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Logo On Report
Registered Number: 10819723


 

 

 

LEO FRANCIS PHOTOGRAPHY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Director Leo Francis
Registered Number 10819723
Registered Office 12 Cave Road
Brough
HU15 1HB
Accountants Kendall Accountancy Services Limited
2 Exeter Street

Cottingham
HU16 4LU
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 June 2024.
Director
The director who served the company throughout the year was as follows:
Leo Francis
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Leo Francis
Director

Date approved: 26 March 2025
2
You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Kendall Accountancy Services Limited
30 June 2024



....................................................

Kendall Accountancy Services Limited

2 Exeter Street

Cottingham
HU16 4LU
26 March 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 72,088    67,580 
Cost of sales (944)   (3,981)
Gross profit 71,144    63,599 
Administrative expenses (68,015)   (34,341)
Operating profit 3,129    29,258 
Interest payable and similar charges (2,852)   431 
Profit/(Loss) on ordinary activities before taxation 277    29,689 
Tax on profit on ordinary activities (538)   (4,162)
Profit/(Loss) for the financial year (261)   25,527 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3   2,200 
Tangible fixed assets 4 34,258    39,117 
34,258    41,317 
Current assets      
Debtors 5 16,266    21,760 
Cash at bank and in hand 876    40 
17,142    21,800 
Creditors: amount falling due within one year 6 (13,331)   (10,688)
Net current assets 3,811    11,112 
 
Total assets less current liabilities 38,069    52,429 
Creditors: amount falling due after more than one year 7 (30,302)   (32,151)
Provisions for liabilities 8 (7,432)   (7,432)
Net assets 335    12,846 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 235    12,746 
Shareholders' funds 335    12,846 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 26 March 2025 and were signed by:


-------------------------------
Leo Francis
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 July 2022 100  219  319 
Profit for the year 25,527  25,527 
Total comprehensive income for the year 25,527  25,527 
Dividends (13,000) (13,000)
Total investments by and distributions to owners (13,000) (13,000)
At 30 June 2023 100  12,746  12,846 
At 01 July 2023 100  12,746  12,846 
Profit for the year (261) (261)
Total comprehensive income for the year (261) (261)
Dividends (12,250) (12,250)
Total investments by and distributions to owners (12,250) (12,250)
At 30 June 2024 100  235  335 
6
General Information
Leo Francis Photography Limited is a private company, limited by shares, registered in , registration number 10819723, registration address 12 Cave Road, Brough, HU15 1HB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible 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. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 11,000    11,000 
Additions  
Disposals  
At 30 June 2024 11,000    11,000 
Amortisation
At 01 July 2023 11,000    11,000 
Charge for year  
On disposals  
At 30 June 2024 11,000    11,000 
Net book values
At 30 June 2024  
At 30 June 2023  


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 July 2023     18,922    18,922 
Additions 38,405    4,583      42,988 
Disposals      
At 30 June 2024 38,405    4,583    18,922    61,910 
Depreciation
At 01 July 2023 11,636    3,245    109    14,990 
Charge for year     12,662    12,662 
On disposals      
At 30 June 2024 11,636    3,245    12,771    27,652 
Net book values
Closing balance as at 30 June 2024 26,769    1,338    6,151    34,258 
Opening balance as at 01 July 2023 30,391    1,723    7,003    39,117 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 15,886    12,760 
Prepayments & Accrued Income 380   
Other Debtors   9,000 
16,266    21,760 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 240   
Bank Loans & Overdrafts 1,563    3,127 
Corporation Tax 2,397    1,566 
PAYE & Social Security   2,446 
Accrued Expenses 207    60 
Other Creditors 1,501   
Obligations under HP/Financial Leases 2,850    3,050 
Directors' Current Accounts 89    439 
VAT 4,484   
13,331    10,688 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 7,426    7,426 
Obligations Under HP/Financial Leases 22,876    24,725 
30,302    32,151 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 7,432    3,540 
Charged to Profit & Loss   3,892 
7,432    7,432 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

7