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Registration number: 14384067

Rose Pilkington Studio Limited

Annual Report and Unaudited Financial Statements

for the Period from 28 September 2022 to 30 September 2023

 

Rose Pilkington Studio Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Rose Pilkington Studio Limited

Company Information

Director

Miss R T Pilkington

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Rose Pilkington Studio Limited

(Registration number: 14384067)
Balance Sheet as at 30 September 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

9,840

Tangible assets

5

3,081

 

12,921

Current assets

 

Debtors

6

5,128

Cash at bank and in hand

 

26,757

 

31,885

Creditors: Amounts falling due within one year

7

(31,470)

Net current assets

 

415

Total assets less current liabilities

 

13,336

Creditors: Amounts falling due after more than one year

7

(4,764)

Net assets

 

8,572

Capital and reserves

 

Called up share capital

100

Retained earnings

8,472

Shareholders' funds

 

8,572

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 March 2024
 

.........................................
Miss R T Pilkington
Director

 

Rose Pilkington Studio Limited

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS
England

These financial statements were authorised for issue by the director on 23 March 2024.

The company registration number is 14384067

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rose Pilkington Studio Limited

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Goodwill

Goodwill is the difference between fair value of consideration paid for an acquired entity and the aggregate of the fair value of that's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Rose Pilkington Studio Limited

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

12,300

12,300

At 30 September 2023

12,300

12,300

Amortisation

Amortisation charge

2,460

2,460

At 30 September 2023

2,460

2,460

Carrying amount

At 30 September 2023

9,840

9,840

 

Rose Pilkington Studio Limited

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 30 September 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

4,598

4,598

At 30 September 2023

4,598

4,598

Depreciation

Charge for the period

1,517

1,517

At 30 September 2023

1,517

1,517

Carrying amount

At 30 September 2023

3,081

3,081

6

Debtors

Current

2023
£

Trade debtors

5,128

 

5,128

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

30,768

Accruals and deferred income

702

31,470

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

9

4,764

 

Rose Pilkington Studio Limited

Notes to the Unaudited Financial Statements for the Period from 28 September 2022 to 30 September 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     

9

Loans and borrowings

2023
£

Non-current loans and borrowings

Other borrowings

4,764