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Registration number: 07927359

D P Photographic Services Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

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D P Photographic Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

D P Photographic Services Limited

Company Information

Directors

Mr P D Platts

Mrs T Platts

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
D P Photographic Services Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D P Photographic Services Limited for the year ended 29 February 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of D P Photographic Services Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of D P Photographic Services Limited and state those matters that we have agreed to state to the Board of Directors of D P Photographic Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D P Photographic Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that D P Photographic Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of D P Photographic Services Limited. You consider that D P Photographic Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of D P Photographic Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Date:.............................

 

D P Photographic Services Limited

(Registration number: 07927359)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,754

4,765

Current assets

 

Stocks

5

2,000

2,000

Debtors

6

12,027

1,000

Cash at bank and in hand

 

29,752

1,263

 

43,779

4,263

Creditors: Amounts falling due within one year

7

(14,323)

(2,457)

Net current assets

 

29,456

1,806

Total assets less current liabilities

 

32,210

6,571

Provisions for liabilities

(523)

-

Net assets

 

31,687

6,571

Capital and reserves

 

Called up share capital

2

2

Retained earnings

31,685

6,569

Shareholders' funds

 

31,687

6,571

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 Board on 27 November 2024 and signed on its behalf by:
 

 

D P Photographic Services Limited

(Registration number: 07927359)
Balance Sheet as at 29 February 2024

.........................................
Mr P D Platts
Director

 

D P Photographic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales. Registration number 07927359.

The address of its registered office is:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the Board on 27 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.

Turnover

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.

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.

 

D P Photographic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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

Computer equipment

33% on cost

Plant and machinery

25% on cost

Furniture and fittings

25% on cost

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

D P Photographic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 during the year, including directors, was 3 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

1,837

3,689

22,666

28,192

Additions

300

-

318

618

At 29 February 2024

2,137

3,689

22,984

28,810

Depreciation

At 1 March 2023

1,005

3,630

18,792

23,427

Charge for the year

365

47

2,217

2,629

At 29 February 2024

1,370

3,677

21,009

26,056

Carrying amount

At 29 February 2024

767

12

1,975

2,754

At 28 February 2023

832

59

3,874

4,765

 

D P Photographic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Stocks

2024
£

2023
£

Inventory

2,000

2,000

6

Debtors

Current

2024
£

2023
£

Other debtors

-

980

Prepayments

28

20

Trade debtors

11,999

-

12,027

1,000

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

VAT Control account

4,148

137

PAYE and NIC creditor

1,500

226

Accruals

1,062

876

Other creditors

1,597

1,090

Corporation tax control

4,008

-

Trade creditors

7

48

Directors loan account

2,001

80

14,323

2,457