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Registered number: 13298824
Ellipse Design Studio Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13298824
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,716 6,321
4,716 6,321
CURRENT ASSETS
Debtors 5 33,507 25,487
Cash at bank and in hand 10,034 28,903
43,541 54,390
Creditors: Amounts Falling Due Within One Year 6 (19,712 ) (25,963 )
NET CURRENT ASSETS (LIABILITIES) 23,829 28,427
TOTAL ASSETS LESS CURRENT LIABILITIES 28,545 34,748
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (896 ) (1,201 )
NET ASSETS 27,649 33,547
CAPITAL AND RESERVES
Called up share capital 8 6 6
Profit and Loss Account 27,643 33,541
SHAREHOLDERS' FUNDS 27,649 33,547
Page 1
Page 2
For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss M Innes
Director
11/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ellipse Design Studio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13298824 . The registered office is 70 Brookwell Blackhorse Mills, 31 Wickford Way, London, United Kingdom, E17 6FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & Machinery 25% straight line
Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.5. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 532 7,955 8,487
As at 31 March 2024 532 7,955 8,487
Depreciation
As at 1 April 2023 100 2,066 2,166
Provided during the period 133 1,472 1,605
As at 31 March 2024 233 3,538 3,771
Net Book Value
As at 31 March 2024 299 4,417 4,716
As at 1 April 2023 432 5,889 6,321
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,760 25,020
Other debtors 12,747 467
33,507 25,487
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31 21
Other creditors 9,247 8,623
Taxation and social security 10,434 17,319
19,712 25,963
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 896 1,201
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
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