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Registration number: 04807453

Alex Beaton Photography Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Alex Beaton Photography Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Statement of Comprehensive Income

4

Statement of Financial Position

5

Notes to the Unaudited Financial Statements

6 to 10

Detailed Statement of Comprehensive Income

11

 

Alex Beaton Photography Limited

Company Information

Directors

Mr A Beaton

Mrs CJ Beaton

Registered office

83 High Street
West Wickham
Kent
BR4 0LS

Accountants

Sherwoods
Chartered Certified Accountants83 High Street
West Wickham
Kent
BR4 0LS

 

Alex Beaton Photography Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr A Beaton

Mrs CJ Beaton

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 


Mr A Beaton
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Alex Beaton Photography Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Alex Beaton Photography Limited for the year ended 31 July 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Alex Beaton Photography Limited, 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 Alex Beaton Photography Limited and state those matters that we have agreed to state to the Board of Directors of Alex Beaton Photography Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alex Beaton Photography Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Alex Beaton Photography Limited 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 Alex Beaton Photography Limited. You consider that Alex Beaton Photography Limited 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 Alex Beaton Photography Limited. 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.

......................................

Sherwoods
Chartered Certified Accountants
83 High Street
West Wickham
Kent
BR4 0LS

22 April 2025

 

Alex Beaton Photography Limited

Statement of Comprehensive Income for the Year Ended 31 July 2024

Note

2024
£

2023
£

Turnover

 

51,855

45,802

Cost of sales

 

(7,167)

(4,875)

Gross profit

 

44,688

40,927

Administrative expenses

 

(23,743)

(20,094)

Operating profit

 

20,945

20,833

Interest payable and similar expenses

 

(404)

(316)

Profit before tax

20,541

20,517

Tax on profit

 

(3,902)

(3,897)

Profit for the financial year

 

16,639

16,620

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Alex Beaton Photography Limited

(Registration number: 04807453)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

7,156

2,429

Cash at bank and in hand

 

21,243

30,754

 

28,399

33,183

Creditors: Amounts falling due within one year

6

(27,322)

(32,745)

Net assets

 

1,077

438

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

977

338

Shareholders' funds

 

1,077

438

For the financial year ending 31 July 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 


Mr A Beaton
Director

 

Alex Beaton Photography Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
83 High Street
West Wickham
Kent
BR4 0LS
England

Principal activity

The principal activity of the company is Photographers

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 financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

 

Alex Beaton Photography Limited

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

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and machinery

Straight line over 3 years

Computer equipment

Straight line over 3 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Alex Beaton Photography Limited

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

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Alex Beaton Photography Limited

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

9,797

3,367

13,164

At 31 July 2024

9,797

3,367

13,164

Depreciation

At 1 August 2023

9,797

3,367

13,164

At 31 July 2024

9,797

3,367

13,164

Carrying amount

At 31 July 2024

-

-

-

5

Debtors

2024
£

2023
£

Trade debtors

7,156

2,429

7,156

2,429

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,379

8,352

Taxation and social security

 

5,456

5,566

Accruals and deferred income

 

3,850

2,500

Other creditors

 

10,637

16,327

 

27,322

32,745

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Alex Beaton Photography Limited

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

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,379

8,352

 

Alex Beaton Photography Limited

Detailed Statement of Comprehensive Income for the Year Ended 31 July 2024

2024
£

2023
£

Turnover

Sales

51,855

45,802

51,855

45,802

Cost of sales

Purchases and subcontractors

7,167

4,875

7,167

4,875

Gross profit

44,688

40,927

Gross profit (%)

86.18%

89.36%

Administrative expenses

Directors' salaries

9,100

9,100

Insurance

350

350

Use of residence as office

2,080

2,080

Repairs and renewals

786

124

Telephone

358

208

Computer costs

572

421

Post and stationery

16

69

Sundry expenses

248

214

Motor expenses

1,320

247

Travelling

5,342

5,054

Advertising

51

34

Accountancy

3,475

2,150

Bank charges

45

43

23,743

20,094

Operating profit

20,945

20,833

Interest payable and similar expenses

404

316

Profit before tax

20,541

20,517