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Registration number: 06331093

Stuart Wood Photography Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Stuart Wood Photography Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Stuart Wood Photography Limited

Company Information

Directors

S Wood

E Wood

Company secretary

E Wood

Registered office

49 Autumn Grove
Chaddesden
Derby
Derbyshire
DE21 6PY

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Stuart Wood Photography Limited

(Registration number: 06331093)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,014

6,687

Tangible assets

5

4,690

5,711

 

9,704

12,398

Current assets

 

Stocks

6

2,400

3,200

Debtors

7

3,436

9,765

Cash at bank and in hand

 

52

11,160

 

5,888

24,125

Creditors: Amounts falling due within one year

8

(42,387)

(47,002)

Net current liabilities

 

(36,499)

(22,877)

Total assets less current liabilities

 

(26,795)

(10,479)

Provisions for liabilities

-

(1,086)

Net liabilities

 

(26,795)

(11,565)

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

(26,895)

(11,665)

Shareholders' deficit

 

(26,795)

(11,565)

For the financial year ending 31 August 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

 

Stuart Wood Photography Limited

(Registration number: 06331093)
Balance Sheet as at 31 August 2024 (continued)

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
S Wood
Director

.........................................
E Wood
Company secretary and director

 
     
 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 06331093.

The address of its registered office is:
49 Autumn Grove
Chaddesden
Derby
Derbyshire
DE21 6PY

These financial statements were authorised for issue by the Board on 14 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Photographic library

5% straight line basis

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

33,455

33,455

At 31 August 2024

33,455

33,455

Amortisation

At 1 September 2023

26,768

26,768

Amortisation charge

1,673

1,673

At 31 August 2024

28,441

28,441

Carrying amount

At 31 August 2024

5,014

5,014

At 31 August 2023

6,687

6,687

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Tangible assets

Other tangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

30,135

30,135

Additions

860

860

Disposals

(1,162)

(1,162)

At 31 August 2024

29,833

29,833

Depreciation

At 1 September 2023

24,425

24,425

Charge for the year

1,568

1,568

Eliminated on disposal

(850)

(850)

At 31 August 2024

25,143

25,143

Carrying amount

At 31 August 2024

4,690

4,690

At 31 August 2023

5,711

5,711

6

Stocks

2024
£

2023
£

Stock

2,400

3,200

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Debtors

Current

2024
£

2023
£

Trade debtors

734

6,935

Prepayments

671

722

Other debtors

2,031

2,108

 

3,436

9,765

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,055

-

Trade creditors

 

1,272

1,103

Taxation and social security

 

712

2,232

Accruals and deferred income

 

-

5,042

Other creditors

 

39,348

38,625

 

42,387

47,002

 

Stuart Wood Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

1,055

-

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100