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REGISTERED NUMBER: 09819606 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

WOOD ART STUDIO LIMITED

WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


WOOD ART STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A Bergs
T Richardson





REGISTERED OFFICE: Unit 8
Twydale Business Park
Skerne Road
Driffield
E. Yorks
YO25 6JX





REGISTERED NUMBER: 09819606 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,690 485

CURRENT ASSETS
Stocks 4,256 3,123
Debtors 5 65,330 49,793
Cash at bank 5,005 9,377
74,591 62,293
CREDITORS
Amounts falling due within one year 6 38,681 36,215
NET CURRENT ASSETS 35,910 26,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,600

26,563

PROVISIONS FOR LIABILITIES 289 92
NET ASSETS 37,311 26,471

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,211 26,371
SHAREHOLDERS' FUNDS 37,311 26,471

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

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

The directors acknowledge their 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.

WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)

BALANCE SHEET - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




T Richardson - Director



A Bergs - Director


WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Wood Art Studio 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 - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

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.

WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machiner
etc
£   
COST
At 1 November 2022 65,544
Additions 1,887
At 31 October 2023 67,431
DEPRECIATION
At 1 November 2022 65,059
Charge for year 682
At 31 October 2023 65,741
NET BOOK VALUE
At 31 October 2023 1,690
At 31 October 2022 485

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,927 11,010
Directors' current accounts 51,430 36,923
VAT - 302
Prepayments and accrued income 1,973 1,558
65,330 49,793

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,610 5,035
Tax 6,997 9,080
Social security and other taxes 315 291
VAT 2,387 -
Other creditors 1,462 -
Accrued expenses 21,910 21,809
38,681 36,215

WOOD ART STUDIO LIMITED (REGISTERED NUMBER: 09819606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
T Richardson
Balance outstanding at start of year 18,778 9,508
Amounts advanced 32,260 21,372
Amounts repaid (25,529 ) (12,102 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,509 18,778

A Bergs
Balance outstanding at start of year 18,145 8,728
Amounts advanced 33,910 21,232
Amounts repaid (26,134 ) (11,815 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,921 18,145