Company registration number 06673122 (England and Wales)
MARK WEEKS PHOTOGRAPHY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MARK WEEKS PHOTOGRAPHY LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
MARK WEEKS PHOTOGRAPHY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
4
2,898
5,070
Current assets
Debtors
5
67,611
90,346
Cash at bank and in hand
170
3,358
67,781
93,704
Creditors: amounts falling due within one year
6
(46,922)
(49,558)
Net current assets
20,859
44,146
Total assets less current liabilities
23,757
49,216
Creditors: amounts falling due after more than one year
7
(19,399)
(21,296)
Net assets
4,358
27,920
Capital and reserves
Called up share capital
8
20
20
Profit and loss reserves
4,338
27,900
Total equity
4,358
27,920
MARK WEEKS PHOTOGRAPHY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

F or the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 23 December 2025 and are signed on its behalf by:
Mr M D Weeks
Mr L Curry
Director
Director
Company registration number 06673122 (England and Wales)
MARK WEEKS PHOTOGRAPHY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
20
8,600
8,620
Year ended 31 December 2023:
Profit for the year
-
84,300
84,300
Dividends
-
(65,000)
(65,000)
Balance at 31 December 2023
20
27,900
27,920
Year ended 31 December 2024:
Profit for the year
-
51,438
51,438
Dividends
-
(75,000)
(75,000)
Balance at 31 December 2024
20
4,338
4,358
MARK WEEKS PHOTOGRAPHY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Mark Weeks Photography Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 33 Nimrod Road, London, SW16 6SZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the services to customers.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MARK WEEKS PHOTOGRAPHY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payabl e.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

MARK WEEKS PHOTOGRAPHY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
2
2
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2024
24,131
Additions
463
At 31 December 2024
24,594
Depreciation and impairment
At 1 January 2024
19,061
Depreciation charged in the year
2,635
At 31 December 2024
21,696
Carrying amount
At 31 December 2024
2,898
At 31 December 2023
5,070
5
Debtors
2024
2023
£
£
Trade debtors
10,765
20,111
Other debtors
56,846
70,235
67,611
90,346
MARK WEEKS PHOTOGRAPHY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
3,549
3,154
Corporation tax
32,364
38,469
Other taxation and social security
5,357
4,911
Other creditors
5,652
3,024
46,922
49,558

The bank loan includes a Bounce Back Loan that is 100% backed by the government. The amount is repayable by monthly instalments within 10 years and has a 2.5% p.a. interest rate.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
19,399
21,296

The bank loan includes a Bounce Back Loan that is 100% backed by the government. The amount is repayable by monthly instalments within 10 years and has a 2.5% p.a. interest rate.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
20
20
20
20
9
Directors' transactions

Included within other debtors is a balance of £33,429 (2023: £49,066) owed by the directors. The loan is interest free and repayable on demand.

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