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Registered number: 07722911
Arpa Studio Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 07722911
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,068 4,864
8,068 4,864
CURRENT ASSETS
Debtors 6 49 6,143
Cash at bank and in hand 26,568 75,774
26,617 81,917
Creditors: Amounts Falling Due Within One Year 7 (3,842 ) (3,728 )
NET CURRENT ASSETS (LIABILITIES) 22,775 78,189
TOTAL ASSETS LESS CURRENT LIABILITIES 30,843 83,053
NET ASSETS 30,843 83,053
CAPITAL AND RESERVES
Called up share capital 8 2 2
Income Statement 30,841 83,051
SHAREHOLDERS' FUNDS 30,843 83,053
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Ms Jasmine Raznahan
Director
22 April 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Arpa Studio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07722911 . The registered office is 1 Mountview Court, 310 Friern Barnet Lane, London, N20 0BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible asset relates to website. It is amortised to income statement over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 17% Straight Line
Fixtures & Fittings 17% Straight Line
Computer Equipment 17% Straight Line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
Page 2
Page 3
4. Intangible Assets
Other
£
Cost
As at 1 August 2022 63,000
As at 31 July 2023 63,000
Amortisation
As at 1 August 2022 63,000
As at 31 July 2023 63,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 1,235 16,954 5,409 23,598
Additions - 6,457 - 6,457
Disposals - (200 ) - (200 )
As at 31 July 2023 1,235 23,211 5,409 29,855
Depreciation
As at 1 August 2022 1,235 14,040 3,459 18,734
Provided during the period - 2,771 482 3,253
Disposals - (200 ) - (200 )
As at 31 July 2023 1,235 16,611 3,941 21,787
Net Book Value
As at 31 July 2023 - 6,600 1,468 8,068
As at 1 August 2022 - 2,914 1,950 4,864
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 49 1
Corporation tax recoverable assets - 4,927
Director's loan account - 1,215
49 6,143
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 12 -
VAT 778 2,183
Net wages - 732
Accruals and deferred income 521 813
Director's loan account 2,531 -
3,842 3,728
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4