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Company Registration No. 10626410 (England and Wales)
STUDIO WERC LIMITED Unaudited accounts for the period from 1 March 2023 to 28 February 2024
STUDIO WERC LIMITED Unaudited accounts Contents
Page
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STUDIO WERC LIMITED Company Information for the period from 1 March 2023 to 28 February 2024
Directors
Robert Gregory Cullen Edward Timothy Ward
Company Number
10626410 (England and Wales)
Registered Office
40 LISLE CLOSE LONDON SW17 6LB UNITED KINGDOM
Accountants
Cone Accounting Limited 124 City Road London EC1V 2NX
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STUDIO WERC LIMITED Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,006 
12,084 
Current assets
Debtors
61,112 
35,506 
Cash at bank and in hand
206,960 
176,646 
268,072 
212,152 
Creditors: amounts falling due within one year
(132,845)
(59,652)
Net current assets
135,227 
152,500 
Net assets
147,233 
164,584 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
147,231 
164,582 
Shareholders' funds
147,233 
164,584 
For the period ending 28 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 26 November 2024 and were signed on its behalf by
Robert Gregory Cullen Director Company Registration No. 10626410
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STUDIO WERC LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
STUDIO WERC LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10626410. The registered office is 40 LISLE CLOSE, LONDON, SW17 6LB, UNITED KINGDOM.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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:
Plant & machinery
Straight Line 20.00%
Fixtures & fittings
Reducing Balance & Straight Line 25.00%
Computer equipment
Straight Line 33.33%
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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STUDIO WERC LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
313 
2,134 
22,198 
24,645 
Additions
- 
- 
7,426 
7,426 
At 28 February 2024
313 
2,134 
29,624 
32,071 
Depreciation
At 1 March 2023
47 
740 
11,774 
12,561 
Charge for the period
63 
366 
7,075 
7,504 
At 28 February 2024
110 
1,106 
18,849 
20,065 
Net book value
At 28 February 2024
203 
1,028 
10,775 
12,006 
At 28 February 2023
266 
1,394 
10,424 
12,084 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,701 
17,082 
Accrued income and prepayments
23,411 
4,220 
Other debtors
- 
14,204 
61,112 
35,506 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
31,098 
19,408 
Trade creditors
20,125 
1,072 
Taxes and social security
38,450 
27,503 
Other creditors
814 
543 
Loans from directors
42,358 
11,126 
132,845 
59,652 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £0.02 each
2 
2 
8
Transactions with related parties
Last year the company loaned funds to BH Victoria Developments Ltd. Total amounts loaned was £14,204 which is fully paid at 28th February 2024.
9
Average number of employees
During the period the average number of employees was 8 (2023: 7).
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