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REGISTERED NUMBER: 03101806 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE BILL SKINNER STUDIO LIMITED

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE BILL SKINNER STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: W F Skinner
T W R Skinner
Mrs G J Skinner





SECRETARY: Mrs G J Skinner





REGISTERED OFFICE: 14 High Street
Otford
Kent
TN14 5PQ





REGISTERED NUMBER: 03101806 (England and Wales)






THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 44,350 54,125
Tangible assets 5 9,009 10,360
53,359 64,485

CURRENT ASSETS
Stocks 146,279 148,463
Debtors 6 43,201 50,377
Cash at bank and in hand 104,249 76,382
293,729 275,222
CREDITORS
Amounts falling due within one year 7 134,422 130,955
NET CURRENT ASSETS 159,307 144,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,666

208,752

CREDITORS
Amounts falling due after more than one
year

8

(104,349

)

(125,117

)

PROVISIONS FOR LIABILITIES 9 (10,138 ) (12,252 )
NET ASSETS 98,179 71,383

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

BALANCE SHEET - continued
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,026 1,026
Retained earnings 11 97,153 70,357
SHAREHOLDERS' FUNDS 98,179 71,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:




T W R Skinner - Director



W F Skinner - Director


THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

The Bill Skinner Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about The Bill Skinner Studio Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separate from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website computer costs 10-20% on cost.

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% per annum on cost
Plant and machinery - 25% per annum on reducing balance and 20% per annum on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Presentational currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2022 50,000 104,477 154,477
Additions - 5,250 5,250
At 31 December 2022 50,000 109,727 159,727
AMORTISATION
At 1 January 2022 50,000 50,352 100,352
Amortisation for year - 15,025 15,025
At 31 December 2022 50,000 65,377 115,377
NET BOOK VALUE
At 31 December 2022 - 44,350 44,350
At 31 December 2021 - 54,125 54,125

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 January 2022 11,087 148,433 159,520
Additions - 1,083 1,083
At 31 December 2022 11,087 149,516 160,603
DEPRECIATION
At 1 January 2022 11,086 138,074 149,160
Charge for year - 2,434 2,434
At 31 December 2022 11,086 140,508 151,594
NET BOOK VALUE
At 31 December 2022 1 9,008 9,009
At 31 December 2021 1 10,359 10,360

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 39,757 34,945
Amounts owed by group undertakings 150 150
Other debtors 3,294 15,282
43,201 50,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 26,411 25,900
Trade creditors 2,636 52,513
Taxation and social security 76,766 40,464
Other creditors 28,609 12,078
134,422 130,955

THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 104,349 125,117

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 10,138 12,252

Deferred
tax
£   
Balance at 1 January 2022 12,252
Credit to Income Statement during year (2,114 )
Balance at 31 December 2022 10,138

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number:

Class:
Nominal
Value:

2022


2021
£    £   

4,000 A Ordinary 25p 1,000 1,000
100 B Ordinary 25p 25 25
1 C Ordinary 25p 0.25 0.25
D Ordinary 25p 0.25 0.25
1 E Ordinary 25p 0.25 0.25
1 F Ordinary 25p 0.25 0.25
1,026 1,026



THE BILL SKINNER STUDIO LIMITED (REGISTERED NUMBER: 03101806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

11. RESERVES
Retained
earnings
£   

At 1 January 2022 70,357
Profit for the year 52,202
Dividends (25,406 )
At 31 December 2022 97,153

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have made interest free loans to the company at 31 December 2022 of £18,132 (2021: £1,461). These are included as other creditors falling due within one year in these financial statements.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by the director Mr W F Skinner.