Media Wisdom Photography Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05087416 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Media Wisdom Photography Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Christopher

A Cockroft

REGISTERED OFFICE:

5 Lindsay Road

Hampton Hill

Middlesex

TW12 1DR

REGISTERED NUMBER:

05087416 (England and Wales)

ACCOUNTANTS:

Swan Accountancy Solutions Limited

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Intangible assets

4

4,050

8,100

Tangible assets

5

43,301

48,356

47,351

56,456

CURRENT ASSETS

Debtors

6

15,470

15,069

Cash at bank and in hand

6,204

34,909

21,674

49,978

CREDITORS

Amounts falling due within one year

7

12,428

19,571

NET CURRENT ASSETS

9,246

30,407

TOTAL ASSETS LESS CURRENT LIABILITIES

56,597

86,863

CREDITORS

Amounts falling due after more than one year

8

(45,454

)

(76,578

)

PROVISIONS FOR LIABILITIES

(8,227

)

(9,188

)

NET ASSETS

2,916

1,097

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

2,816

997

SHAREHOLDERS' FUNDS

2,916

1,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1 August 2019 and were signed on its behalf by:

G Christopher - Director

1.	STATUTORY INFORMATION

Media Wisdom Photography Ltd is a private company, limited by shares , registered

in England and Wales. The company's registered number and registered office address

can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable,

excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill is being amortised over five years from 01 April 2015. The Directors

consider this to be the useful working life of the goodwill.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition,

intangible assets are measured at cost less any accumulated amortisation and any

accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the

Income Statement, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws

that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have

originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax

assessments in periods different from those in which they are recognised in

financial statements. Deferred tax is measured using tax rates and laws that have

been enacted or substantively enacted by the year end and that are expected to

apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

20,250

AMORTISATION

At 1 April 2018

12,150

Charge for year

4,050

At 31 March 2019

16,200

NET BOOK VALUE

At 31 March 2019

4,050

At 31 March 2018

8,100

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

66,865

7,045

21,238

95,148

Additions

4,986

-

-

4,986

Disposals

(2,740

)

-

-

(2,740

)

At 31 March 2019

69,111

7,045

21,238

97,394

DEPRECIATION

At 1 April 2018

37,132

5,412

4,248

46,792

Charge for year

4,998

245

3,398

8,641

Eliminated on disposal

(1,340

)

-

-

(1,340

)

At 31 March 2019

40,790

5,657

7,646

54,093

NET BOOK VALUE

At 31 March 2019

28,321

1,388

13,592

43,301

At 31 March 2018

29,733

1,633

16,990

48,356

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

15,312

13,047

Other debtors

158

2,022

15,470

15,069

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

980

2,803

Taxation and social security

11,420

10,076

Other creditors

28

6,692

12,428

19,571

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

45,454

76,578

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

-

9,735

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100

11.	ULTIMATE CONTROLLING PARTY

G Christopher and A Cockroft are the ultimate controlling parties by virtue of

their 100% interest in the ordinary share capital of the company.