Paul Popper Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01332826 (England and Wales)

Paul Popper Limited

Abbreviated Unaudited Accounts

for the Year Ended 30th April 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

R J Thomas

G W Shaeffer

SECRETARY:

Mrs. J A Thomas

REGISTERED OFFICE:

310 Wellingborough Road

Northampton

Northamptonshire

NN1 4EP

REGISTERED NUMBER:

01332826 (England and Wales)

ACCOUNTANTS:

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

FIXED ASSETS

Intangible assets

2

72,227

64,000

Tangible assets

3

823,886

817,500

896,113

881,500

CURRENT ASSETS

Debtors

1,022,388

958,318

Cash at bank and in hand

195,314

24,100

1,217,702

982,418

CREDITORS

Amounts falling due within one year

154,346

148,413

NET CURRENT ASSETS

1,063,356

834,005

TOTAL ASSETS LESS CURRENT LIABILITIES

1,959,469

1,715,505

PROVISIONS FOR LIABILITIES

160,246

157,788

NET ASSETS

1,799,223

1,557,717

CAPITAL AND RESERVES

Called up share capital

4

110

110

Profit and loss account

1,799,113

1,557,607

SHAREHOLDERS' FUNDS

1,799,223

1,557,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10th December 2014 and were signed on its behalf by:

R J Thomas - 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 April 2008).

Turnover

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

98.64% of the company's turnover related to exports (2013 - 99.59%)

Intangible fixed asset

Intangible fixed assets are valued at historical cost and are amortised over the estimated economic life of the

asset on a straight line basis as follows:

Intellectual property

-

5 years

The carrying value of intangible assets is reviewed for any impairment.

Tangible fixed assets

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

Fixtures, Fittings & Equipment

-

20% and 25% straight line

Computer equipment

-

25% on cost

No depreciation is provided on books, illustrations, negatives and prints since, in the opinion of the directors,

these assets do not depreciate.

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Negatives and prints

Where negatives and prints are included as tangible fixed assets, the cost represents identifiable amounts

incurred in the acquisition of specific photographic items and collections.

Expenditure in respect of materials, wages, commissions etc., for the creation of photographic prints and

negatives is written off through the profit and loss account as incurred.

Commissions

Commissions are provided in respect of amount due to photographers who have either been paid for the use of

their photographs since 1st May 1988, or photographers whose work has been accepted for inclusion in the

library by the company since it was acquired by Bob Thomas Holdings Limited on 1st December 1990.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2013

80,000

Additions

26,415

At 30th April 2014

106,415

AMORTISATION

At 1st May 2013

16,000

Amortisation for year

18,188

At 30th April 2014

34,188

NET BOOK VALUE

At 30th April 2014

72,227

At 30th April 2013

64,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2013

1,298,013

Additions

18,894

Disposals

(459,946

)

At 30th April 2014

856,961

DEPRECIATION

At 1st May 2013

480,513

Charge for year

11,578

Eliminated on disposal

(459,016

)

At 30th April 2014

33,075

NET BOOK VALUE

At 30th April 2014

823,886

At 30th April 2013

817,500

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

110

Ordinary shares

£1

110

110

5.	ULTIMATE PARENT COMPANY

Bob Thomas Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The company is under the control of Bob Thomas Holdings Limited, a company incorporated in England and

Wales, and the ultimate control of R J Thomas.