Company registration number 04406113 (England and Wales)
Guy Farrow Photography Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Guy Farrow Photography Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Guy Farrow Photography Limited
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,927
4,835
Current assets
Debtors
4
77,523
112,198
Cash at bank and in hand
137,078
130,098
214,601
242,296
Creditors: amounts falling due within one year
5
(25,053)
(27,012)
Net current assets
189,548
215,284
Net assets
193,475
220,119
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
193,375
220,019
Total equity
193,475
220,119
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 29 October 2024
G F Farrow
Director
Company registration number 04406113 (England and Wales)
Guy Farrow Photography Limited
Notes to the financial statements
for the year ended 31 March 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
Straight line over the life of the lease
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
Guy Farrow Photography Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 3 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
124,132
68,229
25,037
46,126
263,524
Depreciation and impairment
At 1 April 2023
124,132
66,092
24,161
44,304
258,689
Depreciation charged in the year
321
131
456
908
At 31 March 2024
124,132
66,413
24,292
44,760
259,597
Carrying amount
At 31 March 2024
1,816
745
1,366
3,927
At 31 March 2023
2,137
876
1,822
4,835
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
31,721
67,039
Other debtors
45,802
45,159
77,523
112,198
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
15,946
17,955
Other taxation and social security
7,107
7,057
Accruals and deferred income
2,000
2,000
25,053
27,012
6
Company information
Guy Farrow Photography Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Studio, 49 Dyke End, Slaithwaite, Huddersfield, West Yorkshire, HD7 4LA.