Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31false1true2022-08-01No description of principal activity1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12727367 2022-08-01 2023-07-31 12727367 2021-08-01 2022-07-31 12727367 2023-07-31 12727367 2022-07-31 12727367 c:Director1 2022-08-01 2023-07-31 12727367 d:CurrentFinancialInstruments 2023-07-31 12727367 d:CurrentFinancialInstruments 2022-07-31 12727367 d:Non-currentFinancialInstruments 2023-07-31 12727367 d:Non-currentFinancialInstruments 2022-07-31 12727367 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12727367 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12727367 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 12727367 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 12727367 d:ShareCapital 2023-07-31 12727367 d:ShareCapital 2022-07-31 12727367 d:RetainedEarningsAccumulatedLosses 2023-07-31 12727367 d:RetainedEarningsAccumulatedLosses 2022-07-31 12727367 c:FRS102 2022-08-01 2023-07-31 12727367 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12727367 c:FullAccounts 2022-08-01 2023-07-31 12727367 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 12727367









NAGEL STUDIO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
NAGEL STUDIO LTD
REGISTERED NUMBER: 12727367

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
-
66,867

Debtors: amounts falling due within one year
 4 
3,240
38,420

Cash at bank and in hand
 5 
3
4,043

  
3,243
109,330

Creditors: amounts falling due within one year
 6 
(6,377)
(26,579)

Net current (liabilities)/assets
  
 
 
(3,134)
 
 
82,751

Total assets less current liabilities
  
(3,134)
82,751

Creditors: amounts falling due after more than one year
 7 
-
(85,300)

  

Net liabilities
  
(3,134)
(2,549)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(3,234)
(2,649)

  
(3,134)
(2,549)


Page 1

 
NAGEL STUDIO LTD
REGISTERED NUMBER: 12727367
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C Nagel
Director

Date: 23 April 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
NAGEL STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Nagel Studio Ltd is a private company limited by shares. The company is incorporated in England and Wales and the address of the registered office is Aston House, Cornwall Avenue, London N3 1LF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NAGEL STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt
Page 4

 
NAGEL STUDIO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Trade debtors
-
25,000

Other debtors
3,240
13,420

3,240
38,420



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3
4,043



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
5,177
25,304

Accruals and deferred income
1,200
1,275

6,377
26,579



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
-
85,300


Page 5

 
NAGEL STUDIO LTD
 
 
 Page 6