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REGISTERED NUMBER: 06703599 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Andy Hillman Studio Limited

Andy Hillman Studio Limited (Registered number: 06703599)






Contents of the Financial Statements
for the Year Ended 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Andy Hillman Studio Limited (Registered number: 06703599)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 61,099 18,888
Tangible assets 5 23,605 18,329
84,704 37,217

CURRENT ASSETS
Debtors 6 279,073 417,861
Cash at bank 68,389 51,186
347,462 469,047
CREDITORS
Amounts falling due within one year 7 (237,037 ) (283,811 )
NET CURRENT ASSETS 110,425 185,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,129

222,453

PROVISIONS FOR LIABILITIES (5,902 ) (4,582 )
NET ASSETS 189,227 217,871

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 189,226 217,870
SHAREHOLDERS' FUNDS 189,227 217,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





Mr A C Hillman - Director


Andy Hillman Studio Limited (Registered number: 06703599)

Notes to the Financial Statements
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Andy Hillman Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 06703599. The registered office is Solar House, PF 915 High Road, North Finchley, London N12 8QJ.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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.

Revenue recognition
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:
o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due under the contract;
o the stage of completion of the contract at the end of the reporting period can be measured reliably; and
o the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. The intangible asset was subsequently measured using the cost model last year but has now moved to revaluation model.

Under the revaluation model, the intangible asset is shown at its revalued amount which is its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

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.

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

Depreciation is provided on the following basis:
Improvements to property - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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 the Profit and loss account.

Andy Hillman Studio Limited (Registered number: 06703599)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

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.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating lease
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Andy Hillman Studio Limited (Registered number: 06703599)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Crypto
Goodwill currency Totals
£    £    £   
COST
At 1 January 2023 35,750 20,987 56,737
Additions - 42,211 42,211
At 31 December 2023 35,750 63,198 98,948
AMORTISATION
At 1 January 2023
and 31 December 2023 35,750 2,099 37,849
NET BOOK VALUE
At 31 December 2023 - 61,099 61,099
At 31 December 2022 - 18,888 18,888

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 14,878 4,863 15,825 13,103 48,669
Additions 4,472 5,945 - 4,246 14,663
At 31 December 2023 19,350 10,808 15,825 17,349 63,332
DEPRECIATION
At 1 January 2023 4,048 1,544 15,371 9,377 30,340
Charge for year 3,602 2,592 341 2,852 9,387
At 31 December 2023 7,650 4,136 15,712 12,229 39,727
NET BOOK VALUE
At 31 December 2023 11,700 6,672 113 5,120 23,605
At 31 December 2022 10,830 3,319 454 3,726 18,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 66,528 108,587
Other debtors 212,545 309,274
279,073 417,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 163,391 121,866
Taxation and social security 61,538 80,264
Other creditors 12,108 81,681
237,037 283,811

Andy Hillman Studio Limited (Registered number: 06703599)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr A C Hillman
Balance outstanding at start of year 209,750 161,773
Amounts advanced 171,988 217,007
Amounts repaid (214,128 ) (169,030 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 167,610 209,750

The above loan is interest free, repayable on demand and was unsecured.