Myphotoschool Limited - Limited company accounts 16.1

REGISTERED NUMBER: 07096314 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Period 1 March 2015 to 31 December 2015

for

Myphotoschool Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mrs E A Briscoe

D G Heather

REGISTERED OFFICE:

1 Charterhouse Mews

London

EC1M 6BB

REGISTERED NUMBER:

07096314 (England and Wales)

ACCOUNTANTS:

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

The directors present their report with the financial statements of the company for the period 1 March 2015 to 31 December 2015.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2015 to the date of this report.

Mrs E A Briscoe

D G Heather

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs E A Briscoe - Director

30 September 2016

TURNOVER

-

21,629

Cost of sales

-

17,762

GROSS PROFIT

-

3,867

Administrative expenses

-

37,556

-

(33,689

)

Other operating income

-

97,241

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

-

63,552

Tax on profit on ordinary activities

3

-

-

PROFIT FOR THE FINANCIAL PERIOD

-

63,552

FIXED ASSETS

Intangible assets

4

-

395

Tangible assets

5

-

8,045

-

8,440

CURRENT ASSETS

Debtors

6

-

7,206

Cash at bank and in hand

200

3,114

200

10,320

CREDITORS

Amounts falling due within one year

7

-

34,640

NET CURRENT ASSETS/(LIABILITIES)

200

(24,320

)

TOTAL ASSETS LESS CURRENT LIABILITIES

200

(15,880

)

CAPITAL AND RESERVES

Called up share capital

8

200

200

Capital contribution reserve

9

-

10,000

Profit and loss account

9

-

(26,080

)

SHAREHOLDERS' FUNDS

200

(15,880

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2015 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 30 September 2016 and were signed on its behalf by:

Mrs E A Briscoe - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

The company was dormant throughout the period ended 31 December 2015. However, reference to information

relating to the year ended 28 February 2015 has been made where appropriate.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% on reducing balance

Website and Video Production

-

20% on cost

Preparation of consolidated financial statements

As at 1st March 2015 all activities, assets and liabilities of the group of companies were transferred into the

parent Company and these financial statements reflect this.

2.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.3.15

to

Year Ended

31.12.15

28.2.15

£

£

Depreciation - owned assets

-

2,012

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the period ended 31 December 2015 nor for

the year ended 28 February 2015.

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2015

395

Reclassification/transfer

(395

)

At 31 December 2015

-

NET BOOK VALUE

At 31 December 2015

-

At 28 February 2015

395

5.	TANGIBLE FIXED ASSETS

Website

and Video

Equipment

Production

Totals

£

£

£

COST

At 1 March 2015

3,563

22,190

25,753

Reclassification/transfer

(3,563

)

(24,495

)

(28,058

)

At 31 December 2015

-

(2,305

)

(2,305

)

DEPRECIATION

At 1 March 2015

2,305

15,403

17,708

Reclassification/transfer

(2,305

)

(17,708

)

(20,013

)

At 31 December 2015

-

(2,305

)

(2,305

)

NET BOOK VALUE

At 31 December 2015

-

-

-

At 28 February 2015

1,258

6,787

8,045

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

28.2.15

£

£

Other debtors

-

7,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

28.2.15

£

£

Trade creditors

-

(1

)

Amounts owed to group undertakings

-

32,941

Other creditors

-

1,700

-

34,640

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

28.2.15

value:

£

£

200

Ordinary

£1

200

200

9.

RESERVES

Profit

Capital

and loss

contribution

account

reserve

Totals

£

£

£

At 1 March 2015

(26,080

)

10,000

(16,080

)

Profit for the period

-

-

Reclassification/transfer

-

(10,000

)

(10,000

)

No description

26,080

-

26,080

At 31 December 2015

-

-

-

10.	ULTIMATE PARENT COMPANY

MyOnlineSchool Limited is regarded by the directors as being the company's ultimate parent company.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is MyOnlineSchool Limited.