Registered number
05668207
HIGH CAMERA LTD
Filleted Accounts
31 March 2024
HIGH CAMERA LTD
Registered number: 05668207
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,490 21,393
Current assets
Debtors 4 5,525 17,078
Cash at bank and in hand 1,100 2,646
6,625 19,724
Creditors: amounts falling due within one year 5 (15,389) (17,294)
Net current (liabilities)/assets (8,764) 2,430
Total assets less current liabilities 12,726 23,823
Creditors: amounts falling due after more than one year 6 (8,444) (9,910)
Provisions for liabilities (3,896) (4,064)
Net assets 386 9,849
Capital and reserves
Called up share capital 1 1
Profit and loss account 385 9,848
Shareholder's funds 386 9,849
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Wheeler
Director
Approved by the board on 23 December 2024
HIGH CAMERA LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% per annum reducing balance basis
Motor vehicles 25% per annum reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 84,205 30,500 114,705
Additions 5,195 700 5,895
At 31 March 2024 89,400 31,200 120,600
Depreciation
At 1 April 2023 68,873 24,439 93,312
Charge for the year 4,107 1,691 5,798
At 31 March 2024 72,980 26,130 99,110
Net book value
At 31 March 2024 16,420 5,070 21,490
At 31 March 2023 15,332 6,061 21,393
4 Debtors 2024 2023
£ £
Trade debtors and prepayments 5,100 17,040
Other debtors 425 38
5,525 17,078
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,473 1,480
Trade creditors and accruals 3,693 3,339
Corporation tax 10,223 9,692
Other creditors - director's loan account - 2,783
15,389 17,294
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,444 9,910
7 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
8 Contingent liabilities
There were no contingent liabilities in existence at the year end.
9 Controlling party
The controlling party is the sole shareholder/director, Mr G Wheeler.
10 Other information
HIGH CAMERA LTD is a private company limited by shares and incorporated in England. Its registered office is:
1 Stonehill Cottages
Grindleton
Clitheroe
Lancashire
BB7 4RH
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