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REGISTERED NUMBER: SC216121 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

Philip Stewart Photographics Ltd.

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Philip Stewart Photographics Ltd. |

Company Information

for the Year Ended 30 April 2025

| DIRECTOR: | Mr P M Stewart

| REGISTERED OFFICE: | The Studio

| Blackhills

| Lonmay

| Fraserburgh

| AB43 8XE

| REGISTERED NUMBER: | SC216121 (Scotland)

| ACCOUNTANTS: | SBP

| Accountants

| 27 Finlayson Street

| Fraserburgh

| Aberdeenshire

| AB43 9JQ

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Balance Sheet

30 April 2025

| 30.4.25 | 30.4.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 4,496 |  | 6,438 |  |

4,496 |  | 6,438 |  |

CURRENT ASSETS

Stocks | 2,000 |  | 2,000 |  |

Debtors | 6 | 3,900 |  | 2,385 |  |

Cash at bank and in hand | 20,075 |  | 31,005 |  |

25,975 |  | 35,390 |  |

CREDITORS

Amounts falling due within one year | 7 | 6,167 |  | 3,243 |  |

NET CURRENT ASSETS | 19,808 |  | 32,147 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 24,304 |  | 38,585 |  |

PROVISIONS FOR LIABILITIES | - |  | 644 |  |

NET ASSETS | 24,304 |  | 37,941 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Retained earnings | 23,304 |  | 36,941 |  |

SHAREHOLDERS' FUNDS | 24,304 |  | 37,941 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Balance Sheet - continued

30 April 2025

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2026 and were signed by:

Mr P M Stewart - Director

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| Philip Stewart Photographics Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

| Intangible assets

| Intangible assets comprise a cherished registration plate which was recategorised from motor vehicle assets. Such assets are amortised over a 10 year period on a straight line basis. As at 30 April 2022, the asset held has been fully written off.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 20% on reducing balance

| Cameras and equipment | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 6,208 |  |

| AMORTISATION

| At 1 May 2024

| and 30 April 2025 | 6,208 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  |

| At 30 April 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Cameras |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | equipment |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 May 2024 | 34,522 |  | 48,763 |  | 8,148 |  | 5,061 |  | 96,494 |  |

| Additions | 394 |  | - |  | - |  | - |  | 394 |  |

| Disposals | (10,613 | ) | (4,411 | ) | - |  | - |  | (15,024 | ) |

| At 30 April 2025 | 24,303 |  | 44,352 |  | 8,148 |  | 5,061 |  | 81,864 |  |

| DEPRECIATION

| At 1 May 2024 | 32,573 |  | 45,933 |  | 7,602 |  | 3,948 |  | 90,056 |  |

| Charge for year | 410 |  | 566 |  | 136 |  | 930 |  | 2,042 |  |

| Eliminated on disposal | (10,319 | ) | (4,411 | ) | - |  | - |  | (14,730 | ) |

| At 30 April 2025 | 22,664 |  | 42,088 |  | 7,738 |  | 4,878 |  | 77,368 |  |

| NET BOOK VALUE

| At 30 April 2025 | 1,639 |  | 2,264 |  | 410 |  | 183 |  | 4,496 |  |

| At 30 April 2024 | 1,949 |  | 2,830 |  | 546 |  | 1,113 |  | 6,438 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade debtors | 2,068 |  | 580 |  |

| VAT | 26 |  | 72 |  |

| Accrued income | 898 |  | 1,013 |  |

| Prepayments | 908 |  | 720 |  |

3,900 |  | 2,385 |  |

| Philip Stewart Photographics Ltd. (Registered number: SC216121) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade creditors | 3,813 |  | 520 |  |

| Social security and other taxes | 723 |  | 671 |  |

| Other creditors | 32 |  | 452 |  |

| Accrued expenses | 1,599 |  | 1,600 |  |

6,167 |  | 3,243 |  |

8. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Mr P M Stewart.