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Logo On Report
Registered Number: 07951366
England and Wales

 

 

 

EXETER PHOTO CENTRE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 28 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 6,500    6,500 
Tangible fixed assets 4 54,536    52,579 
61,036    59,079 
Current assets      
Stocks 6,850    6,500 
Debtors: amounts falling due within one year 7,640    28,750 
Debtors: amounts falling due after one year 11,250    11,250 
Cash at bank and in hand 54,492    72,518 
80,232    119,018 
Creditors: amount falling due within one year (30,343)   (59,877)
Net current assets 49,889    59,141 
 
Total assets less current liabilities 110,925    118,220 
Creditors: amount falling due after more than one year (10,442)   (22,680)
Provisions for liabilities (324)   (109)
Net assets 100,159    95,431 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 100,059    95,331 
Shareholders' funds 100,159    95,431 
 


For the year, the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 November 2024 and were signed by:


-------------------------------
Taghreed Botros
Director
1
General Information
EXETER PHOTO CENTRE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07951366, registration address 82 QUEEN STREET, EXETER ENGLAND, EX4 3RP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20 Reducing Balance
Fixtures and Fittings 20 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Intangible fixed assets

Cost Franchise Fees   Total
  £   £
At 01 March 2023 6,500    6,500 
Additions  
Disposals  
At 28 February 2024 6,500    6,500 
Net book values
At 28 February 2024 6,500    6,500 
At 28 February 2023 6,500    6,500 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 March 2023 10,818    170,346    181,164 
Additions   15,591    15,591 
Disposals    
At 28 February 2024 10,818    185,937    196,755 
Depreciation
At 01 March 2023 6,229    122,356    128,585 
Charge for year 917    12,717    13,634 
On disposals    
At 28 February 2024 7,146    135,073    142,219 
Net book values
Closing balance as at 28 February 2024 3,672    50,864    54,536 
Opening balance as at 01 March 2023 4,589    47,990    52,579 


2