Smart Photography Limited - Filleted accounts

Registered number

05458116

Smart Photography Limited

Filleted Accounts

31 December 2025

Smart Photography Limited
Registered number:			05458116
Balance Sheet
as at 31 December 2025

Notes		31/12/25			31/5/25
£					£
Fixed assets
Tangible assets	3			18,222			21,804

Current assets
Debtors	4		40,737			32,209
Cash at bank and in hand			6,740			13,376
			47,477			45,585

Creditors: amounts falling due within one year	5		(39,150)			(36,635)

Net current assets				8,327			8,950

Total assets less current liabilities				26,549			30,754

Creditors: amounts falling due after more than one year	6			(23,052)			(26,132)

Provisions for liabilities				(3,462)			(4,579)


Net assets				35			43

Capital and reserves
Called up share capital				2			2
Profit and loss account				33			41

Shareholders' funds				35			43

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Anna Smart
Director
Approved by the board on 14 August 2026

Smart Photography Limited
Notes to the Accounts
for the period from 1 June 2025 to 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and buildings			over 10 years
	Plant and machinery			at a rate of 25% reducing balance
	Computer equipment			at a rate of 25% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					31/12/25	31/5/25
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Computer equipment		Total
£			£		£		£
	Cost
	At 1 June 2025	31,450		25,900		25,339		82,689
	Disposals	-		(19,058)		(23,926)		(42,984)
	At 31 December 2025	31,450		6,842		1,413		39,705

	Depreciation
	At 1 June 2025	13,209		22,931		24,745		60,885
	Charge for the period	1,835		260		50		2,145
	On disposals	-		(17,868)		(23,679)		(41,547)
	At 31 December 2025	15,044		5,323		1,116		21,483

	Net book value
	At 31 December 2025	16,406		1,519		297		18,222
	At 31 May 2025	18,241		2,969		594		21,804


4	Debtors					31/12/25	31/5/25
£							£

	Trade debtors					7,113		5,006
	Directors loan account					26,647		19,931
	Prepayments					250		545
	Other debtors					6,727		6,727
						40,737		32,209


5	Creditors: amounts falling due within one year					31/12/25	31/5/25
£							£

	Accruals					960		1,000
	Bank loans					5,549		5,549
	Trade creditors					2,789		1,395
	Taxation and social security costs					28,480		27,319
	Other creditors					1,372		1,372
						39,150		36,635


6	Creditors: amounts falling due after one year					31/12/25	31/5/25
£							£

	Bank loans					23,052		26,132


7	Related party transactions

	There was an overdrawn directors loan account outstanding at the year end of £26,647. This includes interest at HMRC's official rate and S455 tax has been paid where applicable.


8	Other information

	Smart Photography Limited is a private company limited by shares and incorporated in England. Its registered office is:
	52 Bushey Row
	Bampton
	Oxfordshire
	OX18 2JU