COMPANY REGISTRATION NUMBER:
07258576
PRESTIGE WEDDING PHOTOGRAPHERS LIMITED |
|
Filleted Unaudited Abridged Financial Statements |
|
PRESTIGE WEDDING PHOTOGRAPHERS LIMITED |
|
Abridged Statement of Financial Position |
|
31 May 2022
Fixed assets
Tangible assets |
4 |
|
232 |
309 |
|
|
|
|
|
Current assets
Cash at bank and in hand |
807 |
|
2,647 |
|
|
|
|
Creditors: amounts falling due within one year |
4,831 |
|
12,949 |
|
------- |
|
--------- |
Net current liabilities |
|
4,024 |
10,302 |
|
|
------- |
--------- |
Total assets less current liabilities |
|
(
3,792) |
(
9,993) |
|
|
------- |
------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
(
3,892) |
(
10,093) |
|
|
------- |
--------- |
Shareholder deficit |
|
(
3,792) |
(
9,993) |
|
|
------- |
--------- |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.
PRESTIGE WEDDING PHOTOGRAPHERS LIMITED |
|
Abridged Statement of Financial Position (continued) |
|
31 May 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 July 2023
, and are signed on behalf of the board by:
Company registration number:
07258576
PRESTIGE WEDDING PHOTOGRAPHERS LIMITED |
|
Notes to the Abridged Financial Statements |
|
Year ended 31 May 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Roundwood, Chislehurst, Kent, BR75RQ.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover during the year represents invoices raised less trade discounts.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
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:
|
Fixtures and fittings |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Tangible assets
|
£ |
Cost |
|
At 1 June 2021 and 31 May 2022 |
6,066 |
|
------- |
Depreciation |
|
At 1 June 2021 |
5,757 |
Charge for the year |
77 |
|
------- |
At 31 May 2022 |
5,834 |
|
------- |
Carrying amount |
|
At 31 May 2022 |
232 |
|
------- |
At 31 May 2021 |
309 |
|
------- |
|
|
5.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mrs L Salter |
(
10,166) |
9,889 |
(
277) |
|
|
--------- |
------- |
---- |
|
|
|
|
|
|
2021 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mrs L Salter |
(
9,570) |
(
596) |
(
10,166) |
|
|
------- |
---- |
--------- |
|
|
|
|
|
6.
Related party transactions
The company was under the control of
Mrs L Salter
throughout the current year. Mrs L Salter
is the managing director and shareholder. Included in Creditors: amounts falling due within one year is an amount due to director amounting to £ 277
(202:£10,166). This loan is interest free for which no repayment terms have been agreed.