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
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
STUDIO WERC LIMITED
Statement of financial position
as at 28 February 2024
Tangible assets
12,006
12,084
Cash at bank and in hand
206,960
176,646
Creditors: amounts falling due within one year
(132,845)
(59,652)
Net current assets
135,227
152,500
Net assets
147,233
164,584
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
STUDIO WERC LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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%
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.
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
At 28 February 2024
313
2,134
29,624
32,071
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
At 28 February 2024
203
1,028
10,775
12,006
At 28 February 2023
266
1,394
10,424
12,084
Amounts falling due within one year
Trade debtors
37,701
17,082
Accrued income and prepayments
23,411
4,220
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
20,125
1,072
Taxes and social security
38,450
27,503
Loans from directors
42,358
11,126
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).