Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12537315 2023-04-01 2024-03-31 12537315 2022-04-01 2023-03-31 12537315 2024-03-31 12537315 2023-03-31 12537315 2022-04-01 12537315 c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 12537315 d:Director1 2023-04-01 2024-03-31 12537315 c:CurrentFinancialInstruments 2024-03-31 12537315 c:CurrentFinancialInstruments 2023-03-31 12537315 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 12537315 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 12537315 c:ShareCapital 2024-03-31 12537315 c:ShareCapital 2023-03-31 12537315 c:ShareCapital 2022-04-01 12537315 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12537315 c:RetainedEarningsAccumulatedLosses 2024-03-31 12537315 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 12537315 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 12537315 c:RetainedEarningsAccumulatedLosses 2023-03-31 12537315 c:RetainedEarningsAccumulatedLosses 2022-04-01 12537315 d:OrdinaryShareClass1 2023-04-01 2024-03-31 12537315 d:OrdinaryShareClass1 2024-03-31 12537315 d:FRS102 2023-04-01 2024-03-31 12537315 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12537315 d:FullAccounts 2023-04-01 2024-03-31 12537315 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12537315 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-04-01 2024-03-31 12537315 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-03-31 12537315 c:PreviouslyStatedAmount 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12537315














PICTURE 42 LIMITED

 
UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
PICTURE 42 LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Statement of changes in equity
 
2
Notes to the financial statements
 
3 - 5


 
PICTURE 42 LIMITED
REGISTERED NUMBER:12537315

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
92,024
89,430

Cash at bank and in hand
 5 
14,043
1,790

  
106,067
91,220

Creditors: amounts falling due within one year
 6 
(107,761)
(85,484)

Net current (liabilities)/assets
  
 
 
(1,694)
 
 
5,736

Total assets less current liabilities
  
(1,694)
5,736

  

Net (liabilities)/assets
  
(1,694)
5,736


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(1,695)
5,735

  
(1,694)
5,736


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Garland
Director

Date: 29 November 2024

The notes on pages 3 to 5 form part of these financial statements.
1

 
PICTURE 42 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
1
(12,390)
(12,389)


Comprehensive income for the year

Profit for the year
-
18,125
18,125



At 1 April 2023 (as previously stated)
1
(75,265)
(75,264)

Prior year adjustment - correction of error
-
81,000
81,000


At 1 April 2023 (as restated)

1

5,735

5,736


Comprehensive income for the year

Loss for the year
-
(7,430)
(7,430)


At 31 March 2024
1
(1,695)
(1,694)


The notes on pages 3 to 5 form part of these financial statements.

2

 
PICTURE 42 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Picture 42 Limited is a private company, limited by shares, registered in England and Wales, registration number 12537315. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company is that of a licensed restaurant


2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the shareholder has confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3

 
PICTURE 42 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors and loans from third parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

As restated
2024
2023
£
£


Other debtors
5,024
8,015

Prepayments and accrued income
87,000
81,415

92,024
89,430



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,043
1,790



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Other creditors
103,471
80,582

Accruals
4,290
4,902

107,761
85,484


4

 
PICTURE 42 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1



8.


Prior year adjustment

The accrued income for recharges and management fees of £81,000 was omitted in prior year accounts. This has resulted in a prior year adjustment for accrued income and other operating income. 
Due to the above amendment, the retained earnings has been adjusted by £81,000.

9.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £ Nil (2023 - £ 1,009). Included in other debtors at the year end there is an amount repayable of £ 37 (2023 - £ 37).

 
5