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REGISTERED NUMBER: 07270530 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Kirsty Mitchell Photography Ltd

Kirsty Mitchell Photography Ltd (Registered number: 07270530)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 258 292
Tangible fixed assets 5 3,437 4,651
3,695 4,943

Current assets
Stocks 62,586 67,847
Debtors 6 13,062 26,817
Cash at bank 943 5,577
76,591 100,241
Creditors: amounts falling due within
one year

7

26,652

15,097
Net current assets 49,939 85,144
Total assets less current liabilities 53,634 90,087

Creditors: amounts falling due after
more than one year

8

(34,799

)

(38,458

)

Provisions for liabilities - (1,040 )
Net assets 18,835 50,589

Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Balance Sheet - continued
30 June 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 2 2
Retained earnings 18,833 50,587
Shareholders' funds 18,835 50,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





M A Stevensen - Director


Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Kirsty Mitchell Photography Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07270530

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT, trade discounts and other taxes.The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover 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 transaction can be measured reliably.This is usually on dispatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of 10 years.

Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line
Plant and machinery - 25% straight line

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Stock is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 July 2023
and 30 June 2024 340
Amortisation
At 1 July 2023 48
Charge for year 34
At 30 June 2024 82
Net book value
At 30 June 2024 258
At 30 June 2023 292

Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 July 2023 1,736 8,778 38,711 49,225
Additions - - 1,592 1,592
At 30 June 2024 1,736 8,778 40,303 50,817
Depreciation
At 1 July 2023 1,736 6,548 36,290 44,574
Charge for year - 1,343 1,463 2,806
At 30 June 2024 1,736 7,891 37,753 47,380
Net book value
At 30 June 2024 - 887 2,550 3,437
At 30 June 2023 - 2,230 2,421 4,651

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 8,261 20,745
Other debtors 4,801 6,072
13,062 26,817

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 6,572 6,862
Trade creditors 2,768 1,220
Taxation and social security - 537
Other creditors 17,312 6,478
26,652 15,097

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 34,799 38,458

Kirsty Mitchell Photography Ltd (Registered number: 07270530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2