Registration number: 04572224

Simon Fraser Photography Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Simon Fraser Photography Limited

(Registration number: 04572224)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	6,475	7,364
Current assets
Stocks	6	7,000	7,000
Debtors	7	7,430	1,238
Cash at bank and in hand		1,590	1,951
		16,020	10,189
Creditors: Amounts falling due within one year	8	(59,948)	(47,132)
Net current liabilities		(43,928)	(36,943)
Total assets less current liabilities		(37,453)	(29,579)
Creditors: Amounts falling due after more than one year	8	(516)	(2,974)
Net liabilities		(37,969)	(32,553)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(38,069)	(32,653)
Shareholders' deficit		(37,969)	(32,553)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

......................................... S J R Fraser Director

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
High Woodhead Cottage
Bellingham
Northumberland
NE48 2HX

These financial statements were authorised for issue by the Board on 27 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The entity adopted the accrual model for recognising government grants.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Asset class	Depreciation method and rate
Fixtures and fittings	15% on cost & 5% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	20,000	20,000
At 31 August 2025	20,000	20,000
Amortisation
At 1 September 2024	20,000	20,000
At 31 August 2025	20,000	20,000
Carrying amount
At 31 August 2025	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	62,239	62,239
At 31 August 2025	62,239	62,239
Depreciation
At 1 September 2024	54,875	54,875
Charge for the year	889	889
At 31 August 2025	55,764	55,764
Carrying amount
At 31 August 2025	6,475	6,475
At 31 August 2024	7,364	7,364

6

Stocks

	2025 £	2024 £
Other inventories	7,000	7,000

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	5,062	519
Prepayments	165	53
Other debtors	2,203	666
	7,430	1,238

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	3,049	3,565
Trade creditors		4,442	387
Taxation and social security		116	2,455
Accruals and deferred income		2,658	6,510
Other creditors		49,683	34,215
		59,948	47,132

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	516	2,974

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	516	2,974

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,049	3,565

Other borrowings

Simon Fraser Photography Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Bounce Back Loan is denominated in with a nominal interest rate of 2.5%, and the final instalment is due on 30 September 2026. The carrying amount at year end is £3,565 (2024 - £6,538).

11

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £Nil per each Ordinary		-		-