Company Registration No. 13876789 (England and Wales)
Dessert Studio Limited
Unaudited accounts
for the year ended 31 January 2024
Dessert Studio Limited
Unaudited accounts
Contents
Dessert Studio Limited
Company Information
for the year ended 31 January 2024
Company Number
13876789 (England and Wales)
Registered Office
Flat 501 Cutmore Ropeworks
1 Arboretum Place
Barking
IG11 7GT
Dessert Studio Limited
Statement of financial position
as at 31 January 2024
Tangible assets
19,108
18,953
Cash at bank and in hand
14,460
14,752
Creditors: amounts falling due within one year
(74,053)
(49,204)
Net current liabilities
(20,775)
(27,153)
Net liabilities
(1,667)
(8,200)
Called up share capital
4
4
Profit and loss account
(1,671)
(8,204)
Shareholders' funds
(1,667)
(8,200)
For the year ending 31 January 2024 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 director acknowledges his 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 and authorised for issue on 10 September 2024 and were signed on its behalf by
Muhammad Shakeel
Director
Company Registration No. 13876789
Dessert Studio Limited
Notes to the Accounts
for the year ended 31 January 2024
Dessert Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 13876789. The registered office is Flat 501 Cutmore Ropeworks, 1 Arboretum Place, Barking, IG11 7GT.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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:
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
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.
Dessert Studio Limited
Notes to the Accounts
for the year ended 31 January 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
14,344
10,927
25,271
At 31 January 2024
14,344
19,557
33,901
At 1 February 2023
3,586
2,732
6,318
Charge for the year
3,586
4,889
8,475
At 31 January 2024
7,172
7,621
14,793
At 31 January 2024
7,172
11,936
19,108
At 31 January 2023
10,758
8,195
18,953
Amounts falling due within one year
Accrued income and prepayments
493
335
Other debtors
32,272
1,850
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
27,033
-
Taxes and social security
7,961
-
Other creditors
33,460
32,998
Loans from directors
4,441
14,241
Dessert Studio Limited
Notes to the Accounts
for the year ended 31 January 2024
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
8
Transactions with related parties
Included in other creditors is the sum of £4,441 (2023: £14,241) owed to Mr Muhammad Shakeel, a controlling director and majority shareholder of the company.
9
Average number of employees
During the year the average number of employees was 7 (2023: 1).