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PICTOFF LIMITED

Registered Number
09143404
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

PICTOFF LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

KIGHTLEY, Oliver John

Company Secretary

KIGHTLEY, Heather Claire

Registered Address

12 Fore Street
Chudleigh
Newton Abbot
TQ13 0HX

Registered Number

09143404 (England and Wales)
PICTOFF LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets3144,928151,448
144,928151,448
Current assets
Debtors27,068235
Cash at bank and in hand408,176460,712
435,244460,947
435,244460,947
580,172612,395
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital6060
Profit and loss account571,274602,453
571,334602,513
Liabilities
Creditors amounts falling due within one year23035
Provisions for liabilities(8,608)(9,847)
580,172612,395
The financial statements were approved and authorised for issue by the Director on 25 March 2025, and are signed on its behalf by:
KIGHTLEY, Oliver John
Director
Registered Company No. 09143404
PICTOFF LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 23161,190
At 31 July 24161,190
Depreciation and impairment
At 01 August 239,742
Charge for year6,520
At 31 July 2416,262
Net book value
At 31 July 24144,928
At 31 July 23151,448