IRIS Accounts Production v24.1.9.2 08007510 director 31.3.23 30.3.24 30.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080075102023-03-30080075102024-03-30080075102023-03-312024-03-30080075102022-03-30080075102022-03-312023-03-30080075102023-03-3008007510ns15:EnglandWales2023-03-312024-03-3008007510ns14:PoundSterling2023-03-312024-03-3008007510ns10:Director12023-03-312024-03-3008007510ns10:PrivateLimitedCompanyLtd2023-03-312024-03-3008007510ns10:SmallEntities2023-03-312024-03-3008007510ns10:AuditExempt-NoAccountantsReport2023-03-312024-03-3008007510ns10:SmallCompaniesRegimeForDirectorsReport2023-03-312024-03-3008007510ns10:SmallCompaniesRegimeForAccounts2023-03-312024-03-3008007510ns10:FullAccounts2023-03-312024-03-3008007510ns10:RegisteredOffice2023-03-312024-03-3008007510ns5:CurrentFinancialInstruments2024-03-3008007510ns5:CurrentFinancialInstruments2023-03-3008007510ns5:Non-currentFinancialInstruments2024-03-3008007510ns5:Non-currentFinancialInstruments2023-03-3008007510ns5:ShareCapital2024-03-3008007510ns5:ShareCapital2023-03-3008007510ns5:RetainedEarningsAccumulatedLosses2024-03-3008007510ns5:RetainedEarningsAccumulatedLosses2023-03-3008007510ns5:FurnitureFittings2023-03-312024-03-3008007510ns5:ComputerEquipment2023-03-312024-03-3008007510ns5:FurnitureFittings2023-03-3008007510ns5:ComputerEquipment2023-03-3008007510ns5:FurnitureFittings2024-03-3008007510ns5:ComputerEquipment2024-03-3008007510ns5:FurnitureFittings2023-03-3008007510ns5:ComputerEquipment2023-03-3008007510ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3008007510ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-30
REGISTERED NUMBER: 08007510 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 March 2024

for

Home Studios 4U Limited

Home Studios 4U Limited (Registered number: 08007510)






Contents of the Financial Statements
for the Year Ended 30 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Home Studios 4U Limited

Company Information
for the Year Ended 30 March 2024







DIRECTOR: M Mizrachi





REGISTERED OFFICE: 90 Mill Lane
West Hampstead
London
NW6 1NL





REGISTERED NUMBER: 08007510 (England and Wales)






Home Studios 4U Limited (Registered number: 08007510)

Balance Sheet
30 March 2024

30.3.24 30.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 977 1,303

CURRENT ASSETS
Debtors 5 680,593 755,259
Cash at bank 1,206 -
681,799 755,259
CREDITORS
Amounts falling due within one year 6 653,590 728,706
NET CURRENT ASSETS 28,209 26,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,186

27,856

CREDITORS
Amounts falling due after more than one
year

7

16,882

27,096
NET ASSETS 12,304 760

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 12,004 460
SHAREHOLDERS' FUNDS 12,304 760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Home Studios 4U Limited (Registered number: 08007510)

Balance Sheet - continued
30 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





M Mizrachi - Director


Home Studios 4U Limited (Registered number: 08007510)

Notes to the Financial Statements
for the Year Ended 30 March 2024

1. STATUTORY INFORMATION

Home Studios 4U Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Director's loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Home Studios 4U Limited (Registered number: 08007510)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 31 March 2023
and 30 March 2024 2,379 4,626 7,005
DEPRECIATION
At 31 March 2023 1,751 3,951 5,702
Charge for year 157 169 326
At 30 March 2024 1,908 4,120 6,028
NET BOOK VALUE
At 30 March 2024 471 506 977
At 30 March 2023 628 675 1,303

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 30.3.23
£    £   
Amounts owed by participating interests - 150
Other debtors 680,593 755,109
680,593 755,259

Other debtors include £495,236 which relates to the director's overdrawn current account balance at the year end (2023 - £568,508). At the start of the year the director's current account was overdrawn by £568,508 and the maximum overdrawn amount during the year was £568,508. Interest is charged on the overdrawn director's current account at the official rate of interest.

Home Studios 4U Limited (Registered number: 08007510)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 30.3.23
£    £   
Bank loans and overdrafts 24,475 30,346
Trade creditors 323,540 273,604
Amounts owed to participating interests 209,373 293,854
Taxation and social security 92,192 111,493
Other creditors 4,010 19,409
653,590 728,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 30.3.23
£    £   
Bank loans 16,882 27,096

8. RELATED PARTY DISCLOSURES

There are companies that have some common directors and shareholders with this company and at 30 March 2024 owe £Nil to the company (2023 - £150). No interest has been charged by the company in respect of these amounts owed which are repayable on demand and classified in debtors.

There are companies that have some common directors and shareholders with this company and at 30 March 2024 some of these companies are owed £209,373 (2023 - £293,854). No interest has been charged to the company in respect of these amounts owed which are repayable on demand and classified in creditors due within one year.