Antique Photo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00937552 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

ANTIQUE PHOTO LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P C Schonberger

D Larder

SECRETARY:

D Larder

REGISTERED OFFICE:

4th Floor, Venture House

27/29 Glasshouse Street

London

W1B 5DF

REGISTERED NUMBER:

00937552 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

Chartered Accountants

4th Floor

Venture House

27-29 Glasshouse Street

London

W1B 5DF

FIXED ASSETS

Investments

3

-

71,107

CURRENT ASSETS

Debtors

4

24,501

21,403

Cash at bank

85,672

87,892

110,173

109,295

CREDITORS

Amounts falling due within one year

5

32,873

32,873

NET CURRENT ASSETS

77,300

76,422

TOTAL ASSETS LESS CURRENT LIABILITIES

77,300

147,529

PROVISIONS FOR LIABILITIES

7

-

4,987

NET ASSETS

77,300

142,542

CAPITAL AND RESERVES

Called up share capital

8

100

100

Other reserves

9

-

8,449

Retained earnings

9

77,200

133,993

SHAREHOLDERS' FUNDS

77,300

142,542

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 applicable to companies subject to the small companies regime.

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 2 December 2019 and were signed on its behalf by:

P C Schonberger - Director

1.	STATUTORY INFORMATION

Antique Photo Limited 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Cash & cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with

an original maturity date of three months or less.

Investments

Listed equity investments which are not subsidiaries, associates or joint ventures are initially measured at

transaction price and subsequently carried at fair value and the changes in fair value are recognised in profit or

loss.

Unlisted equity investments which are not subsidiaries, associates or joint ventures whose fair values cannot be

measured reliably are measured at cost less impairment.

Investment income are recognised on an accruals basis and are credited to the profit and loss account.

Financial instruments

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies, other debtors and bank

balances, which are due within one year are initially recognised at transaction price and subsequently carried at

amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount

and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The

impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised

the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the

carrying amount would have been had the impairment not previously been recognised. The impairment reversal

is recognised in profit or loss.

b) Other financial assets

Listed equity investments which are not subsidiaries, associates or joint ventures are initially measured at

transaction price and subsequently carried at fair value and the changes in fair value are recognised in profit or

loss.

Unlisted equity investments which are not subsidiaries, associates or joint ventures whose fair values cannot be

measured reliably are measured at cost less impairment.

Basic and other financial assets are derecognised when the contractual rights to cash flows expire or are settled,

or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks

and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell

the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments 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 company after deducting all of its liabilities.

Trade creditors and other creditors are initially recognised at transaction price and subsequently carried at

amortised cost, being transaction price less any amounts settled.

Bank loans and group loans are initially recognised at the transaction price, including transaction costs and

subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on

the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other

resources received or receivable, net of direct costs of issuing the equity instruments.

3.	FIXED ASSET INVESTMENTS

Overseas

Listed

Quoted

investments

investments

Totals

£

£

£

COST

At 1 April 2018

39,307

31,800

71,107

Disposals

(39,307

)

(31,800

)

(71,107

)

At 31 March 2019

-

-

-

NET BOOK VALUE

At 31 March 2019

-

-

-

At 31 March 2018

39,307

31,800

71,107

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

24,501

21,403

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

30,536

31,073

Accruals and deferred income

2,337

1,800

32,873

32,873

6.	FINANCIAL INSTRUMENTS

The Company has the following financial instruments:

2019

2018

£

£

Financial assets that are debt instruments measured at amortised cost

Other debtors

24,501

21,403

24,501

21,403

Financial liabilities measured at amortised cost

Other creditors

30,536

31,073

Accruals and deferred income

2,337

1,800

32,873

32,873

7.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

-

4,987

Deferred

tax

£

Balance at 1 April 2018

4,987

Balance at 31 March 2019

4,987

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 April 2018

133,993

8,449

142,442

Profit for the year

4,685

4,685

Dividends

(69,927

)

(69,927

)

Transfer

8,449

(8,449

)

-

At 31 March 2019

77,200

-

77,200