Acorah Software Products - Accounts Production 15.0.500 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 SC603726 Miss Caterina Bianchini Mr Joseph Osborne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC603726 2022-07-31 SC603726 2023-07-31 SC603726 2022-08-01 2023-07-31 SC603726 frs-core:CurrentFinancialInstruments 2023-07-31 SC603726 frs-core:ComputerEquipment 2023-07-31 SC603726 frs-core:ComputerEquipment 2022-08-01 2023-07-31 SC603726 frs-core:ComputerEquipment 2022-07-31 SC603726 frs-core:FurnitureFittings 2023-07-31 SC603726 frs-core:FurnitureFittings 2022-08-01 2023-07-31 SC603726 frs-core:FurnitureFittings 2022-07-31 SC603726 frs-core:MotorVehicles 2023-07-31 SC603726 frs-core:MotorVehicles 2022-08-01 2023-07-31 SC603726 frs-core:MotorVehicles 2022-07-31 SC603726 frs-core:ShareCapital 2023-07-31 SC603726 frs-core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 SC603726 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC603726 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC603726 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 SC603726 frs-bus:SmallEntities 2022-08-01 2023-07-31 SC603726 frs-bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC603726 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC603726 frs-core:UnlistedNon-exchangeTraded 2023-07-31 SC603726 frs-core:UnlistedNon-exchangeTraded 2022-07-31 SC603726 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-07-31 SC603726 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-07-31 SC603726 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-07-31 SC603726 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-07-31 SC603726 frs-bus:Director1 2022-08-01 2023-07-31 SC603726 frs-bus:Director2 2022-08-01 2023-07-31 SC603726 frs-core:CurrentFinancialInstruments 1 2023-07-31 SC603726 frs-core:CurrentFinancialInstruments 2 2023-07-31 SC603726 frs-countries:Scotland 2022-08-01 2023-07-31 SC603726 2021-07-31 SC603726 2022-07-31 SC603726 2021-08-01 2022-07-31 SC603726 frs-core:CurrentFinancialInstruments 2022-07-31 SC603726 frs-core:ShareCapital 2021-07-31 SC603726 frs-core:ShareCapital 2022-07-31 SC603726 frs-core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 SC603726 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-07-31 SC603726 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 SC603726 frs-core:CurrentFinancialInstruments 1 2022-07-31 SC603726 frs-core:CurrentFinancialInstruments 2 2022-07-31
Registered number: SC603726
Studio Nari Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Sutherland Black
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Studio Nari Ltd for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Studio Nari Ltd for the year ended 31 July 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.org.uk/accountspreparationguidance.
This report is made solely to the directors of Studio Nari Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Studio Nari Ltd and state those matters that we have agreed to state to the directors of Studio Nari Ltd , as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Studio Nari Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Studio Nari Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Studio Nari Ltd . You consider that Studio Nari Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Studio Nari Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
22/04/2024
Sutherland Black
Chartered Accountant
8 Deer Park Avenue
Livingston
West Lothian
EH54 8GA
Page 1
Page 2
Balance Sheet
Registered number: SC603726
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,969 49,555
Investments 5 53,000 53,000
89,969 102,555
CURRENT ASSETS
Debtors 6 115,596 135,058
Cash at bank and in hand 418,633 759,482
534,229 894,540
Creditors: Amounts Falling Due Within One Year 7 (443,014 ) (640,354 )
NET CURRENT ASSETS (LIABILITIES) 91,215 254,186
TOTAL ASSETS LESS CURRENT LIABILITIES 181,184 356,741
NET ASSETS 181,184 356,741
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 181,182 356,739
SHAREHOLDERS' FUNDS 181,184 356,741
Page 2
Page 3
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mr Joseph Osborne
Director
22/04/2024
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2021 2 80,310 80,312
Profit for the year and total comprehensive income - 421,429 421,429
Dividends paid - (145,000) (145,000)
As at 31 July 2022 and 1 August 2022 2 356,739 356,741
Loss for the year and total comprehensive income - (44,557 ) (44,557)
Dividends paid - (131,000) (131,000)
As at 31 July 2023 2 181,182 181,184
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Studio Nari Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC603726 . The registered office is 105 Netil House, 1 Westgate Street, London, E8 3RL.
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. 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:
Motor Vehicles 25% on WDV
Fixtures & Fittings 25% on WDV
Computer Equipment 33.33% on WDV
2.4. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 5
Page 6
2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 9 4
9 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 29,800 952 22,895 53,647
Additions - - 1,966 1,966
As at 31 July 2023 29,800 952 24,861 55,613
Depreciation
As at 1 August 2022 621 641 2,830 4,092
Provided during the period 7,295 78 7,179 14,552
As at 31 July 2023 7,916 719 10,009 18,644
Net Book Value
As at 31 July 2023 21,884 233 14,852 36,969
As at 1 August 2022 29,179 311 20,065 49,555
Page 6
Page 7
5. Investments
Unlisted
£
Cost
As at 1 August 2022 53,000
As at 31 July 2023 53,000
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 53,000
As at 1 August 2022 53,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 101,191 69,307
Prepayments and accrued income 9,200 25,900
VAT 5,205 39,851
115,596 135,058
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,000 20,335
Bank loans and overdrafts - 50
Corporation tax 75,434 90,296
Other taxes and social security 48,166 27,880
Pension payable 1,360 1,261
Income in Advance 307,397 500,000
Accruals and deferred income 6,640 -
Directors' loan accounts 1,017 532
443,014 640,354
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 7