Photiades Ltd - Accounts to registrar (filleted) - small 18.2
Photiades Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Photiades Ltd |
| Financial Statements For The Year Ended 31 March 2020 |
| Photiades Ltd (Registered number: 07997685) |
| Contents of the Financial Statements |
| For The Year Ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Photiades Ltd |
| Company Information |
| For The Year Ended 31 March 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Photiades Ltd (Registered number: 07997685) |
| Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Photiades Ltd (Registered number: 07997685) |
| Balance Sheet - continued |
| 31 March 2020 |
| 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 |
| Photiades Ltd (Registered number: 07997685) |
| Notes to the Financial Statements |
| For The Year Ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Photiades Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The turnover shown in the profit and loss account represents services provided during the year, exclusive of Value Added Tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
| Goodwill |
| Goodwill relates to the acquisition of a business in 2012 which is being amortised evenly over its estimated useful life of ten years and another acquisition of a business in 2015 which is being amortised evenly over its estimated useful life of five years. |
| 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 |
| Freehold property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| No depreciation has been charged on freehold property. The property is regularly reviewed for impairment. |
| 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. |
| Photiades Ltd (Registered number: 07997685) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| AMORTISATION |
| At 1 April 2019 |
| Amortisation for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Photiades Ltd (Registered number: 07997685) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | - | 24,947 |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 52,263 | 40,924 |
| Directors' current accounts | 23,268 | 3,310 |
| Accrued expenses |
| 8. | SECURED DEBTS |
| A Debenture dated 29 May 2012 was created by the company for securing all monies due or to become due from the company to Barclays Bank PLC on any account whatsoever. |
| 9. | RELATED PARTY DISCLOSURES |
| During the year the company paid dividends of £195,000 (2019 - £150,000) to the directors of the company. |
| At the year end the company owed £5,966 to the director Mr W Harvey (2019 - £15,053 owed from director to company) |
| At the year end the company owed £800 to the director Mr D Shiebert (2019 - £9,894 owed from the director to the company) |
| At the year end the company owed £16,502 to the director Mr J Cox (2019 - £3,310) |