REGISTERED NUMBER: SC386666 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

PHOTOFLASH TRAVEL LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Purdie

REGISTERED OFFICE:

16 - 18 James Street

Carluke

ML8 4DE

REGISTERED NUMBER:

SC386666 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Intangible assets

4

17,427

17,427

Tangible assets

5

739,034

648,618

756,461

666,045

CURRENT ASSETS

Stocks

6

8,200

8,675

Debtors

7

116,585

115,380

Cash at bank and in hand

226,102

214,844

350,887

338,899

CREDITORS

Amounts falling due within one year

8

282,165

218,709

NET CURRENT ASSETS

68,722

120,190

TOTAL ASSETS LESS CURRENT LIABILITIES

825,183

786,235

CREDITORS

Amounts falling due after more than one year

9

(172,917

)

(192,292

)

PROVISIONS FOR LIABILITIES

(162,155

)

(162,155

)

NET ASSETS

490,111

431,788

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

490,109

431,786

SHAREHOLDERS' FUNDS

490,111

431,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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.

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 director and authorised for issue on 8 July 2026 and were signed by:

K Purdie - Director

1.	STATUTORY INFORMATION

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

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

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 41 (2025 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

200,000

17,427

217,427

AMORTISATION

At 1 April 2025

and 31 March 2026

200,000

-

200,000

NET BOOK VALUE

At 31 March 2026

-

17,427

17,427

At 31 March 2025

-

17,427

17,427

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

67,991

67,657

1,564,181

11,497

1,711,326

Additions

-

339

361,496

-

361,835

Disposals

-

-

(98,000

)

-

(98,000

)

At 31 March 2026

67,991

67,996

1,827,677

11,497

1,975,161

DEPRECIATION

At 1 April 2025

39,877

40,885

971,850

10,096

1,062,708

Charge for year

7,029

4,067

231,617

1,348

244,061

Eliminated on disposal

-

-

(70,642

)

-

(70,642

)

At 31 March 2026

46,906

44,952

1,132,825

11,444

1,236,127

NET BOOK VALUE

At 31 March 2026

21,085

23,044

694,852

53

739,034

At 31 March 2025

28,114

26,772

592,331

1,401

648,618

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2025

962,435

Additions

258,000

Disposals

(90,000

)

At 31 March 2026

1,130,435

DEPRECIATION

At 1 April 2025

569,977

Charge for year

157,275

Eliminated on disposal

(68,642

)

At 31 March 2026

658,610

NET BOOK VALUE

At 31 March 2026

471,825

At 31 March 2025

392,458

6.

STOCKS

2026

2025

£

£

Stocks

8,200

8,675

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

22,114

47,735

Directors' current accounts

37,802

15,733

VAT

56,669

51,912

116,585

115,380

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

149,792

128,778

Trade creditors

53,342

27,759

Tax

11,169

5,735

Social security and other taxes

20,999

14,591

Other creditors

34,257

28,924

Accrued expenses

12,606

12,922

282,165

218,709

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Funding Circle Loan

-

14,584

Hire purchase contracts

172,917

177,708

172,917

192,292

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

322,709

306,486

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

£1.00

2

2

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Purdie.