Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3132023-01-01truefalseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3true 09552786 2023-01-01 2023-12-31 09552786 2022-01-01 2022-12-31 09552786 2023-12-31 09552786 2022-12-31 09552786 c:Director1 2023-01-01 2023-12-31 09552786 c:Director2 2023-01-01 2023-12-31 09552786 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 09552786 d:Buildings d:ShortLeaseholdAssets 2023-12-31 09552786 d:Buildings d:ShortLeaseholdAssets 2022-12-31 09552786 d:FurnitureFittings 2023-01-01 2023-12-31 09552786 d:FurnitureFittings 2023-12-31 09552786 d:FurnitureFittings 2022-12-31 09552786 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09552786 d:ComputerEquipment 2023-01-01 2023-12-31 09552786 d:ComputerEquipment 2023-12-31 09552786 d:ComputerEquipment 2022-12-31 09552786 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09552786 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09552786 d:CurrentFinancialInstruments 2023-12-31 09552786 d:CurrentFinancialInstruments 2022-12-31 09552786 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09552786 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09552786 d:ShareCapital 2023-12-31 09552786 d:ShareCapital 2022-12-31 09552786 d:RetainedEarningsAccumulatedLosses 2023-12-31 09552786 d:RetainedEarningsAccumulatedLosses 2022-12-31 09552786 c:FRS102 2023-01-01 2023-12-31 09552786 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09552786 c:FullAccounts 2023-01-01 2023-12-31 09552786 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09552786 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09552786









STUDIO QD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STUDIO QD LIMITED
REGISTERED NUMBER: 09552786

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,035
19,396

  
17,035
19,396

Current assets
  

Debtors: amounts falling due within one year
 5 
10,790
10,518

Cash at bank and in hand
 6 
86,726
82,339

  
97,516
92,857

Creditors: amounts falling due within one year
 7 
(108,583)
(109,953)

Net current liabilities
  
 
 
(11,067)
 
 
(17,096)

Total assets less current liabilities
  
5,968
2,300

  

Net assets
  
5,968
2,300


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
5,967
2,299

  
5,968
2,300

Page 1

 
STUDIO QD LIMITED
REGISTERED NUMBER: 09552786
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L A K Holtgen
J L M Quinn
Director
Director


Date: 9 September 2024
Date:9 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
STUDIO QD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Studio QD Limited is a private Company limited by shares and incorporated in England. Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the Company for the year was that of interior designers. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
STUDIO QD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20% per year
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
STUDIO QD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
18,000
18,000

18,000
18,000


The average monthly number of employees, including directors, during the year was 3.


4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
8,177
30,629
12,688
51,494


Additions
-
-
4,201
4,201



At 31 December 2023

8,177
30,629
16,889
55,695



Depreciation


At 1 January 2023
5,101
18,013
8,985
32,099


Charge for the year on owned assets
1,635
3,154
1,772
6,561



At 31 December 2023

6,736
21,167
10,757
38,660



Net book value



At 31 December 2023
1,441
9,462
6,132
17,035



At 31 December 2022
3,077
12,616
3,703
19,396
Page 5

 
STUDIO QD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
6,000
6,000

Prepayments and accrued income
4,790
4,518

10,790
10,518



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
86,726
82,339

86,726
82,339



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
185
1,455

Corporation tax
35,110
19,306

Other taxation and social security
9,813
18,511

Other creditors
25,769
7,656

Accruals and deferred income
37,706
63,025

108,583
109,953



8.


Related party transactions

Other creditors includes £19,053 (2022: £7,656) due to the directors of the Company.

 
Page 6