0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 250,075 250,075 250,075 xbrli:pure xbrli:shares iso4217:GBP 09346069 2023-02-01 2024-01-31 09346069 2024-01-31 09346069 2023-01-31 09346069 2022-02-01 2023-01-31 09346069 2023-01-31 09346069 2022-01-31 09346069 bus:Director2 2023-02-01 2024-01-31 09346069 core:WithinOneYear 2024-01-31 09346069 core:WithinOneYear 2023-01-31 09346069 core:ShareCapital 2024-01-31 09346069 core:ShareCapital 2023-01-31 09346069 core:RetainedEarningsAccumulatedLosses 2024-01-31 09346069 core:RetainedEarningsAccumulatedLosses 2023-01-31 09346069 core:CostValuation core:Non-currentFinancialInstruments 2024-01-31 09346069 core:Non-currentFinancialInstruments 2024-01-31 09346069 core:Non-currentFinancialInstruments 2023-01-31 09346069 bus:SmallEntities 2023-02-01 2024-01-31 09346069 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09346069 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09346069 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09346069 bus:FullAccounts 2023-02-01 2024-01-31 09346069 core:AllAssociates 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 09346069
MD Studio Holdings Limited
Filleted Unaudited Financial Statements
31 January 2024
MD Studio Holdings Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
MD Studio Holdings Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
250,075
250,075
Current assets
Debtors
6
100
100
Creditors: amounts falling due within one year
7
155,407
153,555
---------
---------
Net current liabilities
155,307
153,455
---------
---------
Total assets less current liabilities
94,768
96,620
--------
--------
Net assets
94,768
96,620
--------
--------
Capital and reserves
Called up share capital
175
175
Profit and loss account
94,593
96,445
--------
--------
Shareholders funds
94,768
96,620
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
J L Walker
Director
Company registration number: 09346069
MD Studio Holdings Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36 Kinnerton Street, London, SW1X 8ES, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
During the year, average employee numbers were 1 (2022: 1).
5. Investments
Shares in group undertakings
£
Cost
At 1 February 2023 and 31 January 2024
250,075
---------
Impairment
At 1 February 2023 and 31 January 2024
---------
Carrying amount
At 31 January 2024
250,075
---------
At 31 January 2023
250,075
---------
The investment relates to the company owning 100% of the issued share capital of MD Studio Limited.
6. Debtors
2024
2023
£
£
Other debtors
100
100
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
153,957
152,180
Other creditors
1,450
1,375
---------
---------
155,407
153,555
---------
---------
8. Related party transactions
At the balance sheet date, the company owed it's subsidiary company £153,957 (2023: £152,180).