 31,168
Additions 1,618
At 31 March 2024 32,786
DEPRECIATION
At 1 April 2023 9,016
Charge for year 5,819
At 31 March 2024 14,835
NET BOOK VALUE
At 31 March 2024 17,951
At 31 March 2023 22,152

EXPOSURE PHOTO AGENCY LTD. (REGISTERED NUMBER: 07545527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,899 6,526
Other debtors 870 1,932
6,769 8,458

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 531 620
Trade creditors 3,238 894
Taxation and social security 1,781 4,166
Other creditors 73,402 59,340
78,952 65,020

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,307 3,748