Company Registration No. 6585629 (England and Wales)
Photography Hub Limited
Unaudited accounts
for the year ended 31 May 2024
Photography Hub Limited
Statement of financial position
as at 31 May 2024
Tangible assets
51,865
28,725
Cash at bank and in hand
131,749
138,035
Creditors: amounts falling due within one year
(96,813)
(98,240)
Net current assets
71,691
70,931
Total assets less current liabilities
123,556
99,656
Creditors: amounts falling due after more than one year
(23,098)
(33,098)
Provisions for liabilities
Deferred tax
(12,695)
(5,602)
Called up share capital
3
3
Profit and loss account
87,760
60,953
Shareholders' funds
87,763
60,956
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
S C Wilkinson
Director
Company Registration No. 6585629
Photography Hub Limited
Notes to the Accounts
for the year ended 31 May 2024
Photography Hub Limited is a private company, limited by shares, registered in England and Wales, registration number 6585629. The registered office is 7 Grove Road, ILKLEY, West Yorkshire, LS29 9PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Computer equipment
33% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Photography Hub Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
85,610
20,387
105,997
Additions
32,827
3,847
36,674
At 31 May 2024
118,437
24,234
142,671
At 1 June 2023
61,672
15,600
77,272
Charge for the year
11,321
2,213
13,534
At 31 May 2024
72,993
17,813
90,806
At 31 May 2024
45,444
6,421
51,865
At 31 May 2023
23,938
4,787
28,725
Amounts falling due within one year
Trade debtors
35,993
30,431
Amounts due from group undertakings etc.
377
341
Accrued income and prepayments
385
364
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,759
11,759
Amounts owed to group undertakings and other participating interests
4,014
4,734
Taxes and social security
23,374
16,432
Loans from directors
23,631
26,582
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
10,000
10,000
Photography Hub Limited
Notes to the Accounts
for the year ended 31 May 2024
8
Transactions with related parties
The Director, Mr S C Wilkinson, holds 67% of the share capital of the company.
At the year end, the company owed The Director £23,631 (2023 - £26,582)
The Director also owns a company Pan Y Aqua Velo Europe Limited and this company owes £14,014 (2022 - £14,734) to that company. The Director also owns a company Well Done Media Limited and that company owes £377 (2023 - £341) to this company.
Dividends of £57,849 (2023 - £57,224) were paid in the year.
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).