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REGISTERED NUMBER: 07997685 (England and Wales)















Photiades Ltd

Unaudited Financial Statements For The Year Ended 31 March 2024






Photiades Ltd (Registered number: 07997685)






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


Photiades Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mr W Harvey
Mr D Shiebert





REGISTERED OFFICE: Longmire House
36-38 London Road
St Albans
Hertfordshire
AL1 1NG





REGISTERED NUMBER: 07997685 (England and Wales)

Photiades Ltd (Registered number: 07997685)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 13,000
Property, plant and equipment 5 37,286 39,394
37,286 52,394

CURRENT ASSETS
Debtors 6 431,454 441,492
Cash at bank 222,882 447,543
654,336 889,035
CREDITORS
Amounts falling due within one year 7 (180,973 ) (132,523 )
NET CURRENT ASSETS 473,363 756,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,649

808,906

PROVISIONS FOR LIABILITIES (2,439 ) (2,966 )
NET ASSETS 508,210 805,940

CAPITAL AND RESERVES
Called up share capital 66 99
Capital redemption reserve 33 -
Retained earnings 508,111 805,841
SHAREHOLDERS' FUNDS 508,210 805,940

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.

Photiades Ltd (Registered number: 07997685)

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 17 September 2024 and were signed on its behalf by:




Mr W Harvey - Director Mr D Shiebert - Director




Mr J Cox - Director


Photiades Ltd (Registered number: 07997685)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Photiades 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents services provided during the year, exclusive of Value Added Tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill relates to the acquisition of a business in 2012 which is being amortised evenly over its estimated useful life of ten years and another acquisition of a business in 2015 which 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.
Freehold property - not provided
Fixtures and fittings - 15% on cost
Computer equipment - 20% on cost

No depreciation has been charged on freehold property. The property is regularly reviewed for impairment.

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.

Photiades Ltd (Registered number: 07997685)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 12 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 166,580
AMORTISATION
At 1 April 2023 153,580
Amortisation for year 13,000
At 31 March 2024 166,580
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 13,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 27,530 7,041 32,401 66,972
Additions - 1,941 - 1,941
Disposals - - (4,383 ) (4,383 )
At 31 March 2024 27,530 8,982 28,018 64,530
DEPRECIATION
At 1 April 2023 - 3,938 23,640 27,578
Charge for year - 1,049 3,000 4,049
Eliminated on disposal - - (4,383 ) (4,383 )
At 31 March 2024 - 4,987 22,257 27,244
NET BOOK VALUE
At 31 March 2024 27,530 3,995 5,761 37,286
At 31 March 2023 27,530 3,103 8,761 39,394

Photiades Ltd (Registered number: 07997685)

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 187,845 190,035
Tax 6,278 6,278
Prepayments and accrued income 237,331 245,179
431,454 441,492

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,962 -
Tax 73,571 51,299
Social security and other taxes 17,195 6,171
VAT 69,400 61,507
Directors' current accounts 987 1,107
Accrued expenses 9,858 12,439
180,973 132,523

8. SECURED DEBTS

A Debenture dated 29 May 2012 was created by the company for securing all monies due or to become due from the company to Barclays Bank PLC on any account whatsoever.

9. RELATED PARTY DISCLOSURES

During the year the company paid dividends of £204,500 (2023 - £132,000) to the directors of the company.

At the year end the company owed £423 to the director Mr W Harvey (2023 - £691)

At the year end the company owed £183 to the director Mr D Shiebert (2023 - £230)

At the year end the company owed £381 to the director Mr J Cox (2023 - £187)