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Registered number: |
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Statement of Financial Position | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 5 |
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Current assets | |||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 7 | ( |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 8 | ( |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account | - |
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Shareholder's funds |
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Mr Richard Galloway | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Going concern | ||||||||
The company's business was adversely affected by the outbreak of Covid-19 in 2020. Whilst the long-term effect of the virus to the business is uncertain, the director of the company considers the going concern basis to be appropriate. | ||||||||
Turnover | ||||||||
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Tangible fixed assets | ||||||||
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Plant and machinery | 25% reducing balance | |||||||
Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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2 | Employees | 2021 | 2020 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Government grants | |||||||
The company has received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred. The company also received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred. The company also received a local authority small business grant the income is shown in the profit and loss in the period in which the funds were received. |
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2021 | 2020 | |||||||
£ | £ | |||||||
Grants received under the covid job retention scheme | 575 | - | ||||||
Business interruption payments | 225 | - | ||||||
Small business grant | 11,725 | - | ||||||
4 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 August 2020 |
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At 31 July 2021 |
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Amortisation | ||||||||
At 1 August 2020 |
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At 31 July 2021 |
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Net book value | ||||||||
At 31 July 2021 | - | |||||||
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. | ||||||||
5 | Tangible fixed assets | |||||||
Plant and machinery etc | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 August 2020 |
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At 31 July 2021 |
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Depreciation | ||||||||
At 1 August 2020 |
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Charge for the year |
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At 31 July 2021 |
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Net book value | ||||||||
At 31 July 2021 |
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At 31 July 2020 |
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6 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Other debtors |
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- | ||||||
7 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Bank loans and overdrafts |
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- | ||||||
Accruals | 1,284 | 1,236 | ||||||
Corporation tax |
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Other creditors | - |
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8 | Creditors: amounts falling due after one year | 2021 | 2020 | |||||
£ | £ | |||||||
Bank loans |
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9 | Loans to directors | |||||||
Description and conditions | B/fwd | Paid | Repaid | C/fwd | ||||
£ | £ | £ | £ | |||||
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- | 7,895 | - | 7,895 | |||||
10 | Other information | |||||||
Richard Galloway Photography Ltd is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
21 Guildford Road | ||||||||
Frimley Green | ||||||||
Camberley | ||||||||
Surrey | ||||||||
GU16 6NN |