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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
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
51,865 
28,725 
Current assets
Debtors
36,755 
31,136 
Cash at bank and in hand
131,749 
138,035 
168,504 
169,171 
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)
Net assets
87,763 
60,956 
Capital and reserves
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
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Photography Hub Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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 taxation
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.
- 3 -
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 
Depreciation
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 
Net book value
At 31 May 2024
45,444 
6,421 
51,865 
At 31 May 2023
23,938 
4,787 
28,725 
5
Debtors
2024 
2023 
£ 
£ 
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 
36,755 
31,136 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,759 
11,759 
VAT
13,299 
9,380 
Trade creditors
- 
4,615 
Amounts owed to group undertakings and other participating interests
4,014 
4,734 
Taxes and social security
23,374 
16,432 
Other creditors
234 
296 
Loans from directors
23,631 
26,582 
Accruals
20,502 
24,442 
96,813 
98,240 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
13,098 
23,098 
Amounts owed to group undertakings and other participating interests
10,000 
10,000 
23,098 
33,098 
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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).
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