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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
Page
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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
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Studiospares Europe Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
33,255 
31,474 
Tangible assets
158,027 
187,873 
191,282 
219,347 
Current assets
Inventories
793,630 
971,957 
Debtors
262,180 
208,281 
Cash at bank and in hand
31,368 
101,482 
1,087,178 
1,281,720 
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)
Capital and reserves
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
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Studiospares Europe Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
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, 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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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.
Pension costs
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.
Going concern
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.
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Studiospares Europe Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
39,352 
Additions
6,351 
At 31 December 2023
45,703 
Amortisation
At 1 January 2023
7,878 
Charge for the year
4,570 
At 31 December 2023
12,448 
Net book value
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 
Depreciation
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 
Net book value
At 31 December 2023
76,665 
31,493 
49,869 
158,027 
At 31 December 2022
84,331 
37,050 
66,492 
187,873 
6
Inventories
2023 
2022 
£ 
£ 
Finished goods
793,630 
971,957 
793,630 
971,957 
7
Debtors
2023 
2022 
£ 
£ 
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 
262,180 
208,281 
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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 
VAT
52,721 
7,472 
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 
Accruals
6,130 
7,180 
2,618,856 
2,437,175 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,667 
26,667 
10
Average number of employees
During the year the average number of employees was 21 (2022: 19).
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