Look Again Photography Limited
Look Again Photography Limited
Registered number: 13225280
Unaudited Financial Statements
For the Period
25 February 2021
to
31 March 2022
Look Again Photography Limited
Unaudited Financial Statements
For the Period
25 February 2021
to
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—5 |
Look Again Photography Limited
Accountant's Report
For the Period
25 February 2021
to
31 March 2022
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of
Look Again Photography Limited
For the Period 25 February 2021 to 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
Look Again Photography Limited
For the Period 25 February 2021 to 31 March 2022 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of
Look Again Photography Limited
, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of
Look Again Photography Limited
and state those matters that we have agreed to state to the director of
Look Again Photography Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Look Again Photography Limited
and its director, as a body, for our work or for this report.
It is your duty to ensure that
Look Again Photography Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Look Again Photography Limited
. You consider that
Look Again Photography Limited
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of
Look Again Photography Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Chartered Accountants
24 The Glove Factory
Holt
Wiltshire
BA14 6RL
Look Again Photography Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
13225280
For the period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
| 31 March 2022 | |||
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| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 471 | ||
Look Again Photography Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 5 form part of these financial statements.
Look Again Photography Limited
Notes to the Financial Statements
For the Period
25 February 2021
to
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
Look Again Photography Limited
Notes to the Financial Statements (continued)
For the Period
25 February 2021
to
31 March 2022
3.
Debtors
| 31 March 2022 | |
|---|---|
| £ | |
| Due within one year | |
| Trade debtors |
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| Other debtors | 38 |
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4.
Creditors: Amounts Falling Due Within One Year
| 31 March 2022 | |
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| £ | |
| Other creditors | 39,220 |
| Taxation and social security | 5,855 |
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5.
General Information
Look Again Photography Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
13225280
. The registered office is 60 Westward Road, Stroud, Gloucestershire, GL5 4JA.