Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalse15false2023-01-01No description of principal activity86trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03455129 2023-01-01 2023-12-31 03455129 2022-01-01 2022-12-31 03455129 2023-12-31 03455129 2022-12-31 03455129 c:Director1 2023-01-01 2023-12-31 03455129 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 03455129 d:Buildings d:ShortLeaseholdAssets 2023-12-31 03455129 d:Buildings d:ShortLeaseholdAssets 2022-12-31 03455129 d:FurnitureFittings 2023-01-01 2023-12-31 03455129 d:FurnitureFittings 2023-12-31 03455129 d:FurnitureFittings 2022-12-31 03455129 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03455129 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03455129 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 03455129 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 03455129 d:Goodwill 2023-12-31 03455129 d:Goodwill 2022-12-31 03455129 d:ComputerSoftware 2023-12-31 03455129 d:ComputerSoftware 2022-12-31 03455129 d:CurrentFinancialInstruments 2023-12-31 03455129 d:CurrentFinancialInstruments 2022-12-31 03455129 d:Non-currentFinancialInstruments 2023-12-31 03455129 d:Non-currentFinancialInstruments 2022-12-31 03455129 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03455129 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03455129 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03455129 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03455129 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03455129 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03455129 d:ShareCapital 2023-12-31 03455129 d:ShareCapital 2022-12-31 03455129 d:RetainedEarningsAccumulatedLosses 2023-12-31 03455129 d:RetainedEarningsAccumulatedLosses 2022-12-31 03455129 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03455129 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03455129 c:FRS102 2023-01-01 2023-12-31 03455129 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03455129 c:FullAccounts 2023-01-01 2023-12-31 03455129 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03455129 d:Subsidiary1 2023-01-01 2023-12-31 03455129 d:Subsidiary1 1 2023-01-01 2023-12-31 03455129 d:Subsidiary2 2023-01-01 2023-12-31 03455129 d:Subsidiary2 1 2023-01-01 2023-12-31 03455129 d:Subsidiary3 2023-01-01 2023-12-31 03455129 d:Subsidiary3 1 2023-01-01 2023-12-31 03455129 d:Subsidiary4 2023-01-01 2023-12-31 03455129 d:Subsidiary4 1 2023-01-01 2023-12-31 03455129 d:Subsidiary5 2023-01-01 2023-12-31 03455129 d:Subsidiary5 1 2023-01-01 2023-12-31 03455129 d:Subsidiary6 2023-01-01 2023-12-31 03455129 d:Subsidiary6 1 2023-01-01 2023-12-31 03455129 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 03455129 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 03455129 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03455129 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03455129 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03455129 6 2023-01-01 2023-12-31 03455129 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 03455129 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-12-31 03455129 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-12-31 03455129 d:LeasedAssetsHeldAsLessee 2023-12-31 03455129 d:LeasedAssetsHeldAsLessee 2022-12-31 03455129 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03455129 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03455129 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 03455129 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03455129









THE PACKSHOT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE PACKSHOT COMPANY LIMITED
REGISTERED NUMBER: 03455129

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
8,100
14,885

Tangible assets
 6 
55,437
176,063

Investments
 7 
21,722
21,722

  
85,259
212,670

Current assets
  

Stocks
  
31,000
-

Debtors: amounts falling due within one year
 8 
4,045,606
3,870,579

Cash at bank and in hand
 9 
76,503
304,704

  
4,153,109
4,175,283

Creditors: amounts falling due within one year
 10 
(3,388,968)
(3,657,217)

Net current assets
  
 
 
764,141
 
 
518,066

Total assets less current liabilities
  
849,400
730,736

Creditors: amounts falling due after more than one year
 11 
(330,000)
(550,000)

Provisions for liabilities
  

Deferred tax
  
(18,971)
(18,971)

  
 
 
(18,971)
 
 
(18,971)

Net assets
  
500,429
161,765


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
499,429
160,765

  
500,429
161,765


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
Page 1

 
THE PACKSHOT COMPANY LIMITED
REGISTERED NUMBER: 03455129
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 on 25 February 2025.




Lee Friend
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Packshot Company Limited is a private Company limited by shares, registered and incorporated in England. The Company's registered office and principle place of business is 43 Carol Street, Unit 2, London, NW1 0HT. 
The principal activity of the Company is that of commercial photography, video and film production.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

Page 4

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 income 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Intangible assets comprise of Goodwill and Computer Software.
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and. the·acqu1rer's interest in the fair value of the Group's share of its identifiable assets and .liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment iosses.. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. .
The estimated useful lives range as follows:
 
Goodwill                     - 10 years
Computer software      - 5 years
Trademarks                 - 10 years

Page 5

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

Page 6

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The management makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities  within the next year are addressed below: 
Useful economic lives of tangible assets 
The annual depreciation· charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based ontechnological advancement, future investments, economic utilisation and the physical condition of the assets. See Note 6 for the carrying amount of the Fixtures and fittings and Note 2.10 for the useful economic lives for each class of assets.

Page 7

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Employees

2023
2022
£
£

Wages and salaries
611,202
1,600,944

Social security costs
65,246
265,622

Cost of defined contribution scheme
13,686
13,492

690,134
1,880,058


The average monthly number of employees, including directors, during the year was 15 (2022 - 86).


5.


Intangible assets




Trademarks
Computer software
Goodwill
Total

£
£
£
£



Cost


At 1 January 2023
-
141,628
5,000
146,628


Additions
9,000
-
-
9,000



At 31 December 2023

9,000
141,628
5,000
155,628



Amortisation


At 1 January 2023
-
126,743
5,000
131,743


Charge for the year on owned assets
900
14,885
-
15,785



At 31 December 2023

900
141,628
5,000
147,528



Net book value



At 31 December 2023
8,100
-
-
8,100



At 31 December 2022
-
14,885
-
14,885



Page 8

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
179,823
819,155
998,978


Additions
-
17,024
17,024


Disposals
-
(11,771)
(11,771)



At 31 December 2023

179,823
824,408
1,004,231



Depreciation


At 1 January 2023
179,823
643,092
822,915


Charge for the year on owned assets
-
137,650
137,650


Disposals
-
(11,771)
(11,771)



At 31 December 2023

179,823
768,971
948,794



Net book value



At 31 December 2023
-
55,437
55,437



At 31 December 2022
-
176,063
176,063

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Furniture, fittings and equipment
-
118,590

-
118,590

Page 9

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
21,268
454
21,722



At 31 December 2023
21,268
454
21,722





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

The Packshot Ireland Limited
Dublin, Republic of Ireland
Ordinary
100%
Packshot GmbH
Germany
Ordinary
100%
Fashot BV
Amsterdam
Ordinary
100%
The Packshot Company (Netherlands) Limited
London, United Kingdom
Ordinary
100%
Amster Shot Limited
London, United Kingdom
Ordinary
100%
Amster Shot BV
Amsterdam
Ordinary
100%

Amster Shot Limited is 100% controlled by The Packshot Company Limited and 100% owned directly and indirectly by L Friend, the controlling party. 
Amster Shot BV is 100% controlled by The Packshot Company Limited through 100% owend directly by Fashot BV.

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings was as follows:

Name
Profit/(Loss)
£

The Packshot Ireland Limited
(12,202)

Packshot GmbH
(141,630)

Fashot BV
228,750

The Packshot Company (Netherlands) Limited
-

Amster Shot Limited
-

Amster Shot BV
289,744


8.


Debtors

2023
2022
Page 10

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.Debtors (continued)

£
£


Trade debtors
127,744
139,783

Amounts owed by group undertakings
1,423,346
2,139,850

Amounts owed by joint ventures and associated undertakings
513,579
540,227

Other debtors
1,834,315
907,471

Prepayments and accrued income
146,622
143,248

4,045,606
3,870,579



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
76,503
304,704

76,503
304,704


Page 11

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
220,000
220,000

Proceeds of factored debts
86,819
20,759

Trade creditors
174,319
166,544

Amounts owed to group undertakings
2,326,573
2,363,879

Amounts owed to other participating interests
229,412
327,929

Corporation tax
266,707
49,872

Other taxation and social security
24,349
85,676

Obligations under finance lease and hire purchase contracts
-
25,508

Other creditors
11,419
15,798

Accruals and deferred income
49,370
381,252

3,388,968
3,657,217


The following bank securities have been provided fo the Company:
Invoice discounting loans amount to £86,819 (2022: £20,759) have been provided by HSBClnvoice Finance (UK) Limited. This facility is secured by fixed and floating charges over all the assets of the Company. Interest is charged on the drawn down funds at a rate of 2.30% (2022: 2.30%). 
The Company has entered into an invoice discounting agreement with HSBC Invoice Finance. (UK) Limited. The amount included within trade debtors in respect of discounted debts before any provision for bad and doubtful debts is £86,819 (2022: £20,759).
The Company has a CBILS Loan of £550,000 (2022: £770,000), which includes amounts falling within and after more than one year, have been provided by HSBC UK Bank plc. This facility is secured by fixed and floating Charges over all the assets of the Company. Interest at a rate of 3.99% (2022: 3.99%) per annum over the Bank of England Base Ratepayable on the outstanding principal amount of the Loan monthly and on the Final Repayment Date. 


11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
330,000
550,000

330,000
550,000


Page 12

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
220,000
220,000


220,000
220,000

Amounts falling due afer one year

Bank loans
330,000
550,000


330,000
550,000



550,000
770,000



13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
-
26,091

-
26,091


14.


Deferred taxation




2023


£






At beginning of year
(18,971)



At end of year
(18,971)

Page 13

 
THE PACKSHOT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
14.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(18,971)
(18,971)

(18,971)
(18,971)


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £13,686 (2022: £13,492).


16.


Related party transactions

During the year the following transactions have taken place with Tej & Co UK Ltd, a Company in which T. Bahra, an officer within the group, has an interest. The Company paid the sum of £49,867 (2022:
£47,721) to Tej.& Co UK Ltd for accountancy services provided to The Packshot Company Limited.
During the year L Friend, a director of the company, incurred costs on behalf of the company totalling
£12,872 (2022: £11,572). The director, withdrew cash of £775,330 (2022: £721,150) which was offset by the dividends declared of £50,000 (2022: £665,000). As at the 31 December 2023, the company was owed £1,117,885 (2022: £405,427) by the director and is included within other debtors. The loan is interest free and repayable on demand.
  
Included in debtors is £1,423,346 (2022: £2,139,850) owed by group undertakings. All the group undertakings are 100% subsidiaries under control of the Company. 
Included in debtors is £513,579 (2022: £540,227) owed by participating interests. Included in creditors is £229,412 (2022: £327,929) owed to participating interests.
Included in creditors is £2,326,573 (2022: £2,363,879) owed to group undertakings. All the group undertakings are 100% subsidiaries under control of the Company.
All intercompany transactions were conducted at arms length.


17.


Controlling party

L Friend, the director, is considered to be the ultimate. controlling party of the Company by virtue of his 100% shareholding in the Company.

 
Page 14