1St Studio Photography Ltd
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For the period ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
Scotland
Registered Number: SC493241
Abbreviated Balance Sheet
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1St Studio Photography Ltd
2015
2
1,194
1,194
893
173
1,066
Creditors
:
amounts falling due within one year
|
(2,200)
(1,134)
Net current liabilities
Total assets less current liabilities
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60
60
Net assets/liabilities
60
60
Shareholders funds
For the period ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;
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2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
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Date approved by the board: 29 August 2016
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Mr Martin Deeney Director
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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1St Studio Photography Ltd
For the period ended 31 December 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods and services supplied by the company,net of value added tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
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by the shareholders prior to the balance sheet date
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Stocks and work in progress
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2 of 3
Notes to the Abbreviated Financial Statements
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1St Studio Photography Ltd
For the period ended 31 December 2015
1,493
1,493
299
Charge for period
299
1,194
Allotted called up and fully paid
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2015
1
Class A share of £
1
.
00
each
|
1
1
3 of 3