Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Helen O'Leary 11/07/2002 Ian Michael O'Leary 11/07/2002 26 March 2025 The principal activity of the company continued to be that of specialist photography. 04483485 2024-07-31 04483485 bus:Director1 2024-07-31 04483485 bus:Director2 2024-07-31 04483485 2023-07-31 04483485 core:CurrentFinancialInstruments 2024-07-31 04483485 core:CurrentFinancialInstruments 2023-07-31 04483485 core:ShareCapital 2024-07-31 04483485 core:ShareCapital 2023-07-31 04483485 core:RetainedEarningsAccumulatedLosses 2024-07-31 04483485 core:RetainedEarningsAccumulatedLosses 2023-07-31 04483485 core:FurnitureFittings 2023-07-31 04483485 core:ComputerEquipment 2023-07-31 04483485 core:FurnitureFittings 2024-07-31 04483485 core:ComputerEquipment 2024-07-31 04483485 bus:OrdinaryShareClass1 2024-07-31 04483485 2023-08-01 2024-07-31 04483485 bus:FilletedAccounts 2023-08-01 2024-07-31 04483485 bus:SmallEntities 2023-08-01 2024-07-31 04483485 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04483485 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04483485 bus:Director1 2023-08-01 2024-07-31 04483485 bus:Director2 2023-08-01 2024-07-31 04483485 core:FurnitureFittings 2023-08-01 2024-07-31 04483485 core:ComputerEquipment 2023-08-01 2024-07-31 04483485 2022-08-01 2023-07-31 04483485 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 04483485 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04483485 (England and Wales)

IAN O'LEARY PHOTOGRAPHY LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

IAN O'LEARY PHOTOGRAPHY LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

IAN O'LEARY PHOTOGRAPHY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
IAN O'LEARY PHOTOGRAPHY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 20,151 21,446
20,151 21,446
Current assets
Debtors 4 1,811 19,780
Cash at bank and in hand 14,532 6,416
16,343 26,196
Creditors: amounts falling due within one year 5 ( 36,391) ( 43,940)
Net current liabilities (20,048) (17,744)
Total assets less current liabilities 103 3,702
Net assets 103 3,702
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 101 3,700
Total shareholders' funds 103 3,702

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ian O'Leary Photography Limited (registered number: 04483485) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Ian Michael O'Leary
Director

26 March 2025

IAN O'LEARY PHOTOGRAPHY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
IAN O'LEARY PHOTOGRAPHY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ian O'Leary Photography Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 33.3 % reducing balance

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 August 2023 183,590 27,579 211,169
Additions 1,507 1,082 2,589
At 31 July 2024 185,097 28,661 213,758
Accumulated depreciation
At 01 August 2023 165,183 24,540 189,723
Charge for the financial year 2,782 1,102 3,884
At 31 July 2024 167,965 25,642 193,607
Net book value
At 31 July 2024 17,132 3,019 20,151
At 31 July 2023 18,407 3,039 21,446

4. Debtors

2024 2023
£ £
Trade debtors 0 19,780
Other debtors 1,811 0
1,811 19,780

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 0 2,577
Other creditors 36,391 41,363
36,391 43,940

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2