IRIS Accounts Production v23.3.1.45 11578297 director 1.5.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure115782972022-04-30115782972023-03-31115782972022-05-012023-03-31115782972021-04-30115782972021-05-012022-04-30115782972022-04-3011578297ns16:EnglandWales2022-05-012023-03-3111578297ns15:PoundSterling2022-05-012023-03-3111578297ns11:Director12022-05-012023-03-3111578297ns11:PrivateLimitedCompanyLtd2022-05-012023-03-3111578297ns11:SmallEntities2022-05-012023-03-3111578297ns11:AuditExempt-NoAccountantsReport2022-05-012023-03-3111578297ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-03-3111578297ns11:SmallCompaniesRegimeForAccounts2022-05-012023-03-3111578297ns11:FullAccounts2022-05-012023-03-3111578297ns11:RegisteredOffice2022-05-012023-03-3111578297ns6:CurrentFinancialInstruments2023-03-3111578297ns6:CurrentFinancialInstruments2022-04-3011578297ns6:ShareCapital2023-03-3111578297ns6:ShareCapital2022-04-3011578297ns6:RetainedEarningsAccumulatedLosses2023-03-3111578297ns6:RetainedEarningsAccumulatedLosses2022-04-3011578297ns6:PlantMachinery2022-05-012023-03-3111578297ns6:PlantMachinery2022-04-3011578297ns6:PlantMachinery2023-03-3111578297ns6:PlantMachinery2022-04-3011578297ns6:CostValuation2022-04-3011578297ns6:AdditionsToInvestments2023-03-3111578297ns6:CostValuation2023-03-3111578297ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3111578297ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3011578297ns11:Director112022-04-3011578297ns11:Director112021-04-3011578297ns11:Director112022-05-012023-03-3111578297ns11:Director112021-05-012022-04-3011578297ns11:Director112023-03-3111578297ns11:Director112022-04-30
REGISTERED NUMBER: 11578297 (England and Wales)















Unaudited Financial Statements

for the Period 1 May 2022 to 31 March 2023

for

Studio Misfit Limited

Studio Misfit Limited (Registered number: 11578297)






Contents of the Financial Statements
for the Period 1 May 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Studio Misfit Limited

Company Information
for the Period 1 May 2022 to 31 March 2023







DIRECTOR: Ms J White





REGISTERED OFFICE: 483 Green Lanes
London
London
N13 4BS





REGISTERED NUMBER: 11578297 (England and Wales)





ACCOUNTANTS: Friends.Tax LLP
Pippins
Cherry Drive
Forty Green
Beaconsfield
Buckinghamshire
HP9 1XP

Studio Misfit Limited (Registered number: 11578297)

Balance Sheet
31 March 2023

31.3.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,840 2,919
Investments 5 73,665 39,511
79,505 42,430

CURRENT ASSETS
Debtors 6 257,386 164,997
Cash at bank 177,191 141,267
434,577 306,264
CREDITORS
Amounts falling due within one year 7 410,692 215,714
NET CURRENT ASSETS 23,885 90,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,390

132,980

CAPITAL AND RESERVES
Called up share capital 133 133
Retained earnings 103,257 132,847
103,390 132,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Studio Misfit Limited (Registered number: 11578297)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





Ms J White - Director


Studio Misfit Limited (Registered number: 11578297)

Notes to the Financial Statements
for the Period 1 May 2022 to 31 March 2023

1. STATUTORY INFORMATION

Studio Misfit Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% - 33.3% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102

Studio Misfit Limited (Registered number: 11578297)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 5,492
Additions 5,564
At 31 March 2023 11,056
DEPRECIATION
At 1 May 2022 2,573
Charge for period 2,643
At 31 March 2023 5,216
NET BOOK VALUE
At 31 March 2023 5,840
At 30 April 2022 2,919

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2022 39,511
Additions 34,154
At 31 March 2023 73,665
NET BOOK VALUE
At 31 March 2023 73,665
At 30 April 2022 39,511

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.4.22
£    £   
Trade debtors 107,392 106,440
Other debtors 149,994 58,557
257,386 164,997

Studio Misfit Limited (Registered number: 11578297)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.4.22
£    £   
Trade creditors 236,745 180,300
Taxation and social security 22,692 25,952
Other creditors 151,255 9,462
410,692 215,714

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2023 and the year ended 30 April 2022:

31.3.23 30.4.22
£    £   
Ms J White
Balance outstanding at start of period - -
Amounts advanced 14,569 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 14,569 -

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms J White.