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Registration number: 09991963

SHE STUDIO LIMITED

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

 

SHE STUDIO LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

SHE STUDIO LIMITED

Company Information

Directors

Mrs A Martin

Mr S I Martin

Registered office

17 Bradmore Green
Brookmans Park
Herts
AL9 7QR

Accountants

Mawson Breskal & Co
6 Parkgate Avenue
Barnet
Herts
EN4 0NR

 

SHE STUDIO LIMITED

(Registration number: 09991963)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

22,314

26,608

Current assets

 

Debtors

5

-

3,625

Cash at bank and in hand

 

2,191

3,072

 

2,191

6,697

Prepayments and accrued income

 

2,701

-

Creditors: Amounts falling due within one year

(21,884)

(5,971)

Net current (liabilities)/assets

 

(16,992)

726

Total assets less current liabilities

 

5,322

27,334

Accruals and deferred income

 

(7,969)

(2,312)

Net (liabilities)/assets

 

(2,647)

25,022

Capital and reserves

 

Called up share capital

6

106

106

Share premium reserve

69,964

69,964

Retained earnings

(72,717)

(45,048)

Shareholders' (deficit)/funds

 

(2,647)

25,022

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 7 September 2023 and signed on its behalf by:
 

 

SHE STUDIO LIMITED

(Registration number: 09991963)
Abridged Balance Sheet as at 28 February 2023

.........................................
Mrs A Martin
Director

 

SHE STUDIO LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Bradmore Green
Brookmans Park
Herts
AL9 7QR

These financial statements were authorised for issue by the Board on 7 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.
Grants that are received in respect of expenses or losses already incurred by the entity are recognised in the profit and loss account when the grant becomes receivable.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

SHE STUDIO LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

over the life of the lease

Plant and equipment

25% reducing balance

Furniture and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

SHE STUDIO LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including directors under contract) during the year, was 0 (2022 - 0).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

36,663

3,786

32,141

72,590

Additions

-

2,127

-

2,127

At 28 February 2023

36,663

5,913

32,141

74,717

Depreciation

At 1 March 2022

18,942

2,667

24,373

45,982

Charge for the year

3,667

812

1,942

6,421

At 28 February 2023

22,609

3,479

26,315

52,403

Carrying amount

At 28 February 2023

14,054

2,434

5,826

22,314

At 28 February 2022

17,721

1,119

7,768

26,608

Included within the net book value of land and buildings above is £14,054 (2022 - £17,720) in respect of short leasehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

106

106

106

106

         

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

 

SHE STUDIO LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

The total amount of financial commitments not included in the balance sheet is £54,627 (2022 - £69,127).

8

Related party transactions

 

SHE STUDIO LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,000

12,000