Company Registration No. 11542250 (England and Wales)
Studiospares Europe Limited
Unaudited accounts
for the year ended 31 December 2023
Studiospares Europe Limited
Unaudited accounts
Contents
Studiospares Europe Limited
Company Information
for the year ended 31 December 2023
Directors
R D Collins
H Gittelmon
M Robinson
D Hodgkinson
Company Number
11542250 (England and Wales)
Registered Office
Churchill House
137-139 Brent Street
London
NW4 4DJ
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Studiospares Europe Limited
Statement of financial position
as at 31 December 2023
Intangible assets
33,255
31,474
Tangible assets
158,027
187,873
Inventories
793,630
971,957
Cash at bank and in hand
31,368
101,482
Creditors: amounts falling due within one year
(2,618,856)
(2,437,175)
Net current liabilities
(1,531,678)
(1,155,455)
Total assets less current liabilities
(1,340,396)
(936,108)
Creditors: amounts falling due after more than one year
(16,667)
(26,667)
Net liabilities
(1,357,063)
(962,775)
Called up share capital
3,267
3,267
Profit and loss account
(1,360,330)
(966,042)
Shareholders' funds
(1,357,063)
(962,775)
For the year ending 31 December 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 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 of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by
M Robinson
Director
Company Registration No. 11542250
Studiospares Europe Limited
Notes to the Accounts
for the year ended 31 December 2023
Studiospares Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 11542250. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
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:
Land & buildings
Amortised over the period of the lease
Fixtures & fittings
15% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The financial statements have been prepared on a going concern basis. The company is dependent upon the continuing support of its directors and group companies which is expected to continue for at least one year from the date of approval of the financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Studiospares Europe Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
At 31 December 2023
45,703
At 31 December 2023
12,448
At 31 December 2023
33,255
At 31 December 2022
31,474
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
114,995
70,405
149,260
334,660
At 31 December 2023
114,995
70,405
149,260
334,660
At 1 January 2023
30,664
33,355
82,768
146,787
Charge for the year
7,666
5,557
16,623
29,846
At 31 December 2023
38,330
38,912
99,391
176,633
At 31 December 2023
76,665
31,493
49,869
158,027
At 31 December 2022
84,331
37,050
66,492
187,873
Finished goods
793,630
971,957
Amounts falling due within one year
Trade debtors
109,104
163,273
Accrued income and prepayments
4,799
24,608
Other debtors
148,277
20,400
Studiospares Europe Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
144,479
64,254
Trade creditors
109,297
458,300
Amounts owed to group undertakings and other participating interests
1,981,888
1,576,216
Taxes and social security
13,246
12,512
Other creditors
1,766
1,911
Loans from directors
309,329
309,330
9
Creditors: amounts falling due after more than one year
2023
2022
10
Average number of employees
During the year the average number of employees was 21 (2022: 19).