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Registration number: 04655176

Beverley Camera Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Beverley Camera Centre Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Beverley Camera Centre Limited

Company Information

Director

P Stebbens

Company secretary

J L Leonard

Registered office

17 Swabys Yard
Walkergate
Beverley
HU17 9BZ

 

Beverley Camera Centre Limited

(Registration number: 04655176)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

526

1,501

 

527

1,502

Current assets

 

Stocks

6

88,967

104,332

Debtors

7

1,505

1,237

Cash at bank and in hand

 

-

150

 

90,472

105,719

Creditors: Amounts falling due within one year

8

(63,257)

(75,005)

Net current assets

 

27,215

30,714

Total assets less current liabilities

 

27,742

32,216

Creditors: Amounts falling due after more than one year

8

(590)

(4,094)

Provisions for liabilities

(100)

(285)

Net assets

 

27,052

27,837

Capital and reserves

 

Called up share capital

100

100

Retained earnings

26,952

27,737

Shareholders' funds

 

27,052

27,837

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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.

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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 June 2025
 

 

Beverley Camera Centre Limited

(Registration number: 04655176)
Balance Sheet as at 31 March 2025

.........................................
P Stebbens
Director

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 04655176.

The address of its registered office is:
17 Swabys Yard
Walkergate
Beverley
HU17 9BZ
England

These financial statements were authorised for issue by the director on 4 June 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 financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of camera repairs and sale of camera equipment 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.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and 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.

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

15% reducing balance

Fixtures and fittings

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 2 (2024 - 2).

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

20,000

20,000

At 31 March 2025

20,000

20,000

Amortisation

At 1 April 2024

19,999

19,999

At 31 March 2025

19,999

19,999

Carrying amount

At 31 March 2025

1

1

At 31 March 2024

1

1

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

1,346

7,725

9,071

Additions

-

58

58

Disposals

(256)

(6,326)

(6,582)

At 31 March 2025

1,090

1,457

2,547

Depreciation

At 1 April 2024

1,262

6,308

7,570

Charge for the year

11

72

83

Eliminated on disposal

(245)

(5,387)

(5,632)

At 31 March 2025

1,028

993

2,021

Carrying amount

At 31 March 2025

62

464

526

At 31 March 2024

84

1,417

1,501

6

Stocks

2025
£

2024
£

Other inventories

88,967

104,332

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

2025
£

2024
£

Trade debtors

1,143

417

Other debtors

-

500

Prepayments

362

320

1,505

1,237

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

48,476

54,816

Trade creditors

 

9,361

15,680

Taxation and social security

 

1,187

2,467

Accruals and deferred income

 

2,087

1,746

Other payables

 

2,146

296

 

63,257

75,005

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

590

4,094

Current loans and borrowings

2025
£

2024
£

Bank borrowings

3,490

3,490

Bank overdrafts

15,694

15,326

Other borrowings

29,292

36,000

48,476

54,816

Bank borrowings are unsecured and relate to a government-backed bounce back loan. Other borrowings relate to unsecured Directors and Shareholder loan account balances.

 

Beverley Camera Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Related party transactions

Other transactions with directors

At the year end, the Company owed the Director £29,292 (2024: (£500)). The amount is unsecured, interest-free and reoayable on demand.