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STUDIO JEY LIMITED

Registered Number
15048887
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

STUDIO JEY LIMITED
Company Information
for the period from 4 August 2023 to 31 August 2024

Directors

DE GUZMAN, Josephine Anne
MURPHY, Jessica Hope

Registered Address

363a Lea Bridge Road Flat 4 Lea Bridge Lofts
London
E10 7LA

Registered Number

15048887 (England and Wales)
STUDIO JEY LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Fixed assets
Tangible assets34,969
4,969
Current assets
Stocks4651
Debtors511,435
Cash at bank and on hand17,626
29,712
Creditors amounts falling due within one year6(18,767)
Net current assets (liabilities)10,945
Total assets less current liabilities15,914
Net assets15,914
Capital and reserves
Called up share capital4
Profit and loss account15,910
Shareholders' funds15,914
The financial statements were approved and authorised for issue by the Board of Directors on 9 October 2024, and are signed on its behalf by:
DE GUZMAN, Josephine Anne
Director
Registered Company No. 15048887
STUDIO JEY LIMITED
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year2
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions5,5535,553
At 31 August 245,5535,553
Depreciation and impairment
Charge for year584584
At 31 August 24584584
Net book value
At 31 August 244,9694,969
At 03 August 23--
4.Stocks

2024

£
Other stocks651
Total651
5.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables11,435
Total11,435
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables3,897
Other creditors14,120
Accrued liabilities and deferred income750
Total18,767