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Photo Memories Limited
 
 
Company Registration Number
06259316
 
 
Report of the Directors and
Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/07/2023
 
End date 30/06/2024
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Photo Memories Limited
 
Contents of the Financial Statements
for the Period Ended 30 June 2024
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Report of the Accountants 5
 
Profit and Loss Account 6
 
Balance Sheet 7 - 8
 
Notes to the Financial Statements 9 - 13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Photo Memories Limited
Company Information
for the Period Ended 30 June 2024
 
Directors R Collen
 
Company secretary Mrs C Collen
 
Registered office 24 Downsview
Chatham
Kent
ME5 0AP
 
Company Registration Number 06259316
 
Accountants Name B R Pusser & Co Ltd
Address 24 Downsview
Chatham
Kent
ME5 0AP
 
Bankers Name Nat West
Address 117 High Street
Gillingham
Kent
ME7 1AG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Photo Memories Limited
Directors Report
for the Period Ended 30 June 2024
The directors present their report with the financial statements of the company for the
period ended 30 June 2024
Principal activities
The principal activity of the company in the period under review was
photography shop
Directors
The director(s) shown below have held office during the whole of the period
R Collen
Company policy on the employment of disabled persons
It is the companys policy to give employment to disabled persons wherever practicable.
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2025-02-12
and signed on behalf of the board by
Name R Collen
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
Photo Memories Limited
 
Accountants' Report
for the Period Ended 30 June 2024
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 30 June 2024. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 30 June 2024 as set out on pages 3 to 15 which comprise of Profit and Loss Account, the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company and its Board of Directors as a body for our
work or for this report.
 
It is your duty to ensure the company has kept adequate accounting records and to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. 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 financial
statements.
 
 
 
 
 
 
 
B R Pusser & Co Ltd
24 Downsview
Chatham
Kent
ME5 0AP
 
Date 2025-02-12
Page 5
Photo Memories Limited
 
Profit and Loss Account
for the Period Ended 30 June 2024
2024 2,023
Notes £ £
 
Turnover 2 87,976 92,828
Cost of sales 75,614 73,111
______ ______
Gross Profit/(Loss) 12,362 19,717
 
Administrative expenses 8,716 9,935
______ ______
Operating costs 8,716 9,935
 
______ ______
Operating Profit/(Loss) 3 3,646 9,782
______ ______
Profit/(Loss) on ordinary activities before taxation 3,646 9,782
 
Tax on profit on ordinary activities 6 693 1,230
____ ____
Profit/(Loss) for the financial period after taxation 2,953 8,552
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 30 June 2024
 
The notes form part of these financial statements
 
 
 
 
 
 
 
 
 
 
 
Page 6
Photo Memories Limited
Balance Sheet
for the Period Ended 30 June 2024
Company registration number 06259316
2024 2,023
Notes £ £
Fixed assets
Intangible fixed assets 8 77,557 80,789
Tangible fixed assets 9 739 907
_______ _______
Total fixed assets 78,296 81,696
Current assets
Stocks 10 4,750 4,750
Cash at bank and in hand 62,854 62,662
_______ _______
Total current assets/(liabilities) 67,604 67,412
Creditors
Creditors - amounts falling
due within one year 12 10,839 3,166
_______ _______
Net current assets 56,765 64,246
_______ _______
Total assets less current liabilities 135,061 145,942
_______ _______
Creditors - amounts falling
due after more than one year 13 84,341 98,175
_______ _______
Long term creditors 84,341 98,175
_____ _____
Net assets/(liabilities) 50,720 47,767
Capital and reserves
Called up share capital 14 2 2
Profit and loss account 15 50,718 47,765
_____ _____
Total shareholders funds 50,720 47,767
 
 
 
 
 
 
 
Page 7
Photo Memories Limited
 
Balance Sheet
for the Period Ended 30 June 2024
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
For the year ending 30 June 2024 the company was entitled to exemption 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.
 
The financial statements were approved by the Board of Directors on 2025-02-12
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name R Collen
 
The notes form part of these financial statements
Average number of employees during period 4
 
 
 
 
 
 
 
 
 
Page 8
Photo Memories Limited
Notes to the Financial Statements
for the Period Ended 30 June 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
 
 
 
 
 
 
 
 
 
 
 
Page 9
Photo Memories Limited
Notes to the Financial Statements
for the Period Ended 30 June 2024
2. Turnover 2024 2,023
£ £
United Kingdom 87,976 92,828
_____ _____
Total 87,976 92,828
3. Operating profit/(loss) 2024 2,023
Profit before tax as stated after charging the following £ £
Depreciation - owned assets 168 186
Accountants and audit fees 1,000 1,000
Amortisation charge for the year 3,232 3,367
4. Directors' remuneration 2024 2,023
£ £
Directors remuneration
Value of directors pension contributions
_ _
Total
The number of Directors accruing pension benefits was
5. Employees 2024 2,023
£ £
Wages and salaries 43,365 40,642
_____ _____
Total staff costs 43,365 40,642
6. Taxation
The tax charge on the profit on ordinary activities 2024 2,023
for the period was as follows £ £
UK Corporation Tax net of reliefs 693 1,230
___ ____
Tax on profit on ordinary activities 693 1,230
7. Dividends 2024 2,023
£ £
Dividend on ordinary shares paid in period
 
 
 
 
 
 
 
 
 
 
Page 10
Photo Memories Limited
Notes to the Financial Statements
for the Period Ended 30 June 2024
8. Intangible fixed assets Goodwill Total
Cost £ £
At 1 July 2023 138,471 138,471
______ ______
At 30 June 2024 138,471 138,471
Amortisation
At 1 July 2023 57,682 57,682
Charge during the period 3,232 3,232
_____ _____
At 30 June 2024 60,914 60,914
Net book value
At 30 June 2024 77,557 77,557
At 30 June 2023 80,789 80,789
 
9. Tangible fixed assets
Plant and Total
machinery
Cost £ £
At 1 July 2023 18,791 18,791
_____ _____
At 30 June 2024 18,791 18,791
Depreciation
At 1 July 2023 17,884 17,884
Charge for year 168 168
_____ _____
At 30 June 2024 18,052 18,052
Net book value
At 30 June 2024 739 739
At 30 June 2023 907 907
 
 
 
 
 
 
 
 
 
 
 
 
Page 11
Photo Memories Limited
Notes to the Financial Statements
for the Period Ended 30 June 2024
10. Stocks 2024 2,023
Finished goods 4,750 4,750
Total 4,750 4,750
11. Debtors 2024 2,023
_ _
Total
12. Creditors amounts falling due within one year 2024 2,023
Trade creditors 10,146 1,936
Corporation tax 693 1,230
_____ ____
Total 10,839 3,166
13. Creditors amounts falling due after more than one year 2024 2,023
Other creditors 84,341 98,175
_____ _____
Total 84,341 98,175
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 12
Photo Memories Limited
Notes to the Financial Statements
for the Period Ended 30 June 2024
14. Share capital 2024 2,023
Authorised type Par value £ £
Ordinary 1 2 2
_ _
Total 2 2
Allotted, called up and paid £ £
Ordinary 2 2
_ _
Total 2 2
15. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 July 2023 47,765
Profit/(Loss) for year 2,953
Dividends paid
_____
Retained Profit/(Loss) at 30 June 2024 50,718
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 13