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Registered number: 7992507
Ealing Photography Limited
Financial Statements
For The Year Ended 31 March 2025
Kaspo & Co Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 7992507
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 20,225 19,310
20,225 19,310
CURRENT ASSETS
Stocks 6 3,500 3,500
Debtors 7 49,791 1,476
Cash at bank and in hand 58,886 162,474
112,177 167,450
Creditors: Amounts Falling Due Within One Year 8 (54,512 ) (66,029 )
NET CURRENT ASSETS (LIABILITIES) 57,665 101,421
TOTAL ASSETS LESS CURRENT LIABILITIES 77,890 120,731
NET ASSETS 77,890 120,731
CAPITAL AND RESERVES
Called up share capital 9 80 80
Profit and Loss Account 77,810 120,651
SHAREHOLDERS' FUNDS 77,890 120,731
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Carmel Dever
Director
09/12/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ealing Photography Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7992507 . The registered office is 9A The Boardway, Ealing, London, W5 2NH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
Fixtures & Fittings 20% Reducing Balance Basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 3
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 1 2
Sales, marketing and distribution 5 4
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 250,000
As at 31 March 2025 250,000
Amortisation
As at 1 April 2024 250,000
As at 31 March 2025 250,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2024 33,883 24,700 17,527 76,110
Additions 6,750 - - 6,750
As at 31 March 2025 40,633 24,700 17,527 82,860
Depreciation
As at 1 April 2024 24,755 16,885 15,160 56,800
Provided during the period 3,407 1,954 474 5,835
As at 31 March 2025 28,162 18,839 15,634 62,635
...CONTINUED
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Page 4
Net Book Value
As at 31 March 2025 12,471 5,861 1,893 20,225
As at 1 April 2024 9,128 7,815 2,367 19,310
6. Stocks
2025 2024
£ £
Stock 3,500 3,500
7. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 1,081 1,476
Director's loan account 48,710 -
49,791 1,476
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 15,794 22,303
Corporation tax 16,258 19,796
Other taxes and social security 16,459 17,643
Other creditors 2,629 908
Accruals and deferred income 3,372 4,741
Director's loan account - 638
54,512 66,029
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 80 80
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Carmel Dever 48,710 - - - -
The above loan is unsecured, subject to commercial rates of interest and repayable on demand.
11. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 103,000 60,000
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