Registered number
07213429
Studio H Limited
Report and unaudited Financial Statements
30 April 2018
Studio H Limited
Registered number: 07213429
Balance sheet
as at 30 April 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 4 3,414 6,105
Current assets
Debtors 5 13,863 1,122
Cash at bank and in hand 22,919 20,681
36,782 21,803
Creditors: amounts falling due within one year 6 (23,542) (19,361)
Net current assets 13,240 2,442
Total assets less current liabilities 16,654 8,547
Provisions for liabilities (649) (1,221)
Net assets 16,005 7,326
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,905 7,226
Shareholders' funds 16,005 7,326
These financial statements have been prepared and 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, under s444.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements.
………………………………
Mrs N Hall
Director
Approved by the board on 12 November 2018
Studio H Limited
Notes to the unaudited financial statements
for the year ended 30 April 2018
1 General Information
Studio H Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is : 54 Wandsworth Common Westside, London, SW18 2ED.
2 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture, fixture and equipment 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Average number of employees during the year
The average number of employees, including directors, during the year was as follows:
2018 2017
Number Number
Number of employees 2 2
4 Tangible fixed assets
Furniture, fixture and equipment
£
Cost
At 1 May 2017 15,052
Additions 450
Disposals (4,411)
At 30 April 2018 11,091
Depreciation
At 1 May 2017 8,947
Charge for the year 2,031
On disposals (3,301)
At 30 April 2018 7,677
Net book value
At 30 April 2018 3,414
At 30 April 2017 6,105
5 Debtors 2018 2017
£ £
Trade debtors 13,681 937
Prepayments 182 185
13,863 1,122
6 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 3,666 2,608
Other taxes and social security costs 16,799 13,675
Directors' loan account 981 1,172
Other creditors 2,096 1,906
23,542 19,361
7 Related party transactions
2018 2017
£ £
Total remuneration paid to directors 17,688 16,122
Total dividends paid to directors 52,079 47,000
Other transactions:
Interest free loans made by the Directors to the Company 981 1,172
Studio H Limited 07213429 false 2017-05-01 2018-04-30 2018-04-30 VT Final Accounts July 2018 Mrs N Hall No description of principal activity 07213429 2016-05-01 2017-04-30 07213429 core:WithinOneYear 2017-04-30 07213429 core:ShareCapital 2017-04-30 07213429 core:RetainedEarningsAccumulatedLosses 2017-04-30 07213429 2017-05-01 2018-04-30 07213429 bus:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 07213429 bus:AuditExemptWithAccountantsReport 2017-05-01 2018-04-30 07213429 bus:Director40 2017-05-01 2018-04-30 07213429 countries:England 2017-05-01 2018-04-30 07213429 1 2017-05-01 2018-04-30 07213429 2 2017-05-01 2018-04-30 07213429 core:LandBuildings 2017-05-01 2018-04-30 07213429 bus:FRS102 2017-05-01 2018-04-30 07213429 bus:FullAccounts 2017-05-01 2018-04-30 07213429 2018-04-30 07213429 core:WithinOneYear 2018-04-30 07213429 core:ShareCapital 2018-04-30 07213429 core:RetainedEarningsAccumulatedLosses 2018-04-30 07213429 core:LandBuildings 2018-04-30 07213429 2017-04-30 07213429 core:LandBuildings 2017-04-30 iso4217:GBP xbrli:pure