Company Registration No. 12076243 (England and Wales)
Sarah Denise Studio Ltd
Unaudited accounts
for the year ended 31 July 2023
Sarah Denise Studio Ltd
Unaudited accounts
Contents
Sarah Denise Studio Ltd
Company Information
for the year ended 31 July 2023
Director
Sarah Denise Cordery
Company Number
12076243 (England and Wales)
Registered Office
95 Cheltenham Road
Stockport
Cheshire
SK3 OSL
United Kingdom
Accountants
Whyatt Accountancy
Stockport Business & Innovation Centre
Broadstone Mill, Broadstone Road
Stockport
Cheshire
SK5 7DL
Sarah Denise Studio Ltd
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
7,515
38,085
Creditors: amounts falling due within one year
(5,078)
(14,422)
Net current assets
24,880
24,579
Total assets less current liabilities
26,258
25,723
Creditors: amounts falling due after more than one year
(3,982)
(5,985)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
22,073
19,588
Shareholders' funds
22,074
19,589
For the year ending 31 July 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 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 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 and authorised for issue on 3 April 2024 and were signed on its behalf by
Sarah Denise Cordery
Director
Company Registration No. 12076243
Sarah Denise Studio Ltd
Notes to the Accounts
for the year ended 31 July 2023
Sarah Denise Studio Ltd is a private company, limited by shares, registered in England and Wales, registration number 12076243. The registered office is 95 Cheltenham Road, Stockport, Cheshire, SK3 OSL, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
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.
Intangible fixed assets - trademarks
Intangible fixed assets are included at cost less accumulated amortisation.
Trademarks are amortised in equal annual instalments over a period of 10 years, which is their estimated useful economic life. Provision is made for any impairment.
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:
Plant & machinery
over 3-5 years straight line basis
Fixtures & fittings
over 3-5 years straight line basis
Computer equipment
over 3-5 years straight line basis
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Sarah Denise Studio Ltd
Notes to the Accounts
for the year ended 31 July 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
Deferred tax assets and liabilities are not discounted.
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.
4
Intangible fixed assets
Other
Intangible fixed assets above are trademarks acquired during the year ended 31 July 2021. The cost is being amortised in equal annual instalments over a period of 10 years. Amortisation charged to the Income Statement, within administrative expenses, in the year is £45 (2022: £45).
Sarah Denise Studio Ltd
Notes to the Accounts
for the year ended 31 July 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
2,405
176
5,655
8,236
At 31 July 2023
2,429
491
6,137
9,057
At 1 August 2022
1,947
105
5,400
7,452
Charge for the year
210
93
239
542
At 31 July 2023
2,157
198
5,639
7,994
At 31 July 2023
272
293
498
1,063
At 31 July 2022
458
71
255
784
Amounts falling due within one year
Accrued income and prepayments
21,276
216
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,002
1,953
Taxes and social security
2,778
5,705
Loans from directors
53
5,840
8
Creditors: amounts falling due after more than one year
2023
2022
No security has been granted for the bank loans at 31 July 2023 (31 July 2022: none).
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).