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Company Registration No. 11542250 (England and Wales)
Studiospares Europe Limited Unaudited accounts for the year ended 31 December 2022
Studiospares Europe Limited Unaudited accounts Contents
Page
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Studiospares Europe Limited Company Information for the year ended 31 December 2022
Directors
R D Collins H Gittelmon M Robinson D Hodgkinson
Company Number
11542250 (England and Wales)
Registered Office
Churchill House 137-139 Brent Street London NW4 4DJ
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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Studiospares Europe Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
31,474 
28,107 
Tangible assets
187,873 
224,241 
219,347 
252,348 
Current assets
Inventories
971,957 
960,362 
Debtors
208,281 
208,326 
Cash at bank and in hand
101,482 
73,106 
1,281,720 
1,241,794 
Creditors: amounts falling due within one year
(2,437,175)
(2,285,257)
Net current liabilities
(1,155,455)
(1,043,463)
Total assets less current liabilities
(936,108)
(791,115)
Creditors: amounts falling due after more than one year
(26,667)
(36,667)
Net liabilities
(962,775)
(827,782)
Capital and reserves
Called up share capital
3,267 
3,267 
Profit and loss account
(966,042)
(831,049)
Shareholders' funds
(962,775)
(827,782)
For the year ending 31 December 2022 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 30 October 2023 and were signed on its behalf by
M Robinson Director Company Registration No. 11542250
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Studiospares Europe Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Studiospares Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 11542250. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Land & buildings
Amortised over the period of the lease
Fixtures & fittings
15% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension 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.
Going concern
The financial statements have been prepared on a going concern basis. The company is dependent upon the continuing support of its directors and group companies which is expected to continue for at least one year from the date of approval of the financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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Studiospares Europe Limited Notes to the Accounts for the year ended 31 December 2022
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2022
32,050 
Additions
7,302 
At 31 December 2022
39,352 
Amortisation
At 1 January 2022
3,943 
Charge for the year
3,935 
At 31 December 2022
7,878 
Net book value
At 31 December 2022
31,474 
At 31 December 2021
28,107 
5
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2022
114,995 
70,405 
149,260 
334,660 
At 31 December 2022
114,995 
70,405 
149,260 
334,660 
Depreciation
At 1 January 2022
22,998 
26,817 
60,604 
110,419 
Charge for the year
7,666 
6,538 
22,164 
36,368 
At 31 December 2022
30,664 
33,355 
82,768 
146,787 
Net book value
At 31 December 2022
84,331 
37,050 
66,492 
187,873 
At 31 December 2021
91,997 
43,588 
88,656 
224,241 
6
Inventories
2022 
2021 
£ 
£ 
Finished goods
971,957 
960,362 
971,957 
960,362 
7
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
163,273 
168,820 
Accrued income and prepayments
24,608 
19,106 
Other debtors
20,400 
20,400 
208,281 
208,326 
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Studiospares Europe Limited Notes to the Accounts for the year ended 31 December 2022
8
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
64,254 
160,154 
VAT
7,472 
41,814 
Trade creditors
458,300 
670,255 
Amounts owed to group undertakings and other participating interests
1,576,216 
1,010,636 
Taxes and social security
12,512 
10,371 
Other creditors
1,911 
77,397 
Loans from directors
309,330 
309,330 
Accruals
7,180 
5,300 
2,437,175 
2,285,257 
9
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
26,667 
36,667 
10
Average number of employees
During the year the average number of employees was 19 (2021: 18).
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