Studio Mikael Jansson Limited 09461142 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of photography services. Digita Accounts Production Advanced 6.30.9574.0 true true 09461142 2023-04-01 2024-03-31 09461142 2024-03-31 09461142 bus:Director2 1 2024-03-31 09461142 core:CurrentFinancialInstruments 2024-03-31 09461142 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09461142 bus:SmallEntities 2023-04-01 2024-03-31 09461142 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09461142 bus:FilletedAccounts 2023-04-01 2024-03-31 09461142 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09461142 bus:RegisteredOffice 2023-04-01 2024-03-31 09461142 bus:CompanySecretary1 2023-04-01 2024-03-31 09461142 bus:Director2 2023-04-01 2024-03-31 09461142 bus:Director2 1 2023-04-01 2024-03-31 09461142 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09461142 countries:EnglandWales 2023-04-01 2024-03-31 09461142 bus:Director2 1 2023-03-31 09461142 2022-04-01 2023-03-31 09461142 2023-03-31 09461142 bus:Director2 1 2023-03-31 09461142 core:CurrentFinancialInstruments 2023-03-31 09461142 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09461142 bus:Director2 1 2022-04-01 2023-03-31 09461142 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 09461142

Studio Mikael Jansson Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Studio Mikael Jansson Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Studio Mikael Jansson Limited

Company Information

Director

M Jansson

Company secretary

Goodwille Limited

Registered office

1 Chapel Street
Warwick
Warwickshire
CV34 4HL

Accountants

Bourner Bullock
Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Studio Mikael Jansson Limited

(Registration number: 09461142)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

1,361,153

1,358,882

Cash at bank and in hand

 

-

4,668

 

1,361,153

1,363,550

Creditors: Amounts falling due within one year

6

(26,627)

(21,386)

Total assets less current liabilities

 

1,334,526

1,342,164

Provisions for liabilities

-

(661)

Net assets

 

1,334,526

1,341,503

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,334,525

1,341,502

Shareholders' funds

 

1,334,526

1,341,503

 

Studio Mikael Jansson Limited

(Registration number: 09461142)
Balance Sheet as at 31 March 2024

For the financial 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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

.........................................

M Jansson
Director

 

Studio Mikael Jansson Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

These financial statements were authorised for issue by the director on 29 October 2024.

Principal activity

The principal activity of the Company is the provision of photography services.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Studio Mikael Jansson Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Studio Mikael Jansson Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

1,293,124

1,290,423

Other debtors

 

68,029

68,459

   

1,361,153

1,358,882

Included within amounts owed by related parties are balances of £208,997 (2022: £208,047), £1,082,926 (2022: £1,082,376) and £1,201 (2022: £0), which are owed by M Jansson, Studio Mikael Jansson AB and Lingonberry B.V respectively.

 

Studio Mikael Jansson Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

301

Taxation and social security

15,210

16,465

Accruals and deferred income

-

4,620

Other creditors

11,417

-

26,627

21,386

7

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

M Jansson

208,048

949

208,997

       
     

 

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

M Jansson

200,583

7,465

208,048