REGISTERED NUMBER: 03950106 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MARK PALMER PORTRAITURE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M W Palmer

Mrs M E Palmer

SECRETARY:

Mrs M E Palmer

REGISTERED OFFICE:

The Guildhall Market Hill

Framlingham

Woodbridge

IP13 9BD

REGISTERED NUMBER:

03950106 (England and Wales)

ACCOUNTANTS:

Wilson Devenish

67 Newland Street

Witham

Essex

CM8 1AA

FIXED ASSETS

Tangible assets

4

3,248

1,792

CURRENT ASSETS

Stocks

37,870

37,715

Debtors

5

18,522

24,132

Cash at bank

34,234

42,860

90,626

104,707

CREDITORS

Amounts falling due within one year

6

43,226

37,479

NET CURRENT ASSETS

47,400

67,228

TOTAL ASSETS LESS CURRENT LIABILITIES

50,648

69,020

CREDITORS

Amounts falling due after more than one year

7

-

9,261

NET ASSETS

50,648

59,759

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

50,646

59,757

50,648

59,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

Mrs M E Palmer - Director

1.	STATUTORY INFORMATION

Mark Palmer Portraiture Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

118,520

Additions

2,537

At 31 December 2025

121,057

DEPRECIATION

At 1 January 2025

116,728

Charge for year

1,081

At 31 December 2025

117,809

NET BOOK VALUE

At 31 December 2025

3,248

At 31 December 2024

1,792

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,544

18,154

Other debtors

5,978

5,978

18,522

24,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,696

10,648

Trade creditors

12,718

16,717

Taxation and social security

4,806

3,377

Other creditors

16,006

6,737

43,226

37,479

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

9,261

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

22,500

22,500

Between one and five years

120,000

142,500

142,500

165,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £16,039 ( 2024: £6,340). This loan is interest free and repayable on demand.