REGISTERED NUMBER: 02422903 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

PHOTO SALES (U.K.) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs E Laney

R Laney

SECRETARY:

J H R Waite

REGISTERED OFFICE:

Grange House

Grange Road

Midhurst

West Sussex

GU29 9LS

REGISTERED NUMBER:

02422903 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Grange House

Grange Road

Midhurst

West Sussex

GU29 9LS

FIXED ASSETS

Tangible assets

4

4,510

5,638

Investment property

5

2,476,000

2,448,071

2,480,510

2,453,709

CURRENT ASSETS

Debtors

6

280

12,198

Cash at bank

9,399

1,769

9,679

13,967

CREDITORS

Amounts falling due within one year

7

37,467

116,113

NET CURRENT LIABILITIES

(27,788

)

(102,146

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,452,722

2,351,563

PROVISIONS FOR LIABILITIES

8

284,476

277,775

NET ASSETS

2,168,246

2,073,788

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Other reserves

1,215,851

1,222,833

Retained earnings

942,395

840,955

SHAREHOLDERS' FUNDS

2,168,246

2,073,788

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 27 July 2026 and were signed on its behalf by:

R Laney - Director

1.	STATUTORY INFORMATION

Photo Sales (U.K.) 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 presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment property, which is held to earn rentals and/or capital appreciation, is initially recognised at cost. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 1a. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Other income

Other income, in the main, represents rent receivable from the letting of the company's investment properties. Income is recognised in accordance with the terms of the lease.

Other reserves

Gains or losses on fair value of investment property have been transferred from retained earnings to a specific non-distributable reserve; other reserves. Similarly all deferred tax relating to these fair value movements has been transferred to the same reserve.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2024

and 31 October 2025

18,161

DEPRECIATION

At 1 November 2024

12,523

Charge for year

1,128

At 31 October 2025

13,651

NET BOOK VALUE

At 31 October 2025

4,510

At 31 October 2024

5,638

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

2,448,071

Revaluations

27,929

At 31 October 2025

2,476,000

NET BOOK VALUE

At 31 October 2025

2,476,000

At 31 October 2024

2,448,071

The investment properties were revalued by the director in the year. The revaluation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If the investment properties had not been revalued it would have been included at its historical cost of £976,802.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

280

12,198

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

23,944

Trade creditors

-

4,794

Taxation and social security

28,334

46,805

Other creditors

9,133

40,570

37,467

116,113

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

284,476

277,775

Deferred tax

£

Balance at 1 November 2024

277,775

Accelerated capital allowances

(282

)

Provision for tax on sale of

properties

6,983

Balance at 31 October 2025

284,476