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Company registration number: 03133579
Photodata Test Services Limited
Unaudited filleted financial statements
30 September 2024
Photodata Test Services Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Photodata Test Services Limited
Directors and other information
Directors Mr G M Swanton
Mr S R Taylor
Mr P M Router
Secretary Mr S R Taylor
Company number 03133579
Registered office First Floor Offices
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
Accountants Hicks and Company
Chartered accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
Bankers Natwest
12 High Street
Hitchin
Hertfordshire
SG5 1YY
Photodata Test Services Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Photodata Test Services Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Photodata Test Services Limited for the year ended 30 September 2024 which comprise the statement of financial position and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Photodata Test Services 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 financial statements of Photodata Test Services Limited and state those matters that we have agreed to state to the board of directors of Photodata Test Services Limited 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 Photodata Test Services Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Photodata Test Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Photodata Test Services Limited. You consider that Photodata Test Services 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 financial statements of Photodata Test Services 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 financial statements.
Hicks and Company
Chartered accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
30 May 2025
Photodata Test Services Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 3,093 9,628
Tangible assets 6 381,683 479,436
_______ _______
384,776 489,064
Current assets
Stocks 193,154 277,286
Debtors 7 621,329 664,476
Cash at bank and in hand 206,643 101,168
_______ _______
1,021,126 1,042,930
Creditors: amounts falling due
within one year 8 ( 634,632) ( 721,576)
_______ _______
Net current assets 386,494 321,354
_______ _______
Total assets less current liabilities 771,270 810,418
Creditors: amounts falling due
after more than one year 9 ( 10,314) ( 44,476)
Provisions for liabilities ( 82,430) ( 104,020)
_______ _______
Net assets 678,526 661,922
_______ _______
Capital and reserves
Called up share capital 122 122
Profit and loss account 678,404 661,800
_______ _______
Shareholders funds 678,526 661,922
_______ _______
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
Mr G M Swanton
Director
Company registration number: 03133579
Photodata Test Services Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
Website and software development - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20% or 10% straight line
Furniture and equipment - 20 % straight line
Computer equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 20 ).
5. Intangible assets
Goodwill Website and software development Total
£ £ £
Cost
At 1 October 2023 and 30 September 2024 75,000 32,682 107,682
_______ _______ _______
Amortisation
At 1 October 2023 75,000 23,054 98,054
Charge for the year - 6,535 6,535
_______ _______ _______
At 30 September 2024 75,000 29,589 104,589
_______ _______ _______
Carrying amount
At 30 September 2024 - 3,093 3,093
_______ _______ _______
At 30 September 2023 - 9,628 9,628
_______ _______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Computer equipment Total
£ £ £ £
Cost
At 1 October 2023 1,392,560 37,073 29,571 1,459,204
Additions 1,000 - 14,396 15,396
_______ _______ _______ _______
At 30 September 2024 1,393,560 37,073 43,967 1,474,600
_______ _______ _______ _______
Depreciation
At 1 October 2023 914,877 36,410 28,481 979,768
Charge for the year 111,721 346 1,082 113,149
_______ _______ _______ _______
At 30 September 2024 1,026,598 36,756 29,563 1,092,917
_______ _______ _______ _______
Carrying amount
At 30 September 2024 366,962 317 14,404 381,683
_______ _______ _______ _______
At 30 September 2023 477,683 663 1,090 479,436
_______ _______ _______ _______
Included within the carrying value of tangible assets is £159,285 (2023: £192,146) relating to assets held under hire purchase agreements.
7. Debtors
2024 2023
£ £
Trade debtors 579,920 644,241
Other debtors 41,409 20,235
_______ _______
621,329 664,476
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan and overdraft 10,312 60,733
Trade creditors 282,496 276,668
Corporation tax 197,198 205,893
Social security and other taxes 94,369 94,665
Other creditors 50,257 83,617
_______ _______
634,632 721,576
_______ _______
The bank overdraft is secured over the assets of the company.
Included in other creditors are obligations under hire purchase agreements of £23,862 (2023: £56,855), which are secured by the company on the assets subject to the agreements.
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loan 7,859 18,159
Other creditors 2,455 26,317
_______ _______
10,314 44,476
_______ _______
Included in other creditors are obligations under hire purchase agreements of £2,455 (2023: £26,317), which are secured by the company on the assets subject to the agreements.
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 52,415 57,414
Later than 1 year and not later than 5 years 125,201 177,617
_______ _______
177,616 235,031
_______ _______
11. Pension commitments
The company's annual commitment under the defined contribution pension scheme is for contributions of £10,960 (2023: £10,102).Included in other creditors is an amount due to the pension scheme of £2,119 (2023: £1,994).
12. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr G M Swanton - 986 986
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr G M Swanton - - -
_______ _______ _______