Photographic Synergy Limited - Accounts to registrar (filleted) - small 23.2.5
Photographic Synergy Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| FOR |
| PHOTOGRAPHIC SYNERGY LIMITED |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PHOTOGRAPHIC SYNERGY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Jordan Street |
| Knott Mill |
| Manchester |
| M15 4PY |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| BALANCE SHEET |
| 28 FEBRUARY 2023 |
| 28.2.23 | 28.2.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2023 |
| 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 |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| 1. | STATUTORY INFORMATION |
| Photographic Synergy Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07159567 and its registered office is at Photographic Synergy, Willows Farm Village, Coursers Road, London Colney, St Albans, Herts, AL4 0PF. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the balance sheet date the company had net liabilities of £141,823 (2022: £158,044). The directors have reviewed the business operations and made changes where necessary to ensure, as far as possible, that the future trading periods are profitable. On this basis, and with the continued financial support of key creditors, the going concern basis of preparation of these financial statements is appropriate. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation or impairment losses. Goodwill, being the amount paid in connection with the business acquisition, is being amortised evenly over its useful economic life of 10 years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 March 2022 |
| and 28 February 2023 |
| AMORTISATION |
| At 1 March 2022 |
| Charge for year |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 March 2022 |
| and 28 February 2023 |
| DEPRECIATION |
| At 1 March 2022 |
| Charge for year |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| PHOTOGRAPHIC SYNERGY LIMITED (REGISTERED NUMBER: 07159567) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to connected undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Bank loans |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Within one year |