Camera Eye Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00919721 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

Camera Eye Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

D R Bailey

Mrs C Bailey

F Bailey

Ms P L Elishi

Secretary:

Mrs C Bailey

Registered office:

24-26 Brownlow Mews

London

WC1N 2LA

Registered number:

00919721 (England and Wales)

Accountants:

Benjamin Taylor Diner Limited

120 New Cavendish Street,

London

W1W 6XX

Fixed assets

Tangible assets

5

4,504,350

4,520,280

Investments

6

-

1

4,504,350

4,520,281

Current assets

Debtors

7

171,747

129,407

Cash at bank

214,951

158,084

386,698

287,491

Creditors

Amounts falling due within one year

8

(225,244

)

(130,514

)

Net current assets

161,454

156,977

Total assets less current liabilities

4,665,804

4,677,258

Provisions for liabilities

(442,017

)

(442,017

)

Net assets

4,223,787

4,235,241

Capital and reserves

Called up share capital

9

100

100

Non distributable fair value

10

2,868,822

2,868,822

Retained earnings

10

1,354,865

1,366,319

Shareholders' funds

4,223,787

4,235,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 14 July 2022 and were signed on its behalf by:

D R Bailey - Director

1.	Statutory information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24-26 Brownlow Mews, London, WC1N 2LA.

The principal activity of the company during the year was that of photography, film making and connected services attached therewith.

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Land and buildings

-

Straight line over 16 years

Plant and machinery etc

-

20% on cost and 15% on cost

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.

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.

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in Associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

4.	Employees and directors

The average number of employees during the year was 7 (2020 - 6 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Long

Plant and

and

property

leasehold

machinery

fittings

Totals

£

£

£

£

£

Cost

At 1 November 2020

and 31 October 2021

3,485,857

1,000,000

443,215

330,410

5,259,482

Depreciation

At 1 November 2020

-

-

426,039

313,163

739,202

Charge for year

-

-

5,033

10,897

15,930

At 31 October 2021

-

-

431,072

324,060

755,132

Net book value

At 31 October 2021

3,485,857

1,000,000

12,143

6,350

4,504,350

At 31 October 2020

3,485,857

1,000,000

17,176

17,247

4,520,280

As at 31st October 2021, the company owned three freehold properties, as follows:

24 - 26, Brownlow Mews, London, WC1N 2LA, which the director has valued at £3,000,000

as at 31st October 2021, on a fair value basis. The historical cost of this property amounts to £241,583.

Unit 8 Darklake Park, Estover, Plymouth, Devon PL7 7TL, which was purchased during the year ended 31st October 2016 at a cost of £261,877. The directors consider there to be no material change in this properties fair value.

Unit 9 Darklake Park, Estover, Plymouth, Devon PL7 7TL, which was purchased during the

year ended 31st October 2016 at a cost of £223,980. The directors consider there to be no material change in this properties fair value.

The company also owns the long leasehold property, B1 Unit C, 6B Brownlow Mews, London, WC1N 2LD, which the director has valued at £1,000,000 as at 31st October 2021. The historic cost of this property amounts to £779,433.

6.	Fixed asset investments

Other

investments

£

Cost

At 1 November 2020

1

Disposals

(1

)

At 31 October 2021

-

Net book value

At 31 October 2021

-

At 31 October 2020

1

From 1 November 2020 to 17 August 2021 the company held 100% of the allotted share capital in David Bailey Productions Limited, a dormant company. The company was dissolved on 17 August 2021.

7.

Debtors: amounts falling due within one year

31.10.21

31.10.20

£

£

Trade debtors

138,303

61,532

Other debtors

33,444

67,875

171,747

129,407

8.

Creditors: amounts falling due within one year

31.10.21

31.10.20

£

£

Trade creditors

64,867

70,077

Taxation and social security

75,204

13,742

Other creditors

85,173

46,695

225,244

130,514

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.21

31.10.20

value:

£

£

100

Ordinary £1 shares

1

100

100

Called-up share capital represents the nominal value of shares that have been issued.

10.

Reserves

Non

distributable

Retained

fair

earnings

value

Totals

£

£

£

At 1 November 2020

1,366,319

2,868,822

4,235,141

Profit for the year

149,826

149,826

Dividends

(161,280

)

(161,280

)

At 31 October 2021

1,354,865

2,868,822

4,223,687

The retained earnings reserve records retained earnings and accumulated losses.

The non distributable fair value reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

11.	Directors' advances, credits and guarantees

D. Bailey

The company had the following transactions with the director D. Bailey during the year:

31.10.21

31.10.20

£

£

Balance brought forward

(35,315

)

(9,968

)

Monies advanced to Camera Eye Limited

(255,996

)

(1,348,871

)

Monies repaid by Camera Eye Limited

276,023

1,323,524

Balance carried forward

(15,288

)

(35,315

)

During the year the company paid dividends totalling £80,640 (2020: £110,640) to D. Bailey.

C. Bailey

The company had the following transactions with the director C. Bailey during the year:

31.10.21

31.10.20

£

£

Balance brought forward

(2,492

)

(3,137

)

Monies advanced to Camera Eye Limited

(172,255

)

(1,116,113

)

Monies repaid by Camera Eye Limited

109,475

1,116,758

Balance carried forward

(65,272

)

(2,492

)

During the year the company paid dividends totalling £80,640 (2020: £110,640) to C. Bailey.

F. Bailey

The company had the following transactions with the director F. Bailey during the year:

31.10.21

31.10.20

£

£

Balance brought forward

2,000

-

Monies advanced to F. Bailey

-

5,000

Monies repaid to Camera Eye Limited

(2,000

)

(3,000

)

Balance carried forward

-

2,000

The above loans are unsecured, interest free and repayable on demand.

Rent

During the year the company was also charged rent totalling £16,000 (2020: £16,000) by D. Bailey.

12.	Related party disclosures

13.	Ultimate controlling party

14.

Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

31.10.21

31.10.20

£

£

Equity dividends on ordinary shares

161,280

221,280