1 December 2023 false No description of principal activity Taxfiler 2024.6 true 06000937business:PrivateLimitedCompanyLtd2023-12-012024-11-30 060009372023-11-30 060009372023-12-012024-11-30 06000937business:AuditExemptWithAccountantsReport2023-12-012024-11-30 06000937business:FilletedAccounts2023-12-012024-11-30 060009372024-11-30 06000937business:Director12023-12-012024-11-30 06000937business:RegisteredOffice2023-12-012024-11-30 060009372023-11-30 06000937core:WithinOneYear2024-11-30 06000937core:WithinOneYear2023-11-30 06000937core:AfterOneYear2024-11-30 06000937core:AfterOneYear2023-11-30 06000937core:ShareCapitalcore:PreviouslyStatedAmount2024-11-30 06000937core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 06000937core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-11-30 06000937core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 06000937core:PreviouslyStatedAmount2024-11-30 06000937core:PreviouslyStatedAmount2023-11-30 06000937business:SmallEntities2023-12-012024-11-30 06000937countries:EnglandWales2023-12-012024-11-30 06000937core:PlantMachinery2023-12-012024-11-30 06000937core:OtherPropertyPlantEquipment2023-12-012024-11-30 06000937core:PlantMachinery2023-11-30 06000937core:PlantMachinery2024-11-30 06000937core:OtherProvisionsContingentLiabilities2023-11-30 06000937core:OtherProvisionsContingentLiabilities2023-12-012024-11-30 06000937core:OtherProvisionsContingentLiabilities2024-11-30 0600093712023-12-012024-11-30 060009372022-12-012023-11-30 iso4217:GBP xbrli:pure
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
Page
- 2 -
Picture-Connect Limited Company Information for the year ended 30 November 2024
Director
V Nikolaidis
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
- 3 -
Picture-Connect Limited Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
122,707 
174,859 
Current assets
Debtors
146,210 
172,563 
Cash at bank and in hand
2,947 
34,985 
149,157 
207,548 
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)
- 
(82,541)
(6,060)
Net (liabilities)/assets
(30,427)
84,107 
Capital and reserves
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
- 4 -
Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
20% WDV
Other tangible fixed assets
3-5 years ( based on lease period)
Leased assets
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.
Going concern
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 .
- 5 -
Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2023
1,195,476 
Additions
91,304 
At 30 November 2024
1,286,780 
Depreciation
At 1 December 2023
1,020,617 
Charge for the year
143,456 
At 30 November 2024
1,164,073 
Net book value
At 30 November 2024
122,707 
At 30 November 2023
174,859 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,100 
- 
Trade debtors
79,800 
119,700 
Other debtors
- 
35,863 
83,900 
155,563 
Amounts falling due after more than one year
Trade debtors
62,310 
- 
Accrued income and prepayments
- 
17,000 
62,310 
17,000 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
2,400 
Obligations under finance leases and hire purchase contracts
40,706 
112,569 
Trade creditors
- 
3,110 
Amounts owed to group undertakings and other participating interests
- 
110,000 
Taxes and social security
16,144 
5,285 
Accruals
5,100 
11,100 
61,950 
244,464 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
47,776 
Other creditors
157,800 
- 
157,800 
47,776 
- 6 -
Picture-Connect Limited Notes to the Accounts for the year ended 30 November 2024
8
Provisions for liabilities
£ 
At 1 December 2023
- 
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).
- 7 -