PICTURE VILLE LIMITED
04522969
BALANCE SHEET
AS AT 31 AUGUST 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject 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 by:
The notes on pages 3 to 5 form part of these financial statements.
Page 1
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PICTURE VILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1.Accounting policies
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Basis of preparation of financial statements
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Picture Ville Limited (the company) is a limited liability company incorporated and domiciled in the United Kingdom. The address of the registered office is Sky View, Argosy Road, East Midlands Airport, Castle Donington, Derby DE74 2SA.
The financial statements are prepared in Sterling (£), which is the functional currency of the company and are for a 52 week period ended 31 August 2024 (2022: 52 weeks ending 31 August 2023).
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Turnover represents net invoiced rental income, excluding VAT. All of the company's turnover is derived in the UK from its principle activity.
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 provided on the following basis:
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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The Company has no employees, only directors, who did not receive any remuneration (2023: £NIL).
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Page 3
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PICTURE VILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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Creditors: Amounts falling due within one year
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due after more than 5 years
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Loans - Repayable other than by instalments
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These loans are unsecured and are not due for repayment within five years.
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Page 4
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PICTURE VILLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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Allotted, called up and fully paid
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21 (2023: 21) 'A' Ordinary shares shares of £1.00 each
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21 (2023: 21) 'B' Ordinary shares shares of £1.00 each
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21 (2023: 21) 'C' Ordinary shares shares of £1.00 each
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12 (2023: 12) 'D' Ordinary shares shares of £1.00 each
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21 (2023: 21) 'E' Ordinary shares shares of £1.00 each
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Related party transactions
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The shareholders (some of whom are directors) have granted long term loans to the company totallng £95,904 (2023: £95,904). No interest has been charged this year or was charged last year on these loans and they are unsecured.
The company is controlled by its shareholders, no individual shareholder has a controlling interest.
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Page 5
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