Company Registration No. 1765193 (England and Wales)
Photo Art Centre Limited
Unaudited accounts
for the year ended 31 December 2024
Photo Art Centre Limited
Unaudited accounts
Contents
Photo Art Centre Limited
Company Information
for the year ended 31 December 2024
Directors
B P Patel
D P Patel
S P Patel
Company Number
1765193 (England and Wales)
Registered Office
8/10 Leys Avenue
Letchworth Garden City
SG6 3EU
Photo Art Centre Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
917
49,812
Creditors: amounts falling due within one year
(126,159)
(171,361)
Net current liabilities
(111,555)
(109,674)
Net liabilities
(110,605)
(108,724)
Called up share capital
15,000
15,000
Profit and loss account
(125,605)
(123,724)
Shareholders' funds
(110,605)
(108,724)
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 directors acknowledge their 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 of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
S P Patel
Director
Company Registration No. 1765193
Photo Art Centre Limited
Notes to the Accounts
for the year ended 31 December 2024
Photo Art Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 1765193. The registered office is 8/10 Leys Avenue, Letchworth Garden City, SG6 3EU.
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:
Plant & machinery
25% reducing balance
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.
4
Tangible fixed assets
Plant & machinery
At 31 December 2024
39,416
At 31 December 2024
38,466
Photo Art Centre Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
15,510
16,981
Trade creditors
2,374
2,884
Taxes and social security
22,865
26,800
Other creditors
2,116
1,543
Loans from directors
81,554
89,295
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).