Registered number
06427835
Hacon Studio Ltd
Filleted Accounts
31 March 2023
Hacon Studio Ltd
Registered number: 06427835
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 123,663 126,141
Current assets
Cash at bank and in hand 8,948 745
Creditors: amounts falling due within one year 4 (720) (720)
Net current assets 8,228 25
Total assets less current liabilities 131,891 126,166
Creditors: amounts falling due after more than one year 5 (190,224) (190,224)
Provisions for liabilities (1,526) (1,526)
Net liabilities (59,859) (65,584)
Capital and reserves
Called up share capital 100 100
Profit and loss account (59,959) (65,684)
Shareholders' funds (59,859) (65,584)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Ng
Director
Approved by the board on 16 November 2023
Hacon Studio Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings N/A
Plant and machinery 25% reducing balance basis
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 116,228 116,599 232,827
Additions - - -
At 31 March 2023 116,228 116,599 232,827
Depreciation
At 1 April 2022 - 106,686 106,686
Charge for the year - 2,478 2,478
At 31 March 2023 - 109,164 109,164
Net book value
At 31 March 2023 116,228 7,435 123,663
At 31 March 2022 116,228 9,913 126,141
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - -
Other creditors 720 720
720 720
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 73,201 73,201
Director's loan account 117,023 117,023
190,224 190,224
6 Other information
Hacon Studio Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Davonshire House
582 Honeypotlane
Stanmore
HA3 1JS
Hacon Studio Ltd 06427835 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 K Ng No description of principal activity 06427835 2021-04-01 2022-03-31 06427835 core:WithinOneYear 2022-03-31 06427835 core:AfterOneYear 2022-03-31 06427835 core:ShareCapital 2022-03-31 06427835 core:RetainedEarningsAccumulatedLosses 2022-03-31 06427835 2022-04-01 2023-03-31 06427835 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06427835 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06427835 bus:Director40 2022-04-01 2023-03-31 06427835 1 2022-04-01 2023-03-31 06427835 2 2022-04-01 2023-03-31 06427835 core:LandBuildings 2022-04-01 2023-03-31 06427835 core:PlantMachinery 2022-04-01 2023-03-31 06427835 countries:England 2022-04-01 2023-03-31 06427835 bus:FRS102 2022-04-01 2023-03-31 06427835 bus:FullAccounts 2022-04-01 2023-03-31 06427835 2023-03-31 06427835 core:WithinOneYear 2023-03-31 06427835 core:AfterOneYear 2023-03-31 06427835 core:ShareCapital 2023-03-31 06427835 core:RetainedEarningsAccumulatedLosses 2023-03-31 06427835 core:LandBuildings 2023-03-31 06427835 core:PlantMachinery 2023-03-31 06427835 2022-03-31 06427835 core:LandBuildings 2022-03-31 06427835 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure