Company Registration No. 03985106 (England and Wales)
Prop Studios Limited
Unaudited accounts
for the year ended 29 April 2023
Prop Studios Limited
Unaudited accounts
Contents
Prop Studios Limited
Company Information
for the year ended 29 April 2023
Directors
David Roberts
Nina Rowland
Company Number
03985106 (England and Wales)
Registered Office
UNIT 302, BRICKFIELDS 37 CREMER STREET
LONDON
E2 8HD
ENGLAND
Accountants
Raedan
7 Henrietta Street
London
WC2E 8PS
Prop Studios Limited
Statement of financial position
as at 29 April 2023
Tangible assets
5,372
5,183
Cash at bank and in hand
91,607
142,715
Creditors: amounts falling due within one year
(136,568)
(147,640)
Net current assets
186,927
175,354
Total assets less current liabilities
192,299
180,537
Creditors: amounts falling due after more than one year
(26,039)
(30,838)
Net assets
166,260
149,699
Called up share capital
105,000
105,000
Profit and loss account
61,260
44,699
Shareholders' funds
166,260
149,699
For the year ending 29 April 2023 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 25 September 2023 and were signed on its behalf by
Nina Rowland
Director
Company Registration No. 03985106
Prop Studios Limited
Notes to the Accounts
for the year ended 29 April 2023
Prop Studios Limited is a private company, limited by shares, registered in England and Wales, registration number 03985106. The registered office is UNIT 302, BRICKFIELDS 37 CREMER STREET, LONDON, E2 8HD, 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:
Fixtures & fittings
33% on cost
Computer equipment
33% on cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
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.
Prop Studios Limited
Notes to the Accounts
for the year ended 29 April 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 30 April 2022
283
29,581
29,864
At 29 April 2023
575
33,312
33,887
At 30 April 2022
283
24,398
24,681
Charge for the year
97
3,737
3,834
At 29 April 2023
380
28,135
28,515
At 29 April 2023
195
5,177
5,372
At 29 April 2022
-
5,183
5,183
Amounts falling due within one year
Trade debtors
108,684
108,597
Accrued income and prepayments
91,607
41,907
Other debtors
31,597
29,775
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,500
10,000
Trade creditors
90,467
39,069
Taxes and social security
15,726
29,128
Other creditors
3,598
2,120
Loans from directors
-
20,000
7
Creditors: amounts falling due after more than one year
2023
2022
Creditors include a Bounce Back Loan of £33,539 of which £7,500 is due within one year. Interest is charged at 2.5% per annum.
Prop Studios Limited
Notes to the Accounts
for the year ended 29 April 2023
Allotted, called up and fully paid:
73,500 Ordinary A of £1 each
73,500
73,500
31,500 Ordinary B of £1 each
31,500
31,500
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
16,027
9,822
8,000
17,849
16,027
9,822
8,000
17,849
Director's loan balance includes interest charged @2%.
10
Average number of employees
During the year the average number of employees was 11 (2022: 11).