LEVON_BISS_PHOTOGRAPHY_LI - Accounts

LEVON BISS PHOTOGRAPHY LIMITED - Company Information

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Company Registration No. 06528066 (England and Wales)

LEVON BISS PHOTOGRAPHY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

LEVON BISS PHOTOGRAPHY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

LEVON BISS PHOTOGRAPHY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

14,315

18,420

Current assets

Debtors

8,226

5,488

Cash at bank and in hand

80,661

121,025

88,887

126,513

Creditors: amounts falling due within one year

(99,714)

(35,185)

Net current liabilities/(assets)

(10,827)

91,328

Total assets less current liabilities

3,488

109,748

Provisions for liabilities

(2,863)

(3,684)

625

106,064

Capital and reserves

Called up share capital

200

Profit and loss account

425

105,864

Shareholders' funds

625

106,064

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 July 2016

Mr L A Biss

Director

Company Registration No. 06528066

LEVON BISS PHOTOGRAPHY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Camera equipment

25% reducing balance

Computer equipment

33% on cost

Fixtures, fittings & equipment

25% reducing balance

1.5

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

LEVON BISS PHOTOGRAPHY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

46,624

Additions

2,181

Disposals

(498)

At 31 March 2016

48,307

Depreciation

At 1 April 2015

28,204

On disposals

(125)

Charge for the year

5,913

At 31 March 2016

33,992

Net book value

At 31 March 2016

14,315

At 31 March 2015

18,420

Share capital

2016

2015

Allotted, called up and fully paid

100 A Ordinary of £1 each

100

100 B Ordinary of £1 each

100

200