3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03166803 2023-04-01 2024-03-31 03166803 2024-03-31 03166803 2023-03-31 03166803 2022-04-01 2023-03-31 03166803 2023-03-31 03166803 2022-03-31 03166803 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 03166803 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 03166803 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03166803 bus:Director1 2023-04-01 2024-03-31 03166803 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03166803 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 03166803 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 03166803 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 03166803 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 03166803 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 03166803 core:WithinOneYear 2024-03-31 03166803 core:WithinOneYear 2023-03-31 03166803 core:ShareCapital 2024-03-31 03166803 core:ShareCapital 2023-03-31 03166803 core:RetainedEarningsAccumulatedLosses 2024-03-31 03166803 core:RetainedEarningsAccumulatedLosses 2023-03-31 03166803 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 03166803 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 03166803 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 03166803 bus:SmallEntities 2023-04-01 2024-03-31 03166803 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03166803 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03166803 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03166803 bus:FullAccounts 2023-04-01 2024-03-31 03166803 core:OfficeEquipment 2023-04-01 2024-03-31 03166803 core:OfficeEquipment 2023-03-31 03166803 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 03166803
Sonya Winner Studio Ltd
Filleted Unaudited Financial Statements
31 March 2024
Sonya Winner Studio Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Sonya Winner Studio Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
37,340
32,791
Tangible assets
6
141,508
154,728
---------
---------
178,848
187,519
Current assets
Stocks
25,347
31,687
Debtors
7
6,390
8,117
Cash at bank and in hand
61,238
85,621
--------
---------
92,975
125,425
Creditors: amounts falling due within one year
8
281,411
340,453
---------
---------
Net current liabilities
188,436
215,028
---------
---------
Total assets less current liabilities
( 9,588)
( 27,509)
-------
--------
Net liabilities
( 9,588)
( 27,509)
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 9,688)
( 27,609)
-------
--------
Shareholder deficit
( 9,588)
( 27,509)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sonya Winner Studio Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
S Winner
Director
Company registration number: 03166803
Sonya Winner Studio Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has pledged to support the trading activities of the company for the next twelve months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
20% straight line
Patents, trademarks and licences
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
4% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
5. Intangible assets
Development costs
Patents, trademarks and licences
Total
£
£
£
Cost
At 1 April 2023
71,412
11,480
82,892
Additions
16,455
540
16,995
--------
--------
--------
At 31 March 2024
87,867
12,020
99,887
--------
--------
--------
Amortisation
At 1 April 2023
47,135
2,966
50,101
Charge for the year
10,051
2,395
12,446
--------
--------
--------
At 31 March 2024
57,186
5,361
62,547
--------
--------
--------
Carrying amount
At 31 March 2024
30,681
6,659
37,340
--------
--------
--------
At 31 March 2023
24,277
8,514
32,791
--------
--------
--------
6. Tangible assets
Leasehold property
Equipment
Total
£
£
£
Cost
At 1 April 2023
176,004
120,525
296,529
Additions
1,041
1,041
---------
---------
---------
At 31 March 2024
176,004
121,566
297,570
---------
---------
---------
Depreciation
At 1 April 2023
35,147
106,654
141,801
Charge for the year
6,477
7,784
14,261
---------
---------
---------
At 31 March 2024
41,624
114,438
156,062
---------
---------
---------
Carrying amount
At 31 March 2024
134,380
7,128
141,508
---------
---------
---------
At 31 March 2023
140,857
13,871
154,728
---------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
4,299
3,334
Other debtors
2,091
4,783
-------
-------
6,390
8,117
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Credit cards and overdrafts
2,880
6,683
Trade creditors
20,249
16,680
Social security and other taxes
3,050
3,999
Other creditors
255,232
313,091
---------
---------
281,411
340,453
---------
---------
9. Related party transactions
At the year end the company owed the director £212,038 (2023: £272,087).