Company Registration No. 12448070 (England and Wales)
Lowtide Studio Ltd
Unaudited accounts
for the year ended 29 February 2024
Lowtide Studio Ltd
Unaudited accounts
Contents
Lowtide Studio Ltd
Company Information
for the year ended 29 February 2024
Directors
M A Chivers
L E Chivers
Company Number
12448070 (England and Wales)
Registered Office
Dimber Mote Road
Ivy Hatch
Sevenoaks
TN15 0PG
Accountants
R M Accountancy Services Ltd
The Old Post Office
137-139 Long Street
Dordon
Staffordshire
B78 1SH
Lowtide Studio Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
1,236
1,621
Cash at bank and in hand
29,518
34,705
Creditors: amounts falling due within one year
(37,694)
(41,595)
Net current assets
5,750
12,831
Called up share capital
2
2
Profit and loss account
6,984
14,450
Shareholders' funds
6,986
14,452
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by
M A Chivers
Director
Company Registration No. 12448070
Lowtide Studio Ltd
Notes to the Accounts
for the year ended 29 February 2024
Lowtide Studio Ltd is a private company, limited by shares, registered in England and Wales, registration number 12448070. The registered office is Dimber Mote Road, Ivy Hatch, Sevenoaks, TN15 0PG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Over three years
The accounts are presented in £ sterling.
4
Tangible fixed assets
Computer equipment
Lowtide Studio Ltd
Notes to the Accounts
for the year ended 29 February 2024
Amounts falling due after more than one year
Trade debtors
13,926
19,721
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
20,912
12,792
Loans from directors
8,722
23,874
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).