Company Registration No. 03988192 (England and Wales)
Michael Molloy Photography Limited
Unaudited accounts
for the year ended 31 March 2021
Michael Molloy Photography Limited
Unaudited accounts
Contents
Michael Molloy Photography Limited
Company Information
for the year ended 31 March 2021
Company Number
03988192 (England and Wales)
Registered Office
4 THE SHRUBBERY, GROSVENOR ROAD
WANSTEAD
LONDON
E11 2EL
Accountants
Total Accounting Solutions Limited
68 Habgood Road
Loughton
Essex
IG10 1HE
Michael Molloy Photography Limited
Statement of financial position
as at 31 March 2021
Tangible assets
2,726
4,618
Cash at bank and in hand
6,544
23,134
Creditors: amounts falling due within one year
(8,288)
(9,027)
Net current assets
5,159
23,508
Total assets less current liabilities
7,885
28,126
Creditors: amounts falling due after more than one year
(15,088)
-
Provisions for liabilities
Net (liabilities)/assets
(7,721)
27,249
Called up share capital
1
1
Profit and loss account
(7,722)
27,248
Shareholders' funds
(7,721)
27,249
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 April 2021 and were signed on its behalf by
Michael Molloy
Director
Company Registration No. 03988192
Michael Molloy Photography Limited
Notes to the Accounts
for the year ended 31 March 2021
Michael Molloy Photography Limited is a private company, limited by shares, registered in England and Wales, registration number 03988192. The registered office is 4 THE SHRUBBERY, GROSVENOR ROAD, WANSTEAD, LONDON, E11 2EL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to expenditure are credited to other operating income when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Basic financial instruments are recognised at amortised cost.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Michael Molloy Photography Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Plant & machinery
Accrued income and prepayments
616
653
Total debtors less than one year
6,903
9,401
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
2,662
-
Taxes and social security
3,135
6,874
Loans from directors
1,703
133
7
Creditors: amounts falling due after more than one year
2021
2020
Aggregate of amounts that fall due for payment after five years
888
-
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).
