Registration number:
David Herdman Photography Ltd
for the Period from 1 February 2017 to 31 December 2017
13 The Courtyard
Timothys Bridge Road
Stratford-Upon-Avon
Warwickshire
CV37 9NP
David Herdman Photography Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
David Herdman Photography Ltd
Company Information
Director |
Mr David Anthony Herdman |
Company secretary |
Ms Clare Ann Norman |
Registered office |
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Registered number |
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Accountants |
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Page 1 |
David Herdman Photography Ltd
Director's Report for the Period from 1 February 2017 to 31 December 2017
The director presents his report and the financial statements for the period from 1 February 2017 to 31 December 2017.
Director of the company
The director who held office during the period was as follows:
Principal activity
The principal activity of the company is Photographic activities
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Mr David Anthony Herdman
Director
Page 2 |
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
David Herdman Photography Ltd
for the Period Ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of David Herdman Photography Ltd for the period ended 31 December 2017 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of David Herdman Photography Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of David Herdman Photography Ltd and state those matters that we have agreed to state to the Board of Directors of David Herdman Photography Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Herdman Photography Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that David Herdman Photography Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of David Herdman Photography Ltd. You consider that David Herdman Photography Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of David Herdman Photography Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
David Murphy FCCA on behalf of
Timothys Bridge Road
Stratford-Upon-Avon
Warwickshire
CV37 9NP
Page 3 |
David Herdman Photography Ltd
Profit and Loss Account for the Period from 1 February 2017 to 31 December 2017
Note |
2017 |
2017 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
- |
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- |
1 |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial period |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Page 4 |
David Herdman Photography Ltd
(Registration number: 05339908)
Balance Sheet as at 31 December 2017
Note |
2017 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 5 |
David Herdman Photography Ltd
(Registration number: 05339908)
Balance Sheet as at 31 December 2017
Approved and authorised by the
.........................................
Mr David Anthony Herdman
Director
Page 6 |
David Herdman Photography Ltd
Statement of Changes in Equity for the Period from 1 February 2017 to 31 December 2017
Share capital |
Profit and loss account |
Total |
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At 1 February 2017 |
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Profit for the period |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 December 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 February 2016 |
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Profit for the period |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 January 2017 |
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Page 7 |
David Herdman Photography Ltd
Notes to the Financial Statements for the Period from 1 February 2017 to 31 December 2017
General information |
The company is a private company limited by share capital, incorporated in England and Wales..
The company's registered number and registered office address can be found on the Company Information page.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Page 8 |
David Herdman Photography Ltd
Notes to the Financial Statements for the Period from 1 February 2017 to 31 December 2017
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.
Asset class |
Amortisation method and rate |
Goodwill |
20% Straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Profit before tax |
Arrived at after charging/(crediting)
2017 |
2017 |
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Depreciation expense |
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Amortisation expense |
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Page 9 |
David Herdman Photography Ltd
Notes to the Financial Statements for the Period from 1 February 2017 to 31 December 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 February 2017 |
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At 31 December 2017 |
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Amortisation |
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At 1 February 2017 |
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Amortisation charge |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 January 2017 |
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Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 February 2017 |
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Additions |
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Disposals |
( |
( |
At 31 December 2017 |
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Depreciation |
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At 1 February 2017 |
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Charge for the period |
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Eliminated on disposal |
( |
( |
At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 January 2017 |
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Page 10 |
David Herdman Photography Ltd
Notes to the Financial Statements for the Period from 1 February 2017 to 31 December 2017
Stocks |
2017 |
2017 |
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Stock |
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Debtors |
2017 |
2017 |
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Trade debtors |
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- |
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- |
Creditors |
Creditors: amounts falling due within one year
2017 |
2017 |
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Due within one year |
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Trade creditors |
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- |
Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Related party transactions |
Directors' remuneration
The director's remuneration for the period was as follows:
2017 |
2017 |
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Remuneration |
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DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Page 11 |