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REGISTERED NUMBER: 06256087 (England and Wales)












Financial Statements for the Year Ended 31 May 2024

for

A Way Studio Ltd

A Way Studio Ltd (Registered number: 06256087)

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


A Way Studio Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Greenaway
L A Greenaway





SECRETARY: M S Greenaway





REGISTERED OFFICE: 20 Fairlawn Drive
Redhill
Surrey
RH1 6JP





REGISTERED NUMBER: 06256087 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Unit 4D, Lansbury Business Estate
102 Lower Guildford Road
Knaphill
Woking
Surrey
GU21 2EP

A Way Studio Ltd (Registered number: 06256087)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 14,191 16,090

CURRENT ASSETS
Debtors 5 9,588 1,980
Cash at bank 15,346 4,038
24,934 6,018
CREDITORS
Amounts falling due within one year 6 (22,766 ) (10,807 )
NET CURRENT ASSETS/(LIABILITIES) 2,168 (4,789 )
TOTAL ASSETS LESS CURRENT LIABILITIES 16,359 11,301

CREDITORS
Amounts falling due after more than one
year

7

(6,735

)

(10,743

)

PROVISIONS FOR LIABILITIES (468 ) (412 )
NET ASSETS 9,156 146

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,056 46
SHAREHOLDERS' FUNDS 9,156 146

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.

A Way Studio Ltd (Registered number: 06256087)

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 12 November 2024 and were signed on its behalf by:





A Greenaway - Director


A Way Studio Ltd (Registered number: 06256087)

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


1. STATUTORY INFORMATION

A Way Studio 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.

Revenue
Revenue represents net sales of services invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Garden Studio - 10% on cost
Office equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

A Way Studio Ltd (Registered number: 06256087)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. PROPERTY, PLANT AND EQUIPMENT
Garden Office
Studio equipment Totals
£    £    £   
COST
At 1 June 2023 20,062 15,270 35,332
Additions - 956 956
At 31 May 2024 20,062 16,226 36,288
DEPRECIATION
At 1 June 2023 6,186 13,056 19,242
Charge for year 2,062 793 2,855
At 31 May 2024 8,248 13,849 22,097
NET BOOK VALUE
At 31 May 2024 11,814 2,377 14,191
At 31 May 2023 13,876 2,214 16,090

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 9,588 -
Other debtors - 1,980
9,588 1,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 2,004 -
Taxation and social security 18,376 9,127
Other creditors 2,386 1,680
22,766 10,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 6,735 10,743