REALISTIC_PHOTO_GRAPHICS_ - Accounts
REALISTIC_PHOTO_GRAPHICS_ - Accounts
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
PAGES FOR FILING WITH REGISTRAR
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BALANCE SHEET
AS AT
31 OCTOBER 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due within one year
5
(191,924 )
(216,086 )
Net current liabilities
(24,010 )
(34,485 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
6
-
(5,810 )
Provisions for liabilities
(6,357 )
(7,334 )
Net assets/(liabilities)
(5,148 )
Capital and reserves
Called up share capital
Profit and loss reserves
8
(7,848 )
Total equity
(5,148 )
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 May 2019 and are signed on its behalf by:
Director
Director
Company Registration No. 00542845
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
- 3 -
1
Accounting policies
Company information
REALISTIC PHOTO GRAPHICS LTD is a private company limited by shares incorporated in England and Wales. The registered office is Suite 43-45 Airport House, Purley Way, Croydon, CR0 0XZ.
The principal activity of the business is that of complete design, production, installation and management of exhibition stands, photography and photographic/digital laboratory.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
1.3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
1.4
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
1.5
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not
reversed.
reversed.
1.6
Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
1
Accounting policies
(Continued)
- 4 -
1.7
Pension
Defined contribution pension plan
The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a plan under which the Company pays fixed contributions into separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the company are held separately from the Company in an independently administered fund.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the company are held separately from the Company in an independently administered fund.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 8 ( 2017 : 9)
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 November 2017
Additions
At 31 October 2018
Depreciation and impairment
At 1 November 2017
Depreciation charged in the year
At 31 October 2018
Carrying amount
At 31 October 2018
At 31 October 2017
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
Corporation tax recoverable
-
Other debtors
Prepayments and accrued income
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
4
Debtors
(Continued)
- 5 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Obligations under finance leases
Trade creditors
Corporation tax
Other taxation and social security
Other creditors
Accruals and deferred income
The directors consider the carrying amounts of current liabilities approximate to their fair values.
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
-
The directors consider the carrying amounts of long term liabilities approximate to their fair values.
7
Defined contribution schemes
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,554 (2017: £5,869).
Contributions totalling £1,126 (2017 - 46) were payable to the fund at the balance sheet date and are Included in creditors.
8
Reserves
Profit and loss reserve
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.
9
Related party transactions
At the balance sheet date included in other debtors is a balance due from the director of £19,537 (2017 - £26,686)