Company No:
Contents
DIRECTORS | Bryan Buck |
Barry Henry Dodge | |
Jason Allen Maros (Appointed 01 January 2024) | |
John Hugh Temby (Appointed 01 January 2024) | |
Beric Richard John Tempest | |
Robert Tempest | |
Terence Tempest |
SECRETARY | Bryan Buck |
REGISTERED OFFICE | The Colour Laboratory |
Lelant | |
St. Ives | |
TR26 3HU | |
United Kingdom |
COMPANY NUMBER | 05129810 (England and Wales) |
ACCOUNTANT | Old Mill Accountancy Limited |
Leeward House | |
Fitzroy Road | |
Exeter Business Park | |
Exeter | |
Devon | |
EX1 3LJ |
Note | 2024 | 2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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1 | 1 | |||
Net current assets | 1 | 1 | ||
Total assets less current liabilities | 1 | 1 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tempest Photography Limited (registered number:
Bryan Buck
Director |
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.
Tempest 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 The Colour Laboratory, Lelant, St. Ives, TR26 3HU, 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 £.
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed by Parent undertakings |
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Parent Company:
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The Colour Laboratory, Lelant, St. Ives, Cornwall, TR26 3HU |