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REGISTERED NUMBER: 10765047 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2023

for

STUDIO ALBATROSS LIMITED

STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STUDIO ALBATROSS LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: D Hughes
Dr C Mccall





REGISTERED OFFICE: 25 Queen Elizabeths Walk
London
N16 5UZ





REGISTERED NUMBER: 10765047 (England and Wales)





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)

Balance Sheet
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,022 11,803

CURRENT ASSETS
Debtors 5 391 510
Cash at bank 5,717 40,781
6,108 41,291
CREDITORS
Amounts falling due within one year 6 (24,854 ) (42,894 )
NET CURRENT LIABILITIES (18,746 ) (1,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,724

)

10,200

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (2,726 ) 10,198
SHAREHOLDERS' FUNDS (2,724 ) 10,200

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 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.

STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)

Balance Sheet - continued
31 MAY 2023


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 27 October 2023 and were signed on its behalf by:





Dr C Mccall - Director


STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Studio Albatross 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022 30,646
Additions 17,153
At 31 May 2023 47,799
DEPRECIATION
At 1 June 2022 18,843
Charge for year 12,934
At 31 May 2023 31,777
NET BOOK VALUE
At 31 May 2023 16,022
At 31 May 2022 11,803

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 391 510

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,494 26,088
Tax 4,492 2,033
Directors' current accounts 118 14,023
Accrued expenses 750 750
24,854 42,894

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

STUDIO ALBATROSS LIMITED (REGISTERED NUMBER: 10765047)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023

8. RESERVES
Retained
earnings
£   

At 1 June 2022 10,198
Profit for the year 26,076
Dividends (39,000 )
At 31 May 2023 (2,726 )

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Amounts owed to the Directors at the 31st May 2023, £118 (£14,023 2022) The amounts are interest free and repayable on demand.

10. POST BALANCE SHEET EVENTS

The directors have considered recent developments in Russia and the Ukraine and the impact this has on the Financial Statements up to the date of signing and do not consider any adjustments are required at this moment in time.