2023-04-012024-03-312024-03-31false07016685IDENTITY STUDIO 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IDENTITY STUDIO LTD

Registered Number
07016685
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

IDENTITY STUDIO LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HOWE, Maxine Dawn
HUDSON, Mark Foley
SPRAGUE, Kelvin

Company Secretary

HOWE, Maxine

Registered Address

Tavy
Warran Lane
Tavistock
PL19 9DB

Registered Number

07016685 (England and Wales)
IDENTITY STUDIO LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,9511,171
6,9511,171
Current assets
Debtors9,93623,535
Cash at bank and on hand5,64118,454
15,57741,989
Creditors amounts falling due within one year4(16,384)(21,063)
Net current assets (liabilities)(807)20,926
Total assets less current liabilities6,14422,097
Net assets6,14422,097
Capital and reserves
Called up share capital102102
Profit and loss account6,04221,995
Shareholders' funds6,14422,097
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2024, and are signed on its behalf by:
HOWE, Maxine Dawn
Director
Registered Company No. 07016685
IDENTITY STUDIO LTD
Notes to the Financial Statements
for the year ended 31 March 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 239,645
Additions6,331
At 31 March 2415,976
Depreciation and impairment
At 01 April 238,474
Charge for year551
At 31 March 249,025
Net book value
At 31 March 246,951
At 31 March 231,171
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,7571,252
Bank borrowings and overdrafts2,626299
Taxation and social security11,32919,212
Accrued liabilities and deferred income672300
Total16,38421,063
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.