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Registered number: 12528985
March Studio Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12528985
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,110 2,879
2,110 2,879
CURRENT ASSETS
Debtors 5 15,511 19,898
Cash at bank and in hand 29,297 17,247
44,808 37,145
Creditors: Amounts Falling Due Within One Year 6 (12,029 ) (11,969 )
NET CURRENT ASSETS (LIABILITIES) 32,779 25,176
TOTAL ASSETS LESS CURRENT LIABILITIES 34,889 28,055
PROVISIONS FOR LIABILITIES
Deferred Taxation - (547 )
NET ASSETS 34,889 27,508
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 34,789 27,408
SHAREHOLDERS' FUNDS 34,889 27,508
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Emma March
Director
9th April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
March Studio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12528985 . The registered office is 50 Thanet Road, Margate, Kent, CT9 1UB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of design services of project management services and reimbursable expenses. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. When the contract is considered concluded, a tax invoice is produced and the revenue becomes recognised. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 years, straight line
Office Equipment 40%, reducing balance
Computer Equipment 5 years, straight line
Assets considered to fully lose their value in their year of acquisition are fully depreciated at acquisition.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Office Equipment Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 172 65 3,516 3,753
Additions - 44 - 44
As at 31 March 2024 172 109 3,516 3,797
...CONTINUED
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Page 4
Depreciation
As at 1 April 2023 34 - 840 874
Provided during the period 58 70 685 813
As at 31 March 2024 92 70 1,525 1,687
Net Book Value
As at 31 March 2024 80 39 1,991 2,110
As at 1 April 2023 138 65 2,676 2,879
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,167 19,379
Prepayments and accrued income 200 200
Director's loan account 144 319
15,511 19,898
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 11,484 7,323
Other taxes and social security - 99
Accruals and deferred income 545 547
Director's loan account - 4,000
12,029 11,969
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mrs Emma March - 1,180 1,036 - 144
The above loan is unsecured, interest free and was repaid post year end. 
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