JC Gray Photographic Ltd
JC Gray Photographic Ltd
Registered number: 08453315
Unaudited Financial Statements
For The Year Ended 31 March 2017
Ten Forward Finance Ltd
Certified Practising Accountants
Balfour House
741 High Road
London
N12 0BP
JC Gray Photographic Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—7 |
JC Gray Photographic Ltd
Statement of Financial Position
For The Year Ended 31 March 2017
Statement of Financial Position
Registered number:
08453315
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 857 | 535 | |||
Page 1
JC Gray Photographic Ltd
Statement of Financial Position (continued)
For The Year Ended 31 March 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Income Statement
On behalf of the board
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The notes on pages 4 to 7 form part of these financial statements.
Page 2
JC Gray Photographic Ltd
Statement of Changes in Equity
For The Year Ended 31 March 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 April 2015 |
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68 |
| Profit for the year and total comprehensive income | - |
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25,967 |
| Dividends paid | - | (25,500) | (25,500) |
| As at 31 March 2016 and 1 April 2016 |
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535 |
| Profit for the year and total comprehensive income | - |
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27,322 |
| Dividends paid | - | (27,000) | (27,000) |
| As at |
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857 |
Page 3
JC Gray Photographic Ltd
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.4.
Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
|---|---|---|---|
| Sales, marketing and distribution |
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Page 4
JC Gray Photographic Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
6.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost | |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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7.
Debtors
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Director's loan account | 6,479 | 4,965 | |
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| Due after more than one year | |||
| Trade debtors |
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Page 5
JC Gray Photographic Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
8.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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10.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
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| £ | £ | £ | £ | |
| Mr James Gray |
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The above loan is unsecured, interest free and repayable on demand. The loan was repaid on 30 November 2017.
Dividends paid to directors
| 2017 | 2016 | |
|---|---|---|
| £ | £ | |
| Mr James Gray | 27,000 | 25,500 |
11.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 27,000 | 25,500 | ||
12.
Ultimate Controlling Party
The company's ultimate controlling party is Mr James Gray by virtue of his ownership of 100% of the issued share capital in the company.
Page 6
JC Gray Photographic Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
13.
General Information
JC Gray Photographic Ltd Registered number 08453315 is a limited by shares company incorporated in England & Wales. The Registered Office is 75 Park Hall Road, London, N2 9PY.
Page 7