PHOTO_NOTTINGHAM_LIMITED - Accounts

PHOTO NOTTINGHAM LIMITED - Company Information

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Company Registration No. 05612147 (England and Wales)

PHOTO NOTTINGHAM LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

PHOTO NOTTINGHAM LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

PHOTO NOTTINGHAM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

5,000

Tangible assets

37,397

37,514

42,397

42,514

Current assets

Stocks

700

750

Debtors

70,136

62,363

Cash at bank and in hand

2,386

9,009

73,222

72,122

Creditors: amounts falling due within one year

(76,226)

(60,752)

Net current liabilities/(assets)

(3,004)

11,370

Total assets less current liabilities

39,393

53,884

Capital and reserves

Called up share capital

Profit and loss account

39,391

53,882

Shareholders' funds

39,393

53,884

PHOTO NOTTINGHAM LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 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 26 September 2016

S McIntyre

Director

Company Registration No. 05612147

PHOTO NOTTINGHAM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Land and buildings Leasehold

15% reducing balance.

Plant and machinery

25% reducing balance.

Fixtures, fittings & equipment

15% reducing balance on Fixtures & Fittings
25% reducing balance on Equipment.

PHOTO NOTTINGHAM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

5,000

88,416

93,416

Additions

10,889

Disposals

(12,675)

At 31 December 2015

5,000

86,630

91,630

Depreciation

At 1 January 2015

50,902

On disposals

(10,037)

Charge for the year

8,368

At 31 December 2015

49,233

Net book value

At 31 December 2015

5,000

37,397

42,397

At 31 December 2014

5,000

37,514

42,514

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary share of £1 each

1 Ordinary B Share of £1 each

Related party relationships and transactions

PHOTO NOTTINGHAM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

Related party relationships and transactions

(Continued)

- 5 -

Directors Loans

Transactions in relation to loans to directors during the year are aggregated in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

S McIntyre - Loan from company

34,601

47,013

58,128

23,486

D Cartwright - Loan to company

(67)

24,000

32,028

(8,095)

34,534

71,013

90,156

15,391

The balance owed by the directors is included within other debtors.

The maximum amount S Mcintyre owed to the company at any time during the year was £37,601.