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REGISTERED NUMBER: 08551124 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

STUDIO 360 LIMITED

STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STUDIO 360 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: R G Hickton
Mrs S L Hickton





REGISTERED OFFICE: UN9 Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA





REGISTERED NUMBER: 08551124 (England and Wales)





ACCOUNTANTS: A Wigglesworth and Company Ltd
Chartered Accountants
Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA

STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,077 45,972

CURRENT ASSETS
Debtors 5 212,688 185,898
Cash at bank 176,798 210,000
389,486 395,898
CREDITORS
Amounts falling due within one year 6 325,199 327,409
NET CURRENT ASSETS 64,287 68,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,364

114,461

CREDITORS
Amounts falling due after more than one
year

7

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES (9,769 ) (11,493 )
NET ASSETS 83,595 82,968

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 83,495 82,868
SHAREHOLDERS' FUNDS 83,595 82,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:




R G Hickton - Director



Mrs S L Hickton - Director


STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Studio 360 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 9,526 88,777 98,303
DEPRECIATION
At 1 June 2023 6,827 45,504 52,331
Charge for year 404 6,491 6,895
At 31 May 2024 7,231 51,995 59,226
NET BOOK VALUE
At 31 May 2024 2,295 36,782 39,077
At 31 May 2023 2,699 43,273 45,972

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,037 77,172
Other debtors 133,651 108,726
212,688 185,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 160,160 171,206
Taxation and social security 50,506 50,136
Other creditors 104,533 96,067
325,199 327,409

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,000 20,000

STUDIO 360 LIMITED (REGISTERED NUMBER: 08551124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
R G Hickton and Mrs S L Hickton
Balance outstanding at start of year 108,355 92,280
Amounts advanced 133,923 112,075
Amounts repaid (109,000 ) (96,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 133,278 108,355

During the year beneficial loan interest was charged of £3,415 (2023 - £2,530) at 2.25% per annum on the overdrawn balance.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are R G Hickton and Mrs S L Hickton, holding 50% each of the issued share capital.