Darren Cresswell Photography Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05353750 (England and Wales)

Darren Cresswell Photography Limited

Unaudited Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

D Cresswell

REGISTERED OFFICE:

67 Leicester Road

Ashby de la Zouch

Leicestershire

LE65 1DD

REGISTERED NUMBER:

05353750 (England and Wales)

ACCOUNTANTS:

Haines Watts

6 Charter Point Way

Ashby Business Park

Ashby De La Zouch

Leicestershire

LE65 1NF

FIXED ASSETS

Tangible assets

5

1,611

1,408

CURRENT ASSETS

Debtors

6

61,536

66,389

Cash at bank

-

364

61,536

66,753

CREDITORS

Amounts falling due within one year

7

15,375

14,925

NET CURRENT ASSETS

46,161

51,828

TOTAL ASSETS LESS CURRENT LIABILITIES

47,772

53,236

CREDITORS

Amounts falling due after more than one year

8

-

(736

)

PROVISIONS FOR LIABILITIES

(322

)

(282

)

NET ASSETS

47,450

52,218

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

47,350

52,118

SHAREHOLDERS' FUNDS

47,450

52,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 December 2017 and were signed by:

D Cresswell - Director

1.	STATUTORY INFORMATION

Darren Cresswell Photography Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 December 2016 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 January 2015.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgement, estimates

and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

not provided

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2016

11,224

1,974

13,198

Additions

607

273

880

At 31 December 2016

11,831

2,247

14,078

DEPRECIATION

At 1 January 2016

10,103

1,687

11,790

Charge for year

432

245

677

At 31 December 2016

10,535

1,932

12,467

NET BOOK VALUE

At 31 December 2016

1,296

315

1,611

At 31 December 2015

1,121

287

1,408

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

1,683

1,414

Other debtors

1,905

1,905

Directors' current accounts

57,948

63,070

61,536

66,389

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

468

1,736

Tax

13,996

12,432

Accrued expenses

911

757

15,375

14,925

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 1-2 years

-

736

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2016

52,118

Profit for the year

26,432

Dividends

(31,200

)

At 31 December 2016

47,350

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

D Cresswell

Balance outstanding at start of year

63,070

31,919

Amounts advanced

46,733

45,323

Amounts repaid

(51,855

)

(14,172

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

57,948

63,070

12.	FIRST YEAR ADOPTION

The company has adopted the provisions set out in FRS102 (Section 1A) for small companies. This is the first

year that the company has prepared financial statements under the new regulatory framework. It is not

considered that there are any transitional adjustments required to either the prior year figures nor those at the

transitional date. As such, no reconciliation is provided in these financial statements.