Neil Holmes Photography Limited 08468701 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Commercial Photography. Digita Accounts Production Advanced 6.30.9574.0 true 08468701 2023-04-01 2024-03-31 08468701 2024-03-31 08468701 core:CurrentFinancialInstruments 2024-03-31 08468701 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08468701 core:OtherPropertyPlantEquipment 2024-03-31 08468701 bus:SmallEntities 2023-04-01 2024-03-31 08468701 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08468701 bus:FilletedAccounts 2023-04-01 2024-03-31 08468701 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08468701 bus:RegisteredOffice 2023-04-01 2024-03-31 08468701 bus:Director1 2023-04-01 2024-03-31 08468701 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08468701 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08468701 core:PlantMachinery 2023-04-01 2024-03-31 08468701 countries:EnglandWales 2023-04-01 2024-03-31 08468701 2023-03-31 08468701 core:OtherPropertyPlantEquipment 2023-03-31 08468701 2022-04-01 2023-03-31 08468701 2023-03-31 08468701 core:CurrentFinancialInstruments 2023-03-31 08468701 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08468701 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08468701

Neil Holmes Photography Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Neil Holmes Photography Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Neil Holmes Photography Limited

Company Information

Director

Mr N Holmes

Registered office

Bridge House
41 Wincolmlee
Hull
East Yorkshire
HU2 8AG

 

Neil Holmes Photography Limited

(Registration number: 08468701)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,288

12,769

 

12,288

12,769

Current assets

 

Debtors

5

1,662

4,226

Cash at bank and in hand

 

13,933

12,540

 

15,595

16,766

Creditors: Amounts falling due within one year

6

(5,783)

(6,400)

Net current assets

 

9,812

10,366

Total assets less current liabilities

 

22,100

23,135

Provisions for liabilities

(2,335)

(2,426)

Net assets

 

19,765

20,709

Capital and reserves

 

Called up share capital

1

1

Retained earnings

19,764

20,708

Shareholders' funds

 

19,765

20,709

For the financial year ending 31 March 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 his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 November 2024
 

.........................................
Mr N Holmes
Director

 

Neil Holmes Photography Limited

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

1

General information

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

The address of its registered office is:
Bridge House
41 Wincolmlee
Hull
East Yorkshire
HU2 8AG
United Kingdom

The principal place of business is:
11 Newington Avenue
KINGSTON UPON HULL
East Yorkshire
HU4 6EP

These financial statements were authorised for issue by the director on 8 November 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Neil Holmes Photography Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Neil Holmes Photography Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

19,064

19,064

Additions

2,908

2,908

Disposals

(2,123)

(2,123)

At 31 March 2024

19,849

19,849

Depreciation

At 1 April 2023

6,295

6,295

Charge for the year

2,048

2,048

Eliminated on disposal

(782)

(782)

At 31 March 2024

7,561

7,561

Carrying amount

At 31 March 2024

12,288

12,288

At 31 March 2023

12,769

12,769

 

Neil Holmes Photography Limited

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,242

3,806

Prepayments

420

420

 

1,662

4,226

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

755

681

Trade creditors

 

572

422

Taxation and social security

 

2,861

3,942

Accruals and deferred income

 

1,545

1,290

Other creditors

 

50

65

 

5,783

6,400

 

Neil Holmes Photography Limited

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

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

755

681