2022-05-012023-04-302023-04-30false10475435HUGECALF STUDIOS 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HUGECALF STUDIOS LTD

Registered Number
10475435
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

HUGECALF STUDIOS LTD
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

HUGHES, Jonathan Robert
HUGHES, William David
METCALFE, Andrew Richard

Registered Address

12 Nell Lane
Manchester
M21 7UD

Registered Number

10475435 (England and Wales)
HUGECALF STUDIOS LTD
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets55,0433,050
Investments61-
5,0443,050
Current assets
Debtors7218,9679,558
Cash at bank and on hand1,954,670477,445
2,173,637487,003
Creditors amounts falling due within one year8(317,741)(204,975)
Net current assets (liabilities)1,855,896282,028
Total assets less current liabilities1,860,940285,078
Creditors amounts falling due after one year9(25,833)-
Provisions for liabilities10(1,015)(549)
Net assets1,834,092284,529
Capital and reserves
Called up share capital33
Profit and loss account1,834,089284,526
Shareholders' funds1,834,092284,529
The financial statements were approved and authorised for issue by the Board of Directors on 9 November 2023, and are signed on its behalf by:
HUGHES, Jonathan Robert
Director
Registered Company No. 10475435
HUGECALF STUDIOS LTD
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 May 227,4987,498
Additions2,9722,972
At 30 April 2310,47010,470
Depreciation and impairment
At 01 May 224,4484,448
Charge for year979979
At 30 April 235,4275,427
Net book value
At 30 April 235,0435,043
At 30 April 223,0503,050
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions11
At 30 April 2311
Net book value
At 30 April 2311
At 30 April 22--

Notes

1Investments in group undertakings and participating interests
7.Debtors

2023

2022

££
Amounts owed by group undertakings211,682-
Amounts owed by associates and joint ventures / participating interests1,5457,782
Other debtors5,7401,776
Total218,9679,558
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts10,00145,833
Amounts owed to related parties1,96146,850
Taxation and social security301,976109,793
Other creditors1,22048
Accrued liabilities and deferred income2,5832,451
Total317,741204,975
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts25,833-
Total25,833-
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,015549
Total1,015549