Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-301false2022-05-01No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08986585 2022-05-01 2023-04-30 08986585 2021-05-01 2022-04-30 08986585 2023-04-30 08986585 2022-04-30 08986585 c:Director1 2022-05-01 2023-04-30 08986585 d:FurnitureFittings 2022-05-01 2023-04-30 08986585 d:FurnitureFittings 2023-04-30 08986585 d:FurnitureFittings 2022-04-30 08986585 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 08986585 d:CurrentFinancialInstruments 2023-04-30 08986585 d:CurrentFinancialInstruments 2022-04-30 08986585 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08986585 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 08986585 d:ShareCapital 2023-04-30 08986585 d:ShareCapital 2022-04-30 08986585 d:RetainedEarningsAccumulatedLosses 2023-04-30 08986585 d:RetainedEarningsAccumulatedLosses 2022-04-30 08986585 c:OrdinaryShareClass1 2022-05-01 2023-04-30 08986585 c:OrdinaryShareClass1 2023-04-30 08986585 c:OrdinaryShareClass1 2022-04-30 08986585 c:FRS102 2022-05-01 2023-04-30 08986585 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 08986585 c:FullAccounts 2022-05-01 2023-04-30 08986585 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 08986585 2 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 08986585












STUDIO KILLERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


REGISTERED NUMBER:08986585
STUDIO KILLERS LIMITED

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
1,015
1,269

  
1,015
1,269

Current assets
  

Debtors: amounts falling due within one year
 5 
5,008
6,208

Cash at bank and in hand
  
26,215
13,464

  
31,223
19,672

Creditors: amounts falling due within one year
 6 
(11,170)
(3,750)

Net current assets
  
 
 
20,053
 
 
15,922

Total assets less current liabilities
  
21,068
17,191

  

Net assets
  
21,068
17,191


Capital and reserves
  

Called up share capital 
 7 
4
4

Profit and loss account
  
21,064
17,187

Total equity
  
21,068
17,191



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REGISTERED NUMBER:08986585
STUDIO KILLERS LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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, authorised for issue and signed by the sole director. 12 March 2024.


P Larsen
Director

The notes on pages 3 to 8 form part of these financial statements.


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STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Studio Killers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.

The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

  
2.3

Revenue

Revenue represents amounts receivable for services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.  Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.


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STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary share or options are shown in equity as a deduction, net of tax, from the proceeds. 


2.8

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 


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STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.


- 5 -




STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

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


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STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
2,453



At 30 April 2023

2,453



Depreciation


At 1 May 2022
1,184


Charge for the year on owned assets
254



At 30 April 2023

1,438



Net book value



At 30 April 2023
1,015



At 30 April 2022
1,269


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STUDIO KILLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Debtors

2023
2022
£
£


Other debtors
5,008
5,329

Tax recoverable
-
879

5,008
6,208



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
7,045
-

Accruals and deferred income
4,125
3,750

11,170
3,750



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4


 

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