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REGISTERED NUMBER: 01945826 (England and Wales)













AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FRANK WILKINSON CAMERAS LIMITED

FRANK WILKINSON CAMERAS LIMITED (REGISTERED NUMBER: 01945826)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FRANK WILKINSON CAMERAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







Directors: Mr F Wilkinson
Mr D K Parkinson
Miss A L Wilkinson
Mr P M Edmondson
Mr J Cooke
Mrs A Schultz





Registered office: Unit 25 Charnley Fold Estate
School Lane
Bamber Bridge
Preston
Lancashire
PR5 6PS





Registered number: 01945826 (England and Wales)





Auditors: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

FRANK WILKINSON CAMERAS LIMITED (REGISTERED NUMBER: 01945826)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 384,857 333,227
Investments 6 9,712 9,712
394,569 342,939

CURRENT ASSETS
Stocks 2,397,864 2,478,365
Debtors 7 261,828 131,846
Cash at bank and in hand 174,186 504,683
2,833,878 3,114,894
CREDITORS
Amounts falling due within one year 8 770,028 1,008,919
NET CURRENT ASSETS 2,063,850 2,105,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,458,419

2,448,914

CREDITORS
Amounts falling due after more than one
year

9

(13,334

)

(53,333

)

PROVISIONS FOR LIABILITIES 11 (74,964 ) (62,567 )
NET ASSETS 2,370,121 2,333,014

CAPITAL AND RESERVES
Called up share capital 12 1,733 1,733
Share premium 154,900 154,900
Capital redemption reserve 519 519
Retained earnings 2,212,969 2,175,862
SHAREHOLDERS' FUNDS 2,370,121 2,333,014

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:




Mr D K Parkinson - Director



Mr F Wilkinson - Director


FRANK WILKINSON CAMERAS LIMITED (REGISTERED NUMBER: 01945826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Frank Wilkinson Cameras Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Website development - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The tax expenses for the year comprises current and deferred tax. Tax is recognised in the income statement, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.

Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 43 ) .

FRANK WILKINSON CAMERAS LIMITED (REGISTERED NUMBER: 01945826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Website
leasehold fittings vehicles development Totals
£    £    £    £    £   
COST
At 1 March 2023 120,262 1,465,936 102,672 74,285 1,763,155
Additions - 121,402 11,246 3,438 136,086
Disposals - - (9,500 ) - (9,500 )
At 29 February 2024 120,262 1,587,338 104,418 77,723 1,889,741
DEPRECIATION
At 1 March 2023 110,935 1,232,264 43,819 42,910 1,429,928
Charge for year 1,165 56,209 14,663 11,204 83,241
Eliminated on disposal - - (8,285 ) - (8,285 )
At 29 February 2024 112,100 1,288,473 50,197 54,114 1,504,884
NET BOOK VALUE
At 29 February 2024 8,162 298,865 54,221 23,609 384,857
At 28 February 2023 9,327 233,672 58,853 31,375 333,227

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 1 9,711 9,712
NET BOOK VALUE
At 29 February 2024 1 9,711 9,712
At 28 February 2023 1 9,711 9,712

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 46,613 70,124
Amounts owed by group undertakings 144,555 -
Other debtors 70,660 61,722
261,828 131,846

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 44,377 40,000
Trade creditors 506,576 750,919
Taxation and social security 200,122 201,003
Other creditors 18,953 16,997
770,028 1,008,919

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 13,334 53,333

FRANK WILKINSON CAMERAS LIMITED (REGISTERED NUMBER: 01945826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 223,998 123,782
Between one and five years 524,618 187,583
748,616 311,365

11. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 74,964 62,567

Deferred
tax
£   
Balance at 1 March 2023 62,567
Charge to Statement of Income and Retained Earnings during year 12,397
Balance at 29 February 2024 74,964

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1,733 Ordinary £1 1,733 1,733

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Whittingham BA(Hons) FCA ATT (Senior Statutory Auditor)
for and on behalf of NRB

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr F Wilkinson.