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Company Registration No. 06000937 (England and Wales)
Picture-Connect Limited Unaudited accounts for the year ended 30 November 2023
Picture-Connect Limited Unaudited accounts Contents
Page
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Picture-Connect Limited Company Information for the year ended 30 November 2023
Director
V Nikolaidis
Company Number
06000937 (England and Wales)
Registered Office
C/O HQ, Vintage House 36-37 Albert Embankment London SE1 7TL
Accountants
Financial and Accounting Solutions 6 Hadleigh Close Harrow Middlesex HA2 8FA
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Picture-Connect Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
174,859 
283,487 
Current assets
Debtors
172,563 
114,660 
Cash at bank and in hand
34,985 
46,572 
207,548 
161,232 
Creditors: amounts falling due within one year
(244,464)
(254,089)
Net current liabilities
(36,916)
(92,857)
Total assets less current liabilities
137,943 
190,630 
Creditors: amounts falling due after more than one year
(47,776)
(139,231)
Provisions for liabilities
Deferred tax
(6,060)
(14,621)
Net assets
84,107 
36,778 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
84,007 
36,678 
Shareholders' funds
84,107 
36,778 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 August 2024 and were signed on its behalf by
V Nikolaidis Director Company Registration No. 06000937
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Picture-Connect Limited is a private company, limited by shares, registered in England and Wales, registration number 06000937. The registered office is C/O HQ, Vintage House, 36-37 Albert Embankment, London, SE1 7TL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% WDV
Other tangible fixed assets
3-5 years ( based on lease period)
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2022
1,176,826 
Additions
18,650 
At 30 November 2023
1,195,476 
Depreciation
At 1 December 2022
893,339 
Charge for the year
127,278 
At 30 November 2023
1,020,617 
Net book value
At 30 November 2023
174,859 
At 30 November 2022
283,487 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
5,469 
Trade debtors
119,700 
13,300 
Accrued income and prepayments
- 
93,500 
Other debtors
35,863 
2,391 
155,563 
114,660 
Amounts falling due after more than one year
Accrued income and prepayments
17,000 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,400 
- 
Obligations under finance leases and hire purchase contracts
112,569 
122,025 
Trade creditors
3,110 
3,110 
Amounts owed to group undertakings and other participating interests
110,000 
- 
Taxes and social security
5,285 
- 
Loans from directors
- 
120,854 
Accruals
11,100 
8,100 
244,464 
254,089 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
47,776 
139,231 
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Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
V Nikolaidis
Loan
- 
35,863 
- 
35,863 
- 
35,863 
- 
35,863 
Mr V Nikolaidis has repaid the outstanding amount prior to 9 months from the year end.
9
Transactions with related parties
During the year the company traded with Westminster Live Limited (WML) and provided services in the year to the value of£102,000 (YE 30/11/22 - £102,000) and amount owed to Picture Connect Ltd was £110,000(Cr) (YE 30/11/22 NIL). The company also traded with Camelot Broadcasting Services Gmbh (CBSG) and transactions in the year were £119,700 (YE 30/11/22 - £159,600) and amount owed to CBSG was £119,700 (YE 30/11/22 - £13,300). These companies are linked to each other by a common director and shareholder.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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