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REGISTERED NUMBER: 02099731 (England and Wales)















PAULO STUDIOS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PAULO STUDIOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr F Van De Langkruis
Ms G Paulo





REGISTERED OFFICE: Park Royal Studios
1 Barretts Green Road
London
NW10 7AE





REGISTERED NUMBER: 02099731 (England and Wales)

PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 392,649 437,490

CURRENT ASSETS
Debtors 5 273,249 365,795
Cash at bank 346,712 695,224
619,961 1,061,019
CREDITORS
Amounts falling due within one year 6 (254,970 ) (944,561 )
NET CURRENT ASSETS 364,991 116,458
TOTAL ASSETS LESS CURRENT LIABILITIES 757,640 553,948

CREDITORS
Amounts falling due after more than one
year

7

(18,333

)

(28,334

)

PROVISIONS FOR LIABILITIES (43,315 ) (15,203 )
NET ASSETS 695,992 510,411

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 695,792 510,211
SHAREHOLDERS' FUNDS 695,992 510,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

BALANCE SHEET - continued
31 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 Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





Ms G Paulo - Director


PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Paulo Studios 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the financial statements
are rounded to the nearest Pound.

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 the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants Alterations - 10% on cost
Plant and machinery - 15% - 20% on cost
Fixtures and fittings - 10 - 20% on cost
Motor vehicles - 20% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost.

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.


PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement on a straight line basis.

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 the income statement in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Exceptional items
Legal costs incurred in respect of the damage to the studio premises as a result of a fire are expensed as exceptional items on the basis that these are non-recurring.

Insurance income and costs in relation to the fire damaging the studio premises are expensed as a exceptional items on the basis that these are non-recurring also and material to the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 21 ) .

PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Tenants Plant and and Motor
Alterations machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 401,323 261,612 44,259 3,500 710,694
Additions - 1 9,286 - 9,287
Reclassification/transfer (105,012 ) 36,228 68,784 - -
At 31 March 2024 296,311 297,841 122,329 3,500 719,981
DEPRECIATION
At 1 April 2023 46,984 201,841 20,879 3,500 273,204
Charge for year 25,763 1,043 27,322 - 54,128
At 31 March 2024 72,747 202,884 48,201 3,500 327,332
NET BOOK VALUE
At 31 March 2024 223,564 94,957 74,128 - 392,649
At 31 March 2023 354,339 59,771 23,380 - 437,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 208,234 223,482
Other debtors 58,565 135,333
Prepayments and accrued income 6,450 6,980
273,249 365,795

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 10,000 9,999
Trade creditors 120,382 171,657
Corporation tax 34,855 24,987
Other tax and social security 28,958 8,291
Other creditors 55,174 54,382
Other loans - 554,208
Accruals and deferred income 5,601 121,037
254,970 944,561

PAULO STUDIOS LIMITED (REGISTERED NUMBER: 02099731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 18,333 20,000
Bank loans - 2-5 years - 8,334
18,333 28,334

The company has a bank loan with Barclays UK PLC. The annual interest for the loan is at a rate of 2.5% payable by instalments.

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 28,333 38,333

There is a fixed and floating charge in favour of Barclays Bank PLC. This is secured on the assets of the company.