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Registration number: 7648899

The Click Studios Portraits Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

The Click Studios Portraits Limited

Contents

Company Information

1

Balance Sheet

2

 

The Click Studios Portraits Limited

Company Information

Director

S D Ornstein

Registered office

3rd Floor
Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered AccountantsLawford House
Albert Place
London
N3 1QA

 

The Click Studios Portraits Limited

(Registration number: 7648899)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

7,716

9,091

Current assets

 

Debtors

6

10,815

10,815

Cash at bank and in hand

 

15,240

25,144

 

26,055

35,959

Creditors: Amounts falling due within one year

7

(26,637)

(29,698)

Net current (liabilities)/assets

 

(582)

6,261

Total assets less current liabilities

 

7,134

15,352

Creditors: Amounts falling due after more than one year

7

(23,672)

(26,439)

Net liabilities

 

(16,538)

(11,087)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(16,638)

(11,187)

Shareholders' deficit

 

(16,538)

(11,087)

For the financial year ending 30 November 2024 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 and 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 August 2025
 

.........................................
S D Ornstein
Director

 

The Click Studios Portraits Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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:
3rd Floor
Lawford House
Albert Place
London
N3 1QA

These financial statements were authorised for issue by the director on 4 August 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.

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.

Tax

The tax expense for the period comprises 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.

 

The Click Studios Portraits Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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

Furniture, fittings and equipment

25% on reducing balance

Financial instruments

Classification
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.


 Recognition and measurement
Debt instruments that constitute a financing transaction are initially measured at fair value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit & loss account.

3

Staff numbers

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

 

The Click Studios Portraits Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

4,000

4,000

At 30 November 2024

4,000

4,000

Amortisation

At 1 December 2023

4,000

4,000

At 30 November 2024

4,000

4,000

Carrying amount

At 30 November 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

27,237

27,237

Additions

1,198

1,198

At 30 November 2024

28,435

28,435

Depreciation

At 1 December 2023

18,146

18,146

Charge for the year

2,573

2,573

At 30 November 2024

20,719

20,719

Carrying amount

At 30 November 2024

7,716

7,716

At 30 November 2023

9,091

9,091

 

The Click Studios Portraits Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Debtors

2024
£

2023
£

Other debtors

10,815

10,815

10,815

10,815

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,921

6,269

Trade creditors

 

8,092

10,532

Taxation and social security

 

854

6,589

Accruals and deferred income

 

771

771

Other creditors

 

8,999

5,537

 

26,637

29,698

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

23,672

26,439

 

The Click Studios Portraits Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,726

5,295

Bank overdrafts

2,195

974

7,921

6,269

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,672

26,439

9

Related party transactions

At the balance sheet date, the company owed the director a sum of £5,446 (2023 - £2,355).