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REGISTERED NUMBER: 03808630 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

PLOUGH STUDIOS LIMITED

PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLOUGH STUDIOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: T J Edwards





SECRETARY: L E Edwards





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 03808630 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 23,166 31,467

CURRENT ASSETS
Debtors 5 12,680 14,120
Cash at bank 569 5,787
13,249 19,907
CREDITORS
Amounts falling due within one year 6 (35,111 ) (31,958 )
NET CURRENT LIABILITIES (21,862 ) (12,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,304

19,416

CREDITORS
Amounts falling due after more than one year 7 (7,334 ) (11,333 )
NET (LIABILITIES)/ASSETS (6,030 ) 8,083

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (6,130 ) 7,983
SHAREHOLDERS' FUNDS (6,030 ) 8,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

BALANCE SHEET - continued
31 JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2024 and were signed by:





T J Edwards - Director


PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Plough Studios Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales for services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on cost
Fixtures and fittings - 15% on cost
Photography equipment - 20% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Photography
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 30,958 85,127 3,846 119,931
DEPRECIATION
At 1 August 2022 28,601 58,029 1,834 88,464
Charge for year 1,548 6,350 403 8,301
At 31 July 2023 30,149 64,379 2,237 96,765
NET BOOK VALUE
At 31 July 2023 809 20,748 1,609 23,166
At 31 July 2022 2,357 27,098 2,012 31,467

PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 7,380 8,820
Other debtors 5,300 5,300
12,680 14,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 15,027 15,344
Trade creditors 2,146 248
Taxation and social security 5,073 4,796
Other creditors 12,865 11,570
35,111 31,958

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 7,334 11,333

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 55,000 55,000
Between one and five years 36,667 91,667
91,667 146,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Factor advances 5,844 3,792

Factor advances are secured by a fixed charge over the book debts of the company.

PLOUGH STUDIOS LIMITED (REGISTERED NUMBER: 03808630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
76 Ordinary-A £1 76 76
24 Ordinary-B £1 24 24
100 100

11. RELATED PARTY DISCLOSURES

The company's other loan facility has been personally guaranteed by the director T J Edwards.