ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

CAMERAPIX MAGAZINES (UK) LIMITED - Company Information

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Caseware UK (AP4) 2021.0.152 2021.0.152 2021-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activityfalse33true 01614904 2021-06-30 01614904 2021-07-01 2022-06-30 01614904 2020-07-01 2021-06-30 01614904 2022-06-30 01614904 c:CompanySecretary1 2021-07-01 2022-06-30 01614904 c:Director1 2021-07-01 2022-06-30 01614904 c:Director2 2021-07-01 2022-06-30 01614904 c:Director3 2021-07-01 2022-06-30 01614904 c:RegisteredOffice 2021-07-01 2022-06-30 01614904 d:PlantMachinery 2021-07-01 2022-06-30 01614904 d:PlantMachinery 2022-06-30 01614904 d:PlantMachinery 2021-06-30 01614904 d:CurrentFinancialInstruments 2022-06-30 01614904 d:CurrentFinancialInstruments 2021-06-30 01614904 e:RestWorldOutsideUK 2021-07-01 2022-06-30 01614904 e:RestWorldOutsideUK 2020-07-01 2021-06-30 01614904 c:OrdinaryShareClass1 2021-07-01 2022-06-30 01614904 c:OrdinaryShareClass1 2022-06-30 01614904 c:OrdinaryShareClass1 2021-06-30 01614904 c:FRS102 2021-07-01 2022-06-30 01614904 c:AuditExemptWithAccountantsReport 2021-07-01 2022-06-30 01614904 c:AbridgedAccounts 2021-07-01 2022-06-30 01614904 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01614904










Camerapix Magazines (UK) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2022
 
Camerapix Magazines (UK) Limited
 

Company Information


Directors
Mrs R Haq 
Mr S Haq 
Mr A Haq 




Company secretary
Miss A N Chaudhry



Registered number
01614904



Registered office
2nd Floor
168 Shoreditch High Street

London

E1 6RA




Accountants
Kreston Reeves LLP
Chartered Accountants

2nd Floor

168 Shoreditch High Street

London

E1 6RA




 
Camerapix Magazines (UK) Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Camerapix Magazines (UK) Limited for the Year Ended 30 June 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Camerapix Magazines (UK) Limited for the year ended 30 June 2022 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Camerapix Magazines (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Camerapix Magazines (UK) Limited  and state those matters that we have agreed to state to the Board of directors of Camerapix Magazines (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Camerapix Magazines (UK) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Camerapix Magazines (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Camerapix Magazines (UK) Limited. You consider that Camerapix Magazines (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Camerapix Magazines (UK) 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 statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
8 December 2022
Page 1
 
Camerapix Magazines (UK) Limited
Registered number: 01614904

Balance sheet
As at 30 June 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 7 
7,105
-

Cash at bank and in hand
  
2,379
15,235

  
9,484
15,235

Creditors: amounts falling due within one year
 8 
(122,574)
(117,971)

Net current liabilities
  
 
 
(113,090)
 
 
(102,736)

Total assets less current liabilities
  
(113,090)
(102,736)

Net liabilities
  
(113,090)
(102,736)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(113,190)
(102,836)

  
(113,090)
(102,736)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 December 2022.

Mrs R Haq
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
Camerapix Magazines (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2022

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 2nd Floor, 168 Shoreditch High Street, London, E1 6RA.
The company's principal activity during the year was that of editing and publishing of magazines. The company's trading address is 32 Friars Walk, London, N14 5LP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts..

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3
 
Camerapix Magazines (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2022

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price.


3.


Turnover

Analysis of turnover by country of destination:

2022
2021
£
£

Rest of the world
8,585
14,270



4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).


5.


Directors' remuneration

2022
2021
£
£

Directors' emoluments
-
4,500


Page 4
 
Camerapix Magazines (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2022

6.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2021
2,757



At 30 June 2022

2,757



Depreciation


At 1 July 2021
2,757



At 30 June 2022

2,757



Net book value



At 30 June 2022
-



At 30 June 2021
-


7.


Debtors

2022
2021
£
£


Trade debtors
4,000
-

Other debtors
27
-

Prepayments and accrued income
3,078
-

7,105
-



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other taxation and social security
92
94

Other creditors
116,602
115,773

Accruals and deferred income
5,880
2,104

122,574
117,971


Included within the other creditors is money owed to the directors amounting to £113,950 (2021 -
£113,950).

Page 5
 
Camerapix Magazines (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 30 June 2022

9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1 each
100
100



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £490 (2021 - £499) . Contributions totaling £Nil (2021 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

Camerapix Publishers International Limited (Nairobi - Kenya) act as a debt collector, when necessary, in
the African continent on behalf of Camerapix Magazines (UK) Limited. This is reflected through the intercompany account. During the year Camerapix Magazines (UK) Limited bought services amounting to £Nil (2021 - £Nil) from Camerapix Publishers International Limited (Nairobi - Kenya). As at 30 June 2022 Camerapix Magazines (UK) Limited owed £1,491 (2021 - £1,491) to Camerapix Publishers International Limited (Nairobi - Kenya).


12.


Controlling party

The directors jointly hold all the Camerapix Magazines (UK) Limited issued shares. They are also the
directors of Camerapix Publishers International Limited (Nairobi - Kenya).


Page 6