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REGISTERED NUMBER: 06712004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PICTURE BLAST LIMITED

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PICTURE BLAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Entwistle
D J Morrison





REGISTERED OFFICE: 1&2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX





REGISTERED NUMBER: 06712004 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 467,376 198,546

CURRENT ASSETS
Debtors 5 94,088 133,774
Investments 6 - 354,432
Cash at bank 519,029 86,932
613,117 575,138
CREDITORS
Amounts falling due within one year 7 483,047 383,693
NET CURRENT ASSETS 130,070 191,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

597,446

389,991

CREDITORS
Amounts falling due after more than one
year

8

(302,073

)

(80,335

)

PROVISIONS FOR LIABILITIES (116,844 ) (37,724 )
NET ASSETS 178,529 271,932

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 177,529 270,932
178,529 271,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

BALANCE SHEET - continued
31 MARCH 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





P Entwistle - Director


PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Picture Blast Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 289,588 22,493 170,808 445 483,334
Additions 46,715 1,150 350,730 - 398,595
Disposals - - (48,315 ) - (48,315 )
At 31 March 2024 336,303 23,643 473,223 445 833,614
DEPRECIATION
At 1 April 2023 182,860 5,623 96,158 147 284,788
Charge for year 10,748 4,505 114,365 147 129,765
Eliminated on disposal - - (48,315 ) - (48,315 )
At 31 March 2024 193,608 10,128 162,208 294 366,238
NET BOOK VALUE
At 31 March 2024 142,695 13,515 311,015 151 467,376
At 31 March 2023 106,728 16,870 74,650 298 198,546

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 31,460
Amounts owed by group undertakings 16,334 330
Other debtors 70,500 38,289
Directors' current accounts - 59,860
Prepayments 7,254 3,835
94,088 133,774

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Prudential investment account - 354,432

PICTURE BLAST LIMITED (REGISTERED NUMBER: 06712004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 8,333
Hire purchase contracts 78,138 18,636
Trade creditors 22,951 15,926
Corporation tax 3,481 47,010
Social security and other taxes 13,357 11,268
Pensions 933 687
VAT 62,850 63,724
Directors' current accounts 1,082 168
Deferred Income 287,555 215,376
Accrued expenses 2,700 2,565
483,047 383,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 -
Bank loans - 2-5 years 1,667 23,354
Hire purchase contracts 290,406 56,981
302,073 80,335

9. RESERVES
Retained
earnings
£   

At 1 April 2023 270,932
Profit for the year 147,597
Dividends (241,000 )
At 31 March 2024 177,529

10. ULTIMATE CONTROLLING PARTY

The controlling party is P Entwistle.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PICTURE BLAST LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Picture Blast Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Picture Blast Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Picture Blast Limited. You consider that Picture Blast 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 financial statements of Picture Blast 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 financial statements.






Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX


21 October 2024