2023-04-012024-03-312024-03-31false05068447LINEA STUDIO 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LINEA STUDIO LIMITED

Registered Number
05068447
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LINEA STUDIO LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

THATCHER, Angus Aynsley
TYLER, Kathryn Jane

Company Secretary

TYLER, Guat Ean

Registered Address

11 Trescobeas Road
Falmouth
Cornwall
TR11 2JB

Registered Number

05068447 (England and Wales)
LINEA STUDIO LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets335,1069,696
35,1069,696
Current assets
Debtors49,559184,625
Cash at bank and on hand154,40552,432
163,964237,057
Creditors amounts falling due within one year5(6,146)(33,758)
Net current assets (liabilities)157,818203,299
Total assets less current liabilities192,924212,995
Provisions for liabilities6(6,670)(1,842)
Net assets186,254211,153
Capital and reserves
Called up share capital11
Profit and loss account186,253211,152
Shareholders' funds186,254211,153
The financial statements were approved and authorised for issue by the Board of Directors on 8 October 2024, and are signed on its behalf by:
TYLER, Kathryn Jane
Director
Registered Company No. 05068447
LINEA STUDIO LIMITED
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 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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2316,3781,3299,32927,036
Additions31,06520575932,029
At 31 March 2447,4431,53410,08859,065
Depreciation and impairment
At 01 April 2313,7796782,88317,340
Charge for year5,0501281,4416,619
At 31 March 2418,8298064,32423,959
Net book value
At 31 March 2428,6147285,76435,106
At 31 March 232,5996516,4469,696
4.Debtors: amounts due within one year

2024

2023

££
Other debtors9,079183,505
Prepayments and accrued income4801,120
Total9,559184,625
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,2731,617
Taxation and social security28331,640
Other creditors90-
Accrued liabilities and deferred income500501
Total6,14633,758
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,6701,842
Total6,6701,842