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Registration number: 06332919

Steelworks Dance & Performing Arts Studios Limited

Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Steelworks Dance & Performing Arts Studios Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Steelworks Dance & Performing Arts Studios Limited

(Registration number: 06332919)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

29,192

24,757

Current assets

 

Debtors

5

30,694

38,349

Cash at bank and in hand

 

17,342

34,449

 

48,036

72,798

Creditors: Amounts falling due within one year

6

(14,697)

(22,386)

Net current assets

 

33,339

50,412

Total assets less current liabilities

 

62,531

75,169

Creditors: Amounts falling due after more than one year

6

(17,042)

(26,633)

Provisions for liabilities

(2,532)

(1,476)

Net assets

 

42,957

47,060

Capital and reserves

 

Called up share capital

2

2

Retained earnings

42,955

47,058

Shareholders' funds

 

42,957

47,060

 

Steelworks Dance & Performing Arts Studios Limited

(Registration number: 06332919)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 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 year in question in accordance with section 476; and

The director acknowledges his 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 27 January 2024
 

.........................................
Mr Paul Richard Steel
Director

 

Steelworks Dance & Performing Arts Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Masterson Street
Fenton
Stoke On Trent
Staffordshire
ST4 3QA

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

Steelworks Dance & Performing Arts Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Any amounts outstanding at the year end will be included within other debtors.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Property improvements

not being depreciated in order to show a true and fair view

Fixtures and fittings

10% reducing balance basis

Computer equipment

20% reducing balance basis

Show equipment

10% reducing balance basis

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 4).

 

Steelworks Dance & Performing Arts Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Property improvements
£

Fixtures and fittings
£

Computer equipment
£

Show equipment
£

Total
£

Cost or valuation

At 1 September 2022

10,742

16,398

3,347

644

31,131

Additions

-

6,700

-

-

6,700

At 31 August 2023

10,742

23,098

3,347

644

37,831

Depreciation

At 1 September 2022

-

4,859

1,419

96

6,374

Charge for the year

-

1,825

385

55

2,265

At 31 August 2023

-

6,684

1,804

151

8,639

Carrying amount

At 31 August 2023

10,742

16,414

1,543

493

29,192

At 31 August 2022

10,742

11,539

1,928

548

24,757

 

Steelworks Dance & Performing Arts Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

2023
£

2022
£

Other debtors

30,694

38,349

30,694

38,349

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9,400

9,400

Taxation and social security

 

-

553

Accruals and deferred income

 

1,380

6,630

Other creditors

 

3,917

5,803

 

14,697

22,386

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

17,042

26,633