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Registered number: 07287883














STORR PRODUCTIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 
STORR PRODUCTIONS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1
Notes to the Financial Statements
 
 
2 - 8

 
STORR PRODUCTIONS LIMITED
REGISTERED NUMBER:07287883

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
32,000
4,464

Current assets
  

Debtors: amounts falling due within one year
 6 
60,637
4,211

Current asset investments
 7 
1,128,569
1,017,922

Cash at bank and in hand
  
365,090
587,592

  
1,554,296
1,609,725

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(16,971)
(48,453)

Net current assets
  
 
 
1,537,325
 
 
1,561,272

Total assets less current liabilities
  
1,569,325
1,565,736

Provisions for liabilities
  

Deferred tax
 9 
(64,306)
(41,958)

Net assets
  
1,505,019
1,523,778


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
1,504,919
1,523,678

  
1,505,019
1,523,778


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 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 to the small companies regime.

The Company has opted not to file the statement of comprehensive income 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 3 March 2025.

A Glass
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Storr Productions Limited is a private limited liability company registered in England and Wales. Its registered office address is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD. The business address is at The Apple Store, Jarvis Lane, Cranbook, Kent, TN17 2NP. 
The principal activity of the Company continued to be that of portrait photography, specialist photography and film processing.

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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of digital photography services during the year, exclusive of Value Added Tax.
Turnover is recognised in the period in which the service is provided.

 
2.3

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Improvements to property
-
over 10 years
Plant & machinery
-
20% straight line
Motor vehicles
-
20% straight line
Fixtures & fittings
-
20% straight line
Office equipment
-
20% straight line

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.

 
2.4

Valuation of investments

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

 
2.5

Debtors

Short term debtors are measured at the transaction price.

 
2.6

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. 

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.9

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.  

 
2.10

Pensions

Defined contribution pension plan
The Company contributes to 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

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 reporting 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 Statement of Financial Position 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.


3.


Employees

The Directors were the only employees during the current and preceding period.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Improve-  ments to property
Other fixed assets
Total

£
£
£



Cost


At 1 July 2023
84,409
118,985
203,394


Additions
-
30,571
30,571



At 30 June 2024

84,409
149,556
233,965



Depreciation


At 1 July 2023
84,409
114,522
198,931


Charge for the year on owned assets
-
3,034
3,034



At 30 June 2024

84,409
117,556
201,965



Net book value



At 30 June 2024
-
32,000
32,000



At 30 June 2023
-
4,464
4,464


6.


Debtors

2024
2023
£
£


Trade debtors
43,628
3,543

Other debtors
15,136
-

Prepayments and accrued income
1,873
668

60,637
4,211



7.


Current asset investments

2024
2023
£
£

Listed investments
1,128,569
1,017,922


Page 6

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
389
1,554

Taxation and social security
-
27,104

Other creditors
2,910
2,954

Accruals and deferred income
13,672
16,841

16,971
48,453



9.


Deferred taxation




2024


£






At beginning of year
41,958


Charged to profit or loss
22,348



At end of year
64,306

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
2,450
915

Fair value adjustment on current asset investments
61,856
41,043

64,306
41,958


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



11.


Reserves

Profit & loss account

Included in profit and loss reserves are non-distributable fair value adjustments net of deferred taxation amounting to £232,207 (2023 - £123,129).

Page 7

 
STORR PRODUCTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Related party transactions

During the year the Company made various advances to the directors of the Company. The maximum amount outstanding during the year was £70,913. At the balance sheet date the company owed £2,911 (2023 - £2,892) to the directors. Interest has been charged at the official HMRC rate.
Page 8