Company Registration No. 06000937 (England and Wales)
Picture-Connect Limited
Unaudited accounts
for the year ended 30 November 2024
Picture-Connect Limited
Unaudited accounts
Contents
Picture-Connect Limited
Company Information
for the year ended 30 November 2024
Company Number
06000937 (England and Wales)
Registered Office
Flat 9
46 Tregunter Road
London
London
SW10 9LE
England
Accountants
Financial and Accounting Solutions
6 Hadleigh Close
Harrow
Middlesex
HA2 8FA
Picture-Connect Limited
Statement of financial position
as at 30 November 2024
Tangible assets
122,707
174,859
Cash at bank and in hand
2,947
34,985
Creditors: amounts falling due within one year
(61,950)
(244,464)
Net current assets/(liabilities)
87,207
(36,916)
Total assets less current liabilities
209,914
137,943
Creditors: amounts falling due after more than one year
(157,800)
(47,776)
Provisions for liabilities
Deferred tax
(2,741)
(6,060)
Other provisions
(79,800)
-
Net (liabilities)/assets
(30,427)
84,107
Called up share capital
100
100
Profit and loss account
(30,527)
84,007
Shareholders' funds
(30,427)
84,107
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 August 2025 and were signed on its behalf by
V Nikolaidis
Director
Company Registration No. 06000937
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2024
Picture-Connect Limited is a private company, limited by shares, registered in England and Wales, registration number 06000937. The registered office is Flat 9, 46 Tregunter Road, London, London, SW10 9LE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
3-5 years ( based on lease period)
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company hired its equipment to Camelot Broadcasting Services Gmbh and Westminster Live Limited over the past few years, Camelot Broadcasting Services Gmbh has gone into liquidation and Westminster Live Limited , has had a significant loss in its income due to the loss of its prime studio location and the general downturn in the information and broadcasting industry resulting in a significant drop in income for the company. Camelot and Westminster Live are the two clients that the company hires its equipment out to.
We have been advised that the company will be funded by the director during this phase and that there may be a tie up with another rental business to hire out the owned equipment ,hence the management has assessed the company's ability to continue as a going concern and has concluded the going concern basis .
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery
At 1 December 2023
1,195,476
At 30 November 2024
1,286,780
At 1 December 2023
1,020,617
Charge for the year
143,456
At 30 November 2024
1,164,073
At 30 November 2024
122,707
At 30 November 2023
174,859
Amounts falling due within one year
Trade debtors
79,800
119,700
Amounts falling due after more than one year
Accrued income and prepayments
-
17,000
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
40,706
112,569
Amounts owed to group undertakings and other participating interests
-
110,000
Taxes and social security
16,144
5,285
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
47,776
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2024
8
Provisions for liabilities
£
Additional provisions made during the period
79,800
At 30 November 2024
79,800
A provision for bad debt has been made following the potential liquidation of Camelot Broadcasting Services Gmbh . It is likely that a certain percentage of outstanding invoices will be paid, but it is unlikely that all of this amount will be received.
Based on the information available, this is an estimated provision.
9
Transactions with related parties
During the year the company traded with Westminster Live Limited (WML) and provided services in the year to the value of£59,500 (YE 30/11/23 - £102,000) and amount owed by Picture Connect Ltd was £157,800(Cr) (YE 30/11/22 -£110,000(cr). The company also traded with Camelot Broadcasting Services Gmbh (CBSG) and transactions in the year were £79,800 (YE 30/11/23 - 119,700) and amount owed by CBSG was £142,109 (YE 30/11/23 - £119,700). These companies are linked to each other by a common director and shareholder.
10
Post balance sheet events
One of the company's clients Camelot Broadcasting Services Gmbh
has gone into liquidation and it is unlikely that the company will receive a sum of £199,500. In the event of the given information, a provision for bad debt for £79,800 has been made in the accounts. This will have a direct effect on the cash flow of the company.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).