Company Registration No. 06414048 (England and Wales)
Karen Hardy Studios Limited
Unaudited accounts
for the year ended 31 December 2021
Karen Hardy Studios Limited
Unaudited accounts
Contents
Karen Hardy Studios Limited
Company Information
for the year ended 31 December 2021
Company Number
06414048 (England and Wales)
Registered Office
75 Park Lane
Croydon
CR9 1XS
United Kingdom
Accountants
Taylor Dutton Consultancy Limited
3 Beeches Walk
Carshalton Beeches
Surrey
SM5 4JS
Karen Hardy Studios Limited
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
1,524
5,060
Creditors: amounts falling due within one year
(221,007)
(242,456)
Net current liabilities
(219,057)
(237,396)
Net liabilities
(219,057)
(237,396)
Called up share capital
1,000
1,000
Profit and loss account
(220,057)
(238,396)
Shareholders' funds
(219,057)
(237,396)
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by
Y Li
Director
Company Registration No. 06414048
Karen Hardy Studios Limited
Notes to the Accounts
for the year ended 31 December 2021
Karen Hardy Studios Limited is a private company, limited by shares, registered in England and Wales, registration number 06414048. The registered office is 75 Park Lane, Croydon, CR9 1XS, United Kingdom.
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 financial statements have been prepared on the going concern basis on the grounds that group undertakings will continue to provide sufficient finance.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Land & buildings
straight line over 15 years
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Karen Hardy Studios Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2021
280,975
9,146
28,562
19,702
338,385
At 31 December 2021
280,975
9,146
28,562
19,702
338,385
At 1 January 2021
280,975
9,146
28,562
19,702
338,385
At 31 December 2021
280,975
9,146
28,562
19,702
338,385
At 31 December 2021
-
-
-
-
-
5
Debtors: amounts falling due within one year
2021
2020
Debtors: amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
1,229
8,248
Amounts owed to group undertakings and other participating interests
218,832
220,469
Taxes and social security
-
10,663
The creditors figures include amounts owed to group undertakings who have undertaken not to seek repayment until the company is otherwise solvent.
The controlling entity is Suntang International Limited who own 100% of the equity.
8
Average number of employees
During the year the average number of employees was 1 (2020: 5).