Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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Investments | 5 |
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140,405 | 141,669 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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631,744 | 644,145 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 628,140 | 639,492 | ||
Total assets less current liabilities | 768,545 | 781,161 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Photo Distribution Limited (registered number:
E C Allnutt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Photo Distribution Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 68 Lemon Street, Truro, TR1 2PN, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Land and buildings | not depreciated |
Plant and machinery etc. |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||
At 31 December 2023 |
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At 31 December 2022 |
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Investment property | |
£ | |
Valuation | |
As at 01 January 2023 |
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As at 31 December 2023 |
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Listed investments | Investments in associates | Other investments | Total | ||||
£ | £ | £ | £ | ||||
Cost or valuation before impairment | |||||||
At 01 January 2023 |
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Movement in fair value | (
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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Listed investments and other investment are carried at fair value. Investment in associate is carried at cost less impairment.
Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.12.2023 |
Ownership 31.12.2022 |
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Suite 6 Cres Tregarne, Mawnan Smith, Falmouth, Cornwall, TR11 5JP | Property Letting |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Other creditors |
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Transactions with owners holding a participating interest in the entity
2023 | 2022 | ||
£ | £ | ||
Penhale Estates Limited | 495,780 | 475,280 |
During the current and previous year a loan account existed between the company and its associate. No interest was paid on the loan.
Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Director loan | 0 | 70,000 |
At the balance sheet date, the director owed the company £nil (2022 - £70,000). Interest has been charged at 2.25%.