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REGISTERED NUMBER: 08911309 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

STUDIO O LTD

STUDIO O LTD (REGISTERED NUMBER: 08911309)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STUDIO O LTD

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTOR: Miss O Gregory





REGISTERED OFFICE: Ground Floor Flat
95 Lewin Road
London
SW16 6JX





REGISTERED NUMBER: 08911309 (England and Wales)






STUDIO O LTD (REGISTERED NUMBER: 08911309)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £   
CURRENT ASSETS
Debtors 4 18,858 35,595
Cash at bank 137,302 155,549
156,160 191,144
CREDITORS
Amounts falling due within one year 5 50,068 64,265
NET CURRENT ASSETS 106,092 126,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,092

126,879

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 105,992 126,779
SHAREHOLDERS' FUNDS 106,092 126,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 27 October 2023 and were signed by:





Miss O Gregory - Director


STUDIO O LTD (REGISTERED NUMBER: 08911309)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Studio O Ltd 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.

After reviewing the company's forecasts and projections, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

However due to the uncertainty surrounding the Covid-19 virus at the time of approval of these accounts the director believes it is difficult to establish the long term impact this may have on the business.

Turnover
Turnover represents fees and expenses recharged to clients including value added tax.

Rendering of services

Revenue for providing services is recognised in the period when projects are completed.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

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.

STUDIO O LTD (REGISTERED NUMBER: 08911309)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 18,858 30,460
Other debtors - 5,135
18,858 35,595

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 5,978 19,972
Other creditors 44,090 44,293
50,068 64,265

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary 1 100 100

7. RELATED PARTY DISCLOSURES

At the year end the company owes the director O Gregory is owed £37,837 (2022 - £38,441). The loan is interest free and repayable on demand.