Company registration number 06831812 (England and Wales)
STUDIOUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
STUDIOUS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STUDIOUS LIMITED (REGISTERED NUMBER: 06831812)
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
57,610
84,495
Current assets
Debtors
4
29,850
29,992
Cash at bank and in hand
198,000
216,759
227,850
246,751
Creditors: amounts falling due within one year
5
(55,485)
(65,146)
Net current assets
172,365
181,605
Total assets less current liabilities
229,975
266,100
Creditors: amounts falling due after more than one year
6
(28,013)
(34,524)
Provisions for liabilities
-
0
(10,622)
Net assets
201,962
220,954
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
201,961
220,953
Total equity
201,962
220,954

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

STUDIOUS LIMITED (REGISTERED NUMBER: 06831812)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 October 2023
S Brown
Director
STUDIOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Studious Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

STUDIOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
7
STUDIOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
4,131
17,659
95,460
117,250
Additions
-
0
1,007
-
0
1,007
Disposals
-
0
(3,965)
(9,520)
(13,485)
At 31 March 2023
4,131
14,701
85,940
104,772
Depreciation and impairment
At 1 April 2022
3,269
14,263
15,223
32,755
Depreciation charged in the year
215
1,820
18,175
20,210
Eliminated in respect of disposals
-
0
(3,820)
(1,983)
(5,803)
At 31 March 2023
3,484
12,263
31,415
47,162
Carrying amount
At 31 March 2023
647
2,438
54,525
57,610
At 31 March 2022
862
3,396
80,237
84,495

These figures include assets with a total net book value of £54,525 (2022: £72,701) held under hire purchase agreements.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
29,850
29,992
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
43,040
50,558
Other creditors
12,445
14,588
55,485
65,146
STUDIOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
28,013
34,524
7
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
6,511
6,511
In two to five years
28,013
34,524
34,524
41,035

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
6 Ordinary of 10p each
0.6
0.6
4 Ordinary A of 10p each
0.4
0.4
1
1
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
4,915
9,129
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