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
Picture-Connect Limited
Company Information
for the year ended 30 November 2023
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
Picture-Connect Limited
Statement of financial position
as at 30 November 2023
Tangible assets
174,859
283,487
Cash at bank and in hand
34,985
46,572
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)
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
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Other tangible fixed assets
3-5 years ( based on lease period)
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.
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
At 1 December 2022
1,176,826
At 30 November 2023
1,195,476
At 1 December 2022
893,339
Charge for the year
127,278
At 30 November 2023
1,020,617
At 30 November 2023
174,859
At 30 November 2022
283,487
Amounts falling due within one year
Trade debtors
119,700
13,300
Accrued income and prepayments
-
93,500
Other debtors
35,863
2,391
Amounts falling due after more than one year
Accrued income and prepayments
17,000
-
6
Creditors: amounts falling due within one year
2023
2022
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
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
47,776
139,231
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
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).