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Registration number: 07720936

Glen Jevon Photography & Video Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Glen Jevon Photography & Video Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Glen Jevon Photography & Video Limited

Company Information

Director

Mr G A Jevon

Registered office

Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Glen Jevon Photography & Video Limited

(Registration number: 07720936)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,216

8,088

Current assets

 

Debtors

5

281

260

Cash at bank and in hand

 

1,504

1,795

 

1,785

2,055

Creditors: Amounts falling due within one year

6

(17,855)

(11,028)

Net current liabilities

 

(16,070)

(8,973)

Total assets less current liabilities

 

(8,854)

(885)

Creditors: Amounts falling due after more than one year

6

(2,336)

(3,708)

Net liabilities

 

(11,190)

(4,593)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(11,290)

(4,693)

Shareholders' deficit

 

(11,190)

(4,593)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 October 2024
 

 

Glen Jevon Photography & Video Limited

(Registration number: 07720936)
Balance Sheet as at 31 January 2024 (continued)

.........................................
Mr G A Jevon
Director

 

Glen Jevon Photography & Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

These financial statements were authorised for issue by the director on 18 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has negative equity of -£12,000 (2023: -£4,693). The directors believe that the company will be able to meet its financial obligations as they fall due and have guaranteed that they will continue to support the business for a period of 12 months from the date the accounts are authorised for issue. Therefore they see no reason to disapply the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Glen Jevon Photography & Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing Balance

Computer Equipment

25% Reducing Balance

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Glen Jevon Photography & Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

6,817

36,627

43,444

Additions

1,199

-

1,199

At 31 January 2024

8,016

36,627

44,643

Depreciation

At 1 February 2023

3,800

31,556

35,356

Charge for the year

803

1,268

2,071

At 31 January 2024

4,603

32,824

37,427

Carrying amount

At 31 January 2024

3,413

3,803

7,216

At 31 January 2023

3,017

5,071

8,088

5

Debtors

Current

2024
£

2023
£

Prepayments

281

260

 

281

260

 

Glen Jevon Photography & Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,780

1,491

Accruals and deferred income

 

846

828

Other creditors

 

15,229

8,709

 

17,855

11,028

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,336

3,708

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Glen Jevon Photography & Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,336

3,708

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,780

1,491

Loan

A loan of £3,827 (2023: £5,200) is unsecured for a period of 32 months and attracts interest of 2.5% per annum. Repayments are made monthly.

Amount due for repayment:
Less than 1 year: £1,491 (2023 - £1,491)
More than 1 year and less than 5 years: £2,336 (2023 - £3,709)

Another loan of £289 (2023: £nil) is repayable within 1 year.

9

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Other payments made to company by director
£

At 31 January 2024
£

Mr G A Jevon

The loan is interest free and is repayable on demand.

(8,709)

(6,520)

(15,229)