Gem Photographic Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09409493

Gem Photographic Limited

Unaudited financial statements

31 January 2026

Gem Photographic Limited

Statement of financial position

31 January 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		119,845		158,572

Current assets

Debtors	6	37,011	1,709
Cash at bank and in hand		45,582	97,973
		-------	-------
		82,593	99,682

Creditors: Amounts falling due within one year	7	( 41,706)		( 47,434)
		-------		-------
Net current assets			40,887		52,248
			---------		---------
Total assets less current liabilities			160,732		210,820

Creditors: Amounts falling due after more than one year	8		( 56,356)		( 79,677)

Provisions

Taxation including deferred tax	( 29,961)	( 39,643)
	---------	---------
Net assets	74,415	91,500
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	74,315	91,400
	-------	-------
Shareholders funds	74,415	91,500
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gem Photographic Limited

Statement of financial position (continued)

31 January 2026

These financial statements were approved by the board of directors and authorised for issue on 22 October 2026 , and are signed on behalf of the board by:

Mr R Deamer
Director

Company registration number: 09409493

Gem Photographic Limited

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, Norfolk, NR7 0LB, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	10% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 2 (2025: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 February 2025	24,200	38,164	152,080	66,482	280,926
Additions	–	–	–	8,344	8,344
	-------	-------	---------	-------	---------
At 31 January 2026	24,200	38,164	152,080	74,826	289,270
	-------	-------	---------	-------	---------
Depreciation
At 1 February 2025	19,893	17,732	31,151	53,578	122,354
Charge for the year	1,077	3,816	38,020	4,158	47,071
	-------	-------	---------	-------	---------
At 31 January 2026	20,970	21,548	69,171	57,736	169,425
	-------	-------	---------	-------	---------
Carrying amount
At 31 January 2026	3,230	16,616	82,909	17,090	119,845
	-------	-------	---------	-------	---------
At 31 January 2025	4,307	20,432	120,929	12,904	158,572
	-------	-------	---------	-------	---------

6. Debtors

	2026	2025
	£	£
Other debtors	37,011	1,709
	-------	------

7. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Trade creditors	–	5,452
Social security and other taxes	16,161	7,317
Other creditors	25,545	34,665
	-------	-------
	41,706	47,434
	-------	-------

Hire purchase agreements included in other creditors of £23,320 (2025: £23,320) are secured against the assets to which they relate .

8. Creditors: Amounts falling due after more than one year

	2026	2025
	£	£
Other creditors	56,356	79,677
	-------	-------

Hire purchase agreements included in other creditors of £56,356 (2025: £79,677) are secured against the assets to which they relate.

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2026
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
The Director	–	35,697	35,697
	----	-------	-------

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
The Director	–	–	–
	----	----	----

Interest has been charged at the official rate.