Company Registration No. 06539299 (England and Wales)
Basement Photographic Limited
Unaudited accounts
for the year ended 31 March 2025
Basement Photographic Limited
Unaudited accounts
Contents
Basement Photographic Limited
Company Information
for the year ended 31 March 2025
Directors
Helen Burkitt
Timothy Burkitt
Company Number
06539299 (England and Wales)
Registered Office
128 City Road
London
EC1V 2NX
England
Accountants
The Straightener Limited
128 City Road
London
EC1V 2NX
Basement Photographic Limited
Statement of financial position
as at 31 March 2025
Tangible assets
24,776
22,585
Cash at bank and in hand
61,792
54,630
Creditors: amounts falling due within one year
(147,442)
(127,986)
Net current assets
7,472
13,232
Total assets less current liabilities
32,248
35,817
Creditors: amounts falling due after more than one year
(938)
(7,055)
Provisions for liabilities
Deferred tax
(4,707)
(4,291)
Called up share capital
1,000
1,000
Profit and loss account
25,603
23,471
Shareholders' funds
26,603
24,471
For the year ending 31 March 2025 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 8 December 2025 and were signed on its behalf by
Timothy Burkitt
Director
Company Registration No. 06539299
Basement Photographic Limited
Notes to the Accounts
for the year ended 31 March 2025
Basement Photographic Limited is a private company, limited by shares, registered in England and Wales, registration number 06539299. The registered office is 128 City Road, London, EC1V 2NX, 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:
Plant & machinery
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
25% per annum reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is provided against purchased goodwill on a straight line basis over ten years.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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.
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.
Basement Photographic Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
48,923
12,792
17,127
78,842
Additions
5,379
-
3,400
8,779
Disposals
(5,519)
-
-
(5,519)
At 31 March 2025
48,783
12,792
20,527
82,102
At 1 April 2024
30,421
12,071
13,765
56,257
Charge for the year
5,196
180
840
6,216
On disposals
(5,147)
-
-
(5,147)
At 31 March 2025
30,470
12,251
14,605
57,326
At 31 March 2025
18,313
541
5,922
24,776
At 31 March 2024
18,502
721
3,362
22,585
Amounts falling due within one year
Trade debtors
48,145
62,698
Accrued income and prepayments
44,977
23,890
Basement Photographic Limited
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
6,389
6,389
Trade creditors
38,215
21,516
Taxes and social security
4,566
7,015
Other creditors
7,770
1,748
Loans from directors
66,741
67,284
8
Creditors: amounts falling due after more than one year
2025
2024
9
Average number of employees
During the year the average number of employees was 5 (2024: 4).