Company Registration No. 07801262 (England and Wales)
Picture Frame Tv Ltd
Unaudited accounts
for the year ended 31 December 2024
Picture Frame Tv Ltd
Unaudited accounts
Contents
Picture Frame Tv Ltd
Company Information
for the year ended 31 December 2024
Company Number
07801262 (England and Wales)
Registered Office
Unit U2, Rose Industrial Estate
Marlow Bottom
Marlow
SL7 3ND
England
Picture Frame Tv Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
7,314
6,591
Cash at bank and in hand
97,825
70,126
Creditors: amounts falling due within one year
(58,432)
(58,052)
Net current assets
60,127
58,614
Total assets less current liabilities
115,031
112,795
Creditors: amounts falling due after more than one year
(3,668)
(23,387)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
109,435
89,308
Shareholders' funds
109,535
89,408
For the year ending 31 December 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 10 April 2025 and were signed on its behalf by
Ketan Hirani
Director
Company Registration No. 07801262
Picture Frame Tv Ltd
Notes to the Accounts
for the year ended 31 December 2024
Picture Frame Tv Ltd is a private company, limited by shares, registered in England and Wales, registration number 07801262. The registered office is Unit U2, Rose Industrial Estate, Marlow Bottom, Marlow, SL7 3ND, England.
2
Compliance with accounting standards
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the 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 are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery
20% on written down basis
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Picture Frame Tv Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
At 31 December 2024
19,239
At 31 December 2024
11,925
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
47,590
Valuation at 31 December 2024
47,590
Amounts falling due within one year
Trade debtors
17,793
14,617
Amounts due from group undertakings etc.
-
25,000
Accrued income and prepayments
2,941
6,923
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,860
-
Taxes and social security
21,019
22,053
Loans from directors
7,093
5,158
8
Creditors: amounts falling due after more than one year
2024
2023
Picture Frame Tv Ltd
Notes to the Accounts
for the year ended 31 December 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan
-
15,912
15,912
-
Interest has been charged on overdrawn directors loans at HMRC approved rates.
10
Transactions with related parties
2024 Nil, 2023 Debtors include £25,000 due from AB Audio Visual Ltd, a company in which the company has controlling interests and common directors.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).