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REGISTERED NUMBER: 12840728 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

STUDIO EXCEPTION LTD

STUDIO EXCEPTION LTD (REGISTERED NUMBER: 12840728)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STUDIO EXCEPTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Miss R Steel
D Sufi





REGISTERED OFFICE: 1st Floor
80 Coombe Road
New Malden
Surrey
KT3 4QS





REGISTERED NUMBER: 12840728 (England and Wales)





ACCOUNTANTS: Liles Morris Limited
1st Floor
80 Coombe Road
New Malden
Surrey
KT3 4QS

STUDIO EXCEPTION LTD (REGISTERED NUMBER: 12840728)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,349 1,202

CURRENT ASSETS
Debtors 5 29,544 125,719
Cash at bank 14,698 4,595
44,242 130,314
CREDITORS
Amounts falling due within one year 6 21,480 109,228
NET CURRENT ASSETS 22,762 21,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,111

22,288

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 24,111 21,288
25,111 22,288

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 29 October 2024 and were signed on its behalf by:



D Sufi - Director


STUDIO EXCEPTION LTD (REGISTERED NUMBER: 12840728)

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


1. STATUTORY INFORMATION

Studio Exception Ltd 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 the cost less estimated residual value of each asset over its estimated useful life:-

Computer equipment - over 4 years
Telephone equipment - over 2 years

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

STUDIO EXCEPTION LTD (REGISTERED NUMBER: 12840728)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2023 2,564
Additions 2,066
At 31 August 2024 4,630
DEPRECIATION
At 1 September 2023 1,362
Charge for year 919
At 31 August 2024 2,281
NET BOOK VALUE
At 31 August 2024 2,349
At 31 August 2023 1,202

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,804 125,619
Other debtors 1,740 100
29,544 125,719

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 389 10,246
Taxation and social security 1,597 33,114
Other creditors 19,494 65,868
21,480 109,228

7. RELATED PARTY DISCLOSURES

At the year end the company owed the director D Sufi £8,273 (2023: £44,000) and the director R Steel £10,271 (2023: £12,000). These loans are interest free and are included in creditors - amounts due within one year.