Company registration number 11457560 (England and Wales)
ONESIXONE STUDIO LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ONESIXONE STUDIO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ONESIXONE STUDIO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,304
2,647
Current assets
Debtors
4
8,633
2,486
Cash at bank and in hand
2,985
2
11,618
2,488
Creditors: amounts falling due within one year
5
(55,918)
(64,489)
Net current liabilities
(44,300)
(62,001)
Total assets less current liabilities
(41,996)
(59,354)
Creditors: amounts falling due after more than one year
6
(24,992)
(35,866)
Net liabilities
(66,988)
(95,220)
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
(67,188)
(95,420)
Total equity
(66,988)
(95,220)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
J B Saar
Director
Company registration number 11457560 (England and Wales)
ONESIXONE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

OneSixOne Studio Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 4, 49 Frognal, London, NW3 6YA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover is measured at the fair value of the rendering of services in the normal course of business, and is shown net of discounts and VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line basis
Fixtures and fittings
20% straight line basis
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

Basic financial liabilities

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

 

ONESIXONE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
5
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
4,446
3,301
7,747
Depreciation and impairment
At 1 January 2023
3,123
1,977
5,100
Depreciation charged in the year
162
181
343
At 31 December 2023
3,285
2,158
5,443
Carrying amount
At 31 December 2023
1,161
1,143
2,304
At 31 December 2022
1,323
1,324
2,647
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
8,633
2,486
ONESIXONE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,728
34,615
Trade creditors
23,320
17,219
Taxation and social security
1,739
1,554
Other creditors
21,131
11,101
55,918
64,489

Bank loans above are secured by way of personal guarantees provided by the directors.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
24,992
35,866

Bank loans above are secured by way of personal guarantees provided by the directors.

Bank loans of £28,700 (£28,700 - 2022) are also secured by way of a fixed floating charge over the assets of the company.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of 0.1p each
200,000
200,000
200
200
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