Picture Shuffle Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC380972 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

PICTURE SHUFFLE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Timothy Harold Daish

Nancy Jane Hillenbrand

SECRETARY:

Nancy Jane Hillenbrand

REGISTERED OFFICE:

24 Beresford Terrace

Ayr

KA7 2EG

REGISTERED NUMBER:

SC380972 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.,

Chartered Accountants

3rd Floor, St George's Buildings

5 St Vincent Place

Glasgow

G1 2DH

BANKERS:

The Royal Bank of Scotland

Kilbirnie Branch

52 Main Street

Kilbirnie

Ayrshire

KA25 7DB

FIXED ASSETS

Tangible assets

4

1,149

1,532

CURRENT ASSETS

Cash at bank

2,938

10,491

CREDITORS

Amounts falling due within one year

5

6,388

13,941

NET CURRENT LIABILITIES

(3,450

)

(3,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,301

)

(1,918

)

PROVISIONS FOR LIABILITIES

6

218

291

NET LIABILITIES

(2,519

)

(2,209

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(2,619

)

(2,309

)

SHAREHOLDERS' FUNDS

(2,519

)

(2,209

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 and authorised for issue on 29 June 2020 and were signed on its behalf by:

Nancy Jane Hillenbrand - Director

1.	STATUTORY INFORMATION

Picture Shuffle Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Fixtures and equipment

-

25% 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.	TANGIBLE FIXED ASSETS

Fixtures

and

equipment

£

COST

At 1 July 2018

and 30 June 2019

6,247

DEPRECIATION

At 1 July 2018

4,715

Charge for year

383

At 30 June 2019

5,098

NET BOOK VALUE

At 30 June 2019

1,149

At 30 June 2018

1,532

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Current corporation tax

-

5,739

Directors' current accounts

2,650

2,651

Accruals and deferred income

3,738

3,737

Value added tax payable

-

1,814

6,388

13,941

6.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

218

291

Deferred

tax

£

Balance at 1 July 2018

291

Released to Profit and loss

(73

)

Balance at 30 June 2019

218

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

51

Ordinary

£1

51

51

49

Ordinary 'A'

£1

49

49

100

100

8.

RESERVES

Retained

earnings

£

At 1 July 2018

(2,309

)

Deficit for the year

(310

)

At 30 June 2019

(2,619

)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.

Mr Timothy Harold Daish and Mrs Nancy Jane Hillenbrand exercise immediate and ultimate control through their

respective holdings of 51% and 49% of the issued ordinary share capital.