Picture Business (Bournemouth) Ltd 05131820 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is picture framing and art sales. Digita Accounts Production Advanced 6.30.9574.0 true 05131820 2023-04-01 2024-03-31 05131820 2024-03-31 05131820 bus:Director2 1 2024-03-31 05131820 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05131820 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05131820 bus:Micro-entities 2023-04-01 2024-03-31 05131820 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05131820 bus:FullAccounts 2023-04-01 2024-03-31 05131820 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05131820 bus:RegisteredOffice 2023-04-01 2024-03-31 05131820 bus:Director2 2023-04-01 2024-03-31 05131820 bus:Director2 1 2023-04-01 2024-03-31 05131820 bus:Director3 2023-04-01 2024-03-31 05131820 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05131820 bus:Agent1 2023-04-01 2024-03-31 05131820 countries:EnglandWales 2023-04-01 2024-03-31 05131820 bus:Director2 1 2023-03-31 05131820 2022-04-01 2023-03-31 05131820 2023-03-31 05131820 bus:Director2 1 2023-03-31 05131820 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05131820 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05131820 bus:Director2 1 2022-04-01 2023-03-31 05131820 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05131820

Picture Business (Bournemouth) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Picture Business (Bournemouth) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

3

 

Picture Business (Bournemouth) Ltd

Company Information

Directors

C J Smith

Mrs A R Webb

Registered office

77a Cheap Street
Sherborne
Dorset
DT9 3BA

Accountants

Lanham & Francis
Chartered Accountants
77a Cheap Street
Sherborne
Dorset
DT9 3BA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Picture Business (Bournemouth) Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Picture Business (Bournemouth) Ltd for the year ended 31 March 2024 as set out on pages 3 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Picture Business (Bournemouth) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Picture Business (Bournemouth) Ltd and state those matters that we have agreed to state to the Board of Directors of Picture Business (Bournemouth) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Picture Business (Bournemouth) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Picture Business (Bournemouth) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Picture Business (Bournemouth) Ltd. You consider that Picture Business (Bournemouth) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Picture Business (Bournemouth) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.





Lanham & Francis
Chartered Accountants
77a Cheap Street
Sherborne
Dorset
DT9 3BA

31 March 2025

 

Picture Business (Bournemouth) Ltd

(Registration number: 05131820)
Balance Sheet as at 31 March 2024

2024
£

2023
£

Fixed assets

45,926

35,506

Current assets

640,449

559,280

Prepayments and accrued income

15,607

13,299

Creditors: Amounts falling due within one year

(509,494)

(467,476)

Net current assets

146,562

105,103

Total assets less current liabilities

192,488

140,609

Creditors: Amounts falling due after more than one year

(127,913)

(171,482)

Provisions for liabilities

-

(6,168)

Accruals and deferred income

(14,410)

(14,289)

 

50,165

(51,330)

Capital and reserves

50,165

(51,330)

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
77a Cheap Street
Sherborne
Dorset
DT9 3BA

These financial statements were authorised for issue by the Board on 31 March 2025.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

3

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £412,924 (2023 - £558,203).

 

Picture Business (Bournemouth) Ltd

(Registration number: 05131820)
Balance Sheet as at 31 March 2024 (continued)

4

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

C J Smith

Interest fee loan

192,203

52,655

244,858

       
     

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

C J Smith

Interest fee loan

204,520

18,683

(31,000)

192,203

         
       

 

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

C J Smith
Director