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REGISTERED NUMBER: 10614774 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

DAYTRIP STUDIO LIMITED

DAYTRIP STUDIO LIMITED (REGISTERED NUMBER: 10614774)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


DAYTRIP STUDIO LIMITED (REGISTERED NUMBER: 10614774)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 41,260 32,355

CURRENT ASSETS
Debtors 5 67,962 61,964
Cash at bank and in hand 17,317 45,471
85,279 107,435
CREDITORS
Amounts falling due within one year 6 100,305 109,193
NET CURRENT LIABILITIES (15,026 ) (1,758 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,234

30,597

CREDITORS
Amounts falling due after more than one year 7 (12,502 ) (22,369 )

PROVISIONS FOR LIABILITIES 8 (9,760 ) (5,651 )
NET ASSETS 3,972 2,577

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,971 2,576
3,972 2,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:



Mr I Halstead - Director


DAYTRIP STUDIO LIMITED (REGISTERED NUMBER: 10614774)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Daytrip Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10614774

Registered office: 1 Kings Avenue
Winchmore Hill
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Revenue is recognised when risk and rewards of ownership have been transferred.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Leasehold Premises 15% on a reducing balance method
Plant and Machinery 25% on a reducing balance method

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.


DAYTRIP STUDIO LIMITED (REGISTERED NUMBER: 10614774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 5,003 61,793 8,769 75,565
Additions - 16,731 - 16,731
At 29 February 2024 5,003 78,524 8,769 92,296
DEPRECIATION
At 1 March 2023 2,392 40,786 32 43,210
Charge for year 392 5,250 2,184 7,826
At 29 February 2024 2,784 46,036 2,216 51,036
NET BOOK VALUE
At 29 February 2024 2,219 32,488 6,553 41,260
At 28 February 2023 2,611 21,007 8,737 32,355

DAYTRIP STUDIO LIMITED (REGISTERED NUMBER: 10614774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,532 30,952
Other debtors 24,430 31,012
67,962 61,964

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,934 10,000
Trade creditors 8,311 44,817
Taxation and social security 48,805 9,945
Other creditors 33,255 44,431
100,305 109,193

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,502 22,369

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,760 5,651

Deferred
tax
£   
Balance at 1 March 2023 5,651
Provided during year 4,109
Balance at 29 February 2024 9,760

9. OTHER FINANCIAL COMMITMENTS

The company has annual financial commitments of £24,000 (2023: £45,000) under non-cancellable operating leases for the next one year.

10. RELATED PARTY DISCLOSURES

Included in the other creditors due within one year is an amount of £1,367 (2023: £Nil) due to the director of the company. Interest has been charged at the rate of 2.25% per annum on the overdrawn balance during the period. The balance as at the year end was interest free and repayable on demand.