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DIGITAL PHOTO SOLUTIONS LIMITED

Registered Number
05545073
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

DIGITAL PHOTO SOLUTIONS LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

PATEL, Ileen
PATEL, Maneesh Jayantilal

Company Secretary

PATEL, Maneesh Jayantilal

Registered Address

9 Spencer Road
Bromley
Kent
BR1 3SU

Registered Number

05545073 (England and Wales)
DIGITAL PHOTO SOLUTIONS LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,51215,805
2,51215,805
Current assets
Stocks436,03327,531
Debtors609,637634,531
Cash at bank and on hand212,354171,547
858,024833,609
Creditors amounts falling due within one year6(366,905)(336,948)
Net current assets (liabilities)491,119496,661
Total assets less current liabilities493,631512,466
Net assets493,631512,466
Capital and reserves
Called up share capital104104
Profit and loss account493,527512,362
Shareholders' funds493,631512,466
The financial statements were approved and authorised for issue by the Board of Directors on 11 April 2025, and are signed on its behalf by:
PATEL, Maneesh Jayantilal
Director
Registered Company No. 05545073
DIGITAL PHOTO SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 30 September 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
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:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

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

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 October 2393,820101,491195,311
Additions-2,8672,867
At 30 September 2493,820104,358198,178
Depreciation and impairment
At 01 October 2389,75589,751179,506
Charge for year4,06512,09516,160
At 30 September 2493,820101,846195,666
Net book value
At 30 September 24-2,5122,512
At 30 September 234,06511,74015,805
4.Stocks

2024

2023

££
Other stocks36,03327,531
Total36,03327,531
5.Current asset investments
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables245,154283,258
Bank borrowings and overdrafts98,10229,871
Taxation and social security21,78620,371
Other creditors1,8633,448
Total366,905336,948