2022-04-012023-03-312023-03-31false04686234APM STUDIOS 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APM STUDIOS LTD

Registered Number
04686234
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

APM STUDIOS LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Mr Andrew John Perris
Mrs Helen Perris

Registered Address

The Barn
Golden Square
Henfield
BN5 9DP

Registered Number

04686234 (England and Wales)
APM STUDIOS LTD
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets716,86715,411
16,86715,411
Current assets
Debtors910,61929,832
Cash at bank and on hand11,00517,194
21,62447,026
Creditors amounts falling due within one year10(15,950)(32,586)
Net current assets (liabilities)5,67414,440
Total assets less current liabilities22,54129,851
Creditors amounts falling due after one year11(22,475)(29,139)
Net assets66712
Capital and reserves
Called up share capital22
Profit and loss account64710
Shareholders' funds66712
The financial statements were approved and authorised for issue by the Board of Directors on 5 October 2023, and are signed on its behalf by:
Mrs Helen Perris
Director
Registered Company No. 04686234
APM STUDIOS LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of the specialist in photographic activities
4.Accounting policies
Functional and presentation currency policy
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Intangible fixed assets are stated at cost less amortisation. Amortisation is provided over the estimated useful life of the asset.
Revenue recognition policy
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.
Taxation policy
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
5.Employee information

20232022
Average number of employees during the year00
6.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2240,00040,000
At 31 March 2340,00040,000
Amortisation and impairment
At 01 April 2240,00040,000
At 31 March 2340,00040,000
Net book value
At 31 March 23--
At 31 March 22--
7.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2232,75716,50026,23175,488
Additions--5,1895,189
At 31 March 2332,75716,50031,42080,677
Depreciation and impairment
At 01 April 2231,89115,70312,48360,077
Charge for year1731593,4013,733
At 31 March 2332,06415,86215,88463,810
Net book value
At 31 March 2369363815,53616,867
At 31 March 2286679713,74815,411
8.Description of nature of transactions and balances with related parties
Directors balance is showing debit balance of - Mrs Helen Perris £3,991.09
9.Debtors

2023

2022

££
Trade debtors / trade receivables7,74425,809
Other debtors3724,023
Prepayments and accrued income2,503-
Total10,61929,832
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,415-
Taxation and social security12,09624,490
Other creditors-6,776
Accrued liabilities and deferred income1,4391,320
Total15,95032,586
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts22,47529,139
Total22,47529,139