Registration number:
Thiss Studio Ltd
for the Year Ended 31 August 2024
Thiss Studio Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
Thiss Studio Ltd
Company Information
Directors |
Tamsin Diana Hanke Alexander James Scott Reading |
Registered office |
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Accountants |
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Thiss Studio Ltd
Directors' Report for the Year Ended 31 August 2024
The directors present their report and the financial statements for the year ended 31 August 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is architectural design.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Thiss Studio Ltd
for the Year Ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thiss Studio Ltd for the year ended 31 August 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Thiss Studio Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Thiss Studio Ltd and state those matters that we have agreed to state to the Board of Directors of Thiss Studio Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thiss Studio Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Thiss Studio Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Thiss Studio Ltd. You consider that Thiss Studio Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Thiss Studio Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants & Business Advisers
West Down Farm
Corton Denham
Sherborne
Dorset
DT9 4LG
Thiss Studio Ltd
Profit and Loss Account for the Year Ended 31 August 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
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Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating profit |
17,466 |
59,923 |
|
Interest payable and similar expenses |
( |
( |
|
Profit before tax |
|
|
|
Tax on profit |
|
( |
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Thiss Studio Ltd
Statement of Comprehensive Income for the Year Ended 31 August 2024
2024 |
2023 |
|
Profit for the year |
|
|
Total comprehensive income for the year |
|
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Thiss Studio Ltd
(Registration number: 12217540)
Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
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Fixed assets |
|||
Tangible assets |
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Current assets |
|||
Debtors |
|
|
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Cash at bank and in hand |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Net assets |
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|
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Capital and reserves |
|||
Called up share capital |
102 |
100 |
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Retained earnings |
3 |
4,801 |
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Shareholders' funds |
105 |
4,901 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Thiss Studio Ltd
Statement of Changes in Equity for the Year Ended 31 August 2024
Share capital |
Retained earnings |
Total |
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At 1 September 2023 |
|
|
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Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 August 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
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At 1 September 2022 |
|
|
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Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
New share capital subscribed |
|
- |
|
At 31 August 2023 |
100 |
4,801 |
4,901 |
Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
25% Straight Line |
Plant and Machinery |
25% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
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Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2023 |
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Additions |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
|
|
|
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
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Taxation and social security |
|
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Accruals and deferred income |
|
- |
Other creditors |
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|
|
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Dividends |
Interim dividends paid
Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
2024 |
2023 |
|||
Interim dividend of £ |
|
|
||
Interim dividend of £ |
|
- |
||
Interim dividend of £ |
|
- |
||
|
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Related party transactions |
Thiss Studio Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Directors' remuneration
The directors' remuneration for the year was as follows:
2024 |
2023 |
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Remuneration |
|
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Thiss Studio Ltd
iXBRL Detailed Profit and Loss Account for the Year Ended 31 August 2024
2024 |
2023 |
|
Turnover/revenue |
|
|
Cost of sales |
||
Opening stock/inventories |
- |
- |
Purchase of raw materials and consumables |
( |
( |
Closing stock/inventories |
- |
- |
Gross profit |
167,798 |
192,852 |
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Advertising, promotions and marketing costs |
( |
( |
Rent, rates and services costs |
( |
( |
Other repairs and maintenance costs |
( |
( |
Cleaning costs |
( |
( |
Depreciation of fixed assets |
( |
( |
Other staff costs |
( |
- |
Wages and salaries excluding directors |
( |
( |
Pension costs defined contribution schemes excluding directors |
( |
( |
Other staff costs excluding directors |
( |
( |
Staff costs excluding directors |
( |
( |
Salaries and fees, directors |
( |
( |
Consultancy costs |
( |
( |
Subcontractor costs |
( |
( |
Travel and subsistence |
( |
( |
Training |
- |
( |
Bank charges |
( |
( |
Insurance costs |
( |
( |
IT and computing |
( |
( |
Telecommunications |
( |
( |
Printing, postage and stationery |
( |
( |
Charitable donations |
( |
- |
Subscriptions |
( |
( |
Other costs |
( |
( |
Other operating income |
||
Other operating income |
|
|
Other items |
||
Profit on ordinary activities before finance charges and interest |
17,466 |
59,923 |
Thiss Studio Ltd
iXBRL Detailed Profit and Loss Account for the Year Ended 31 August 2024
2024 |
2023 |
|
Foreign exchange loss included in finance income |
( |
( |
Profit on ordinary activities before taxation |
|
|
Tax on profit or loss on ordinary activities |
|
( |
Profit for the financial year |
|
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