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REGISTERED NUMBER: 08821791 (England and Wales)















Proxy Studio Limited

Financial Statements

for the Year Ended 31 March 2024






Proxy Studio Limited (Registered number: 08821791)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Proxy Studio Limited

Company Information
for the year ended 31 March 2024







Directors: M K Bovellan
A H Bovellan





Registered office: One
Glass Wharf
Bristol
BS2 0ZX





Registered number: 08821791 (England and Wales)






Proxy Studio Limited (Registered number: 08821791)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 6,625 17,583

Current assets
Debtors 5 97,996 73,773
Cash at bank 183,246 296,058
281,242 369,831
Creditors
Amounts falling due within one year 6 5,698 9,735
Net current assets 275,544 360,096
Total assets less current liabilities 282,169 377,679

Creditors
Amounts falling due after more than one
year

7

175,000

175,000
Net assets 107,169 202,679

Capital and reserves
Called up share capital 121 110
Retained earnings 8 107,048 202,569
Shareholders' funds 107,169 202,679

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

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

Proxy Studio Limited (Registered number: 08821791)

Balance Sheet - continued
31 March 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 4 November 2024 and were signed on its behalf by:





M K Bovellan - Director


Proxy Studio Limited (Registered number: 08821791)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Proxy Studio 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the provision of services and is recognised at the point of invoice. If the provision of services spans the financial year end, it is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Leasehold improvements-20% straight line
Fixtures and fittings-20% straight line
Computer equipment-20% straight line

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.

Proxy Studio Limited (Registered number: 08821791)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements

3. Employees and directors

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

4. Tangible fixed assets
Improvements Plant and Computer
to property machinery equipment Totals
£ £ £ £
Cost
At 1 April 2023
and 31 March 2024 125,749 4,488 46,818 177,055
Depreciation
At 1 April 2023 125,749 3,563 30,160 159,472
Charge for year - 925 10,033 10,958
At 31 March 2024 125,749 4,488 40,193 170,430
Net book value
At 31 March 2024 - - 6,625 6,625
At 31 March 2023 - 925 16,658 17,583

Proxy Studio Limited (Registered number: 08821791)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 88,857 61,308
Other debtors 6,600 5,760
Directors' loan accounts 2,034 2,034
VAT - 3,436
Prepayments 505 1,235
97,996 73,773

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 787 1,678
Tax - 2,963
Pension Payable 633 633
VAT 14 -
Other creditors 1,065 1,262
Accrued expenses 3,199 3,199
5,698 9,735

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Amounts owed to group undertakings 175,000 175,000

8. Reserves
Retained
earnings
£

At 1 April 2023 202,569
Deficit for the year (95,521 )
At 31 March 2024 107,048