1 July 2022 false No description of principal activity Taxfiler 2023.14 10240168business:PrivateLimitedCompanyLtd2022-07-012023-06-30 102401682022-06-30 102401682022-07-012023-06-30 10240168business:AuditExemptWithAccountantsReport2022-07-012023-06-30 10240168business:FilletedAccounts2022-07-012023-06-30 102401682023-06-30 10240168business:Director12022-07-012023-06-30 10240168business:Director22022-07-012023-06-30 10240168business:RegisteredOffice2022-07-012023-06-30 102401682022-06-30 10240168core:WithinOneYear2023-06-30 10240168core:WithinOneYear2022-06-30 10240168core:AfterOneYear2023-06-30 10240168core:AfterOneYear2022-06-30 10240168core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 10240168core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 10240168core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 10240168core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 10240168core:PreviouslyStatedAmount2023-06-30 10240168core:PreviouslyStatedAmount2022-06-30 10240168business:SmallEntities2022-07-012023-06-30 10240168countries:EnglandWales2022-07-012023-06-30 10240168core:ComputerEquipment2022-07-012023-06-30 10240168core:ComputerEquipment2022-06-30 10240168core:ComputerEquipment2023-06-30 10240168business:OrdinaryShareClass12022-07-012023-06-30 10240168business:OrdinaryShareClass12021-07-012022-06-30 10240168business:OrdinaryShareClass22022-07-012023-06-30 10240168business:OrdinaryShareClass22021-07-012022-06-30 10240168business:OrdinaryShareClass32022-07-012023-06-30 10240168business:OrdinaryShareClass32021-07-012022-06-30 10240168business:OrdinaryShareClass42022-07-012023-06-30 10240168business:OrdinaryShareClass42021-07-012022-06-30 10240168business:OrdinaryShareClass52022-07-012023-06-30 10240168business:OrdinaryShareClass52021-07-012022-06-30 10240168business:AllOrdinaryShares2022-07-012023-06-30 10240168business:AllOrdinaryShares2021-07-012022-06-30 102401682021-07-012022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10240168 (England and Wales)
Youth Studio Limited Unaudited accounts for the year ended 30 June 2023
Youth Studio Limited Unaudited accounts Contents
Page
- 2 -
Youth Studio Limited Company Information for the year ended 30 June 2023
Directors
O Collinge L McGroarty
Company Number
10240168 (England and Wales)
Registered Office
51 Hilton Street Manchester M1 2EF England
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
- 3 -
Youth Studio Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,858 
7,336 
Current assets
Debtors
138,098 
129,072 
Cash at bank and in hand
299,027 
333,187 
437,125 
462,259 
Creditors: amounts falling due within one year
(121,628)
(136,875)
Net current assets
315,497 
325,384 
Total assets less current liabilities
321,355 
332,720 
Creditors: amounts falling due after more than one year
- 
(357)
Net assets
321,355 
332,363 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
321,255 
332,263 
Shareholders' funds
321,355 
332,363 
For the year ending 30 June 2023 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 2 November 2023 and were signed on its behalf by
L McGroarty Director Company Registration No. 10240168
- 4 -
Youth Studio Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Youth Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 10240168. The registered office is 51 Hilton Street, Manchester, M1 2EF, England.
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:
Computer equipment
25% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current and deferred tax assets and liabilities are not discounted.
- 5 -
Youth Studio Limited Notes to the Accounts for the year ended 30 June 2023
Hire purchase and leasing committments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2022
22,686 
Additions
1,911 
At 30 June 2023
24,597 
Depreciation
At 1 July 2022
15,350 
Charge for the year
3,389 
At 30 June 2023
18,739 
Net book value
At 30 June 2023
5,858 
At 30 June 2022
7,336 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
68,687 
65,352 
Accrued income and prepayments
6,482 
971 
Other debtors
62,929 
62,749 
138,098 
129,072 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
320 
904 
Trade creditors
11,939 
1,283 
Taxes and social security
33,798 
54,071 
Other creditors
446 
920 
Loans from directors
75,125 
79,697 
121,628 
136,875 
- 6 -
Youth Studio Limited Notes to the Accounts for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
357 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
96 Ordinary shares of £1 each
96 
96 
1 Ordinary A shares of £1 each
1 
1 
1 Ordinary B shares of £1 each
1 
1 
1 Ordinary C shares of £1 each
1 
1 
1 Ordinary D shares of £1 each
1 
1 
100 
100 
9
Transactions with related parties
The company is related to Cross Keys Developments Ltd by virtue of common shareholders and directors. The amount owed from Cross Keys Developments Ltd at the balance sheet date was £60,180 (2022 £60,000).
10
Average number of employees
During the year the average number of employees was 5 (2022: 6).
- 7 -