Epic Media Wedding Photography Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Epic Media Wedding Photography Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07711628 . The registered office is 16c Blount Street, London, E14 7BZ.

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. Significant judgements and estimations

In the application of the company’s accounting policies, the director is 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.

2.3. 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.

2.4. 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:

Fixtures & Fittings

25% Straight Line

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.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

...CONTINUED

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Epic Media Wedding Photography Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.5. Financial Instruments - continued

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2.6. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.7. 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.

2.8. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.9. 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.

2.10. Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

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Epic Media Wedding Photography Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 August 2024	8,104

As at 31 July 2025	8,104

Depreciation
As at 1 August 2024	8,104

As at 31 July 2025	8,104

Net Book Value
As at 31 July 2025	-

As at 1 August 2024	-

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	(1,899 )	(1,899 )
Other debtors	878	878

	(1,021 )	(1,021 )

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,313	1,313
Bank loans and overdrafts	13,333	12,083
Other creditors	41,085	41,085

	55,731	54,481

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	22,737	30,630

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	5	(1,021 )		(1,021 )
Cash at bank and in hand		14,627		12,291

		13,606		11,270
Creditors: Amounts Falling Due Within One Year	6	(55,731 )		(54,481 )

NET CURRENT ASSETS (LIABILITIES)			(42,125 )		(43,211 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(42,125 )		(43,211 )

Creditors: Amounts Falling Due After More Than One Year	7		(22,737 )		(30,630 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(620 )		(620 )

NET LIABILITIES			(65,482 )		(74,461 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(65,582 )		(74,561 )

SHAREHOLDERS' FUNDS			(65,482)		(74,461)