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Company Registration No. 12024832 (England and Wales)
Dom James Studio Ltd Unaudited accounts for the year ended 31 May 2024
Dom James Studio Ltd Unaudited accounts Contents
Page
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Dom James Studio Ltd Company Information for the year ended 31 May 2024
Director
D E J Passmore
Company Number
12024832 (England and Wales)
Registered Office
18 Richmond Road Horsham West Sussex RH12 2EG United Kingdom
Accountants
Townley & Co Limited Warrington Business Centre 67 Bewsey Street Warrington WA2 7JQ
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Dom James Studio Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,934 
- 
Current assets
Debtors
24,895 
780 
Cash at bank and in hand
49,798 
96,043 
74,693 
96,823 
Creditors: amounts falling due within one year
(42,488)
(32,509)
Net current assets
32,205 
64,314 
Net assets
45,139 
64,314 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
45,039 
64,214 
Shareholders' funds
45,139 
64,314 
For the year ending 31 May 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 August 2024 and were signed on its behalf by
D E J Passmore Director Company Registration No. 12024832
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Dom James Studio Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Dom James Studio Ltd is a private company, limited by shares, registered in England and Wales, registration number 12024832. The registered office is 18 Richmond Road, Horsham, West Sussex, RH12 2EG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance basis
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Dom James Studio Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
- 
Additions
16,168 
At 31 May 2024
16,168 
Depreciation
Charge for the year
3,234 
At 31 May 2024
3,234 
Net book value
At 31 May 2024
12,934 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
780 
Accrued income and prepayments
24,895 
- 
24,895 
780 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
15,185 
10,937 
Taxes and social security
22,519 
20,511 
Loans from directors
992 
811 
Accruals
942 
250 
Deferred income
2,850 
- 
42,488 
32,509 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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