Company Registration No. 06000937 (England and Wales)
Picture-Connect Limited
Unaudited accounts
for the year ended 30 November 2021
Picture-Connect Limited
Unaudited accounts
Contents
Picture-Connect Limited
Company Information
for the year ended 30 November 2021
Company Number
06000937 (England and Wales)
Registered Office
3 Albert Embankment
London
SE1 7SP
England
Accountants
Financial and Accounting Solutions
6 Hadleigh Close
Harrow
Middlesex
HA2 8FA
Picture-Connect Limited
Statement of financial position
as at
30 November 2021
Tangible assets
451,414
627,879
Cash at bank and in hand
22,011
31,195
Creditors: amounts falling due within one year
(142,444)
(338,649)
Net current liabilities
(80,122)
(290,454)
Total assets less current liabilities
371,292
337,425
Creditors: amounts falling due after more than one year
(417,565)
(397,534)
Provisions for liabilities
Deferred tax
(19,495)
(25,993)
Net liabilities
(65,768)
(86,102)
Called up share capital
100
100
Profit and loss account
(65,868)
(86,202)
Shareholders' funds
(65,768)
(86,102)
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2022 and were signed on its behalf by
V Nikolaidis
Director
Company Registration No. 06000937
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2021
Picture-Connect Limited is a private company, limited by shares, registered in England and Wales, registration number 06000937. The registered office is 3 Albert Embankment, London, SE1 7SP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% WDV
Other tangible fixed assets
3-5 years ( based on lease period)
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 1 December 2020
1,176,826
At 30 November 2021
1,176,826
At 1 December 2020
548,947
Charge for the year
176,465
At 30 November 2021
725,412
At 30 November 2021
451,414
At 30 November 2020
627,879
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2021
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
25,500
17,000
Debtors: amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
135,359
134,537
Trade creditors
3,110
11,023
Taxes and social security
-
6,275
Loans from directors
-
178,777
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
261,256
397,436
Other creditors
20,008
98
Loans from directors
136,301
-
8
Deferred taxation
2021
2020
Accelerated capital allowances
19,495
25,993
Provision at start of year
25,993
34,657
Credited to the profit and loss account
(6,498)
(8,664)
Provision at end of year
19,495
25,993
Picture-Connect Limited
Notes to the Accounts
for the year ended 30 November 2021
9
Transactions with related parties
During the year the company traded with Westminster Live Limited (WML) and provided services in the year to the value of £61,200 (YE 30/11/20 - £156,000) and amount owed to Picture Connect Ltd was £Nil (YE 31/11/20 £Nil).
The company also traded with Camelot Broadcasting Services Gmbh (CBSG) and transactions in the year were £152,300 (YE 31/11/20 - £40,300) and amount owed by CBSG was £6,000 (YE 30/11/20 - £Nil).
The company also traded with Premier Media Agency Ltd and transactions in the year was Nil (YE 31/11/20 -£4,675) and amount owed is Nil (YE 30/11/20 - nil).
These companies are related to each other by a common director and shareholder.
10
Average number of employees
During the year the average number of employees was 1 (2020: 1).