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COMPANY REGISTRATION NUMBER: 13706628
Wild Spot Studio Limited
Filleted Unaudited Abridged Financial Statements
31 October 2023
Wild Spot Studio Limited
Abridged Financial Statements
Year ended 31 October 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Wild Spot Studio Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
(restated)
Note
£
£
Current assets
Stocks
400
Cash at bank and in hand
96
755
----
----
496
755
Creditors: amounts falling due within one year
3,264
2,120
-------
-------
Net current liabilities
2,768
1,365
-------
-------
Total assets less current liabilities
( 2,768)
( 1,365)
-------
-------
Net liabilities
( 2,768)
( 1,365)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,868)
( 1,465)
-------
-------
Shareholders deficit
( 2,768)
( 1,365)
-------
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 October 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Wild Spot Studio Limited
Abridged Statement of Financial Position (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
Ms S Robb-Eadie
Director
Company registration number: 13706628
Wild Spot Studio Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Gloucestershire, GL51 6TQ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for at least 12 months from signing these accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Prior period errors
During the preparation of the accounts it was noted that share capital had erroneously been excluded from the accounts and therefore the accounts have been restated to include this.
5. Directors' advances, credits and guarantees
The director advanced a loan to the company of £2,664 during the year (2022 - £1,400).