IRIS Accounts Production v24.3.2.46 05499434 director 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054994342023-08-31054994342024-08-31054994342023-09-012024-08-31054994342022-08-31054994342022-09-012023-08-31054994342023-08-3105499434ns15:EnglandWales2023-09-012024-08-3105499434ns14:PoundSterling2023-09-012024-08-3105499434ns10:Director12023-09-012024-08-3105499434ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3105499434ns10:SmallEntities2023-09-012024-08-3105499434ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3105499434ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3105499434ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3105499434ns10:FullAccounts2023-09-012024-08-310549943412023-09-012024-08-3105499434ns10:RegisteredOffice2023-09-012024-08-3105499434ns5:CurrentFinancialInstruments2024-08-3105499434ns5:CurrentFinancialInstruments2023-08-3105499434ns5:Non-currentFinancialInstruments2024-08-3105499434ns5:Non-currentFinancialInstruments2023-08-3105499434ns5:ShareCapital2024-08-3105499434ns5:ShareCapital2023-08-3105499434ns5:SharePremium2024-08-3105499434ns5:SharePremium2023-08-3105499434ns5:RetainedEarningsAccumulatedLosses2024-08-3105499434ns5:RetainedEarningsAccumulatedLosses2023-08-3105499434ns5:NetGoodwill2023-09-012024-08-3105499434ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3105499434ns5:PlantMachinery2023-09-012024-08-3105499434ns5:MotorVehicles2023-09-012024-08-3105499434ns5:NetGoodwill2023-08-3105499434ns5:NetGoodwill2024-08-3105499434ns5:NetGoodwill2023-08-3105499434ns5:PlantMachinery2023-08-3105499434ns5:MotorVehicles2023-08-3105499434ns5:PlantMachinery2024-08-3105499434ns5:MotorVehicles2024-08-3105499434ns5:PlantMachinery2023-08-3105499434ns5:MotorVehicles2023-08-3105499434ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3105499434ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3105499434ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3105499434ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3105499434ns5:Secured2024-08-3105499434ns5:Secured2023-08-3105499434ns5:RetainedEarningsAccumulatedLosses2023-08-3105499434ns5:SharePremium2023-08-3105499434ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-31
REGISTERED NUMBER: 05499434 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Science Studio Limited

Science Studio Limited (Registered number: 05499434)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Science Studio Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: S Kean





REGISTERED OFFICE: 12 Enterprise Court
Queens Meadow Business Park
Hartlepool
TS25 2FE





REGISTERED NUMBER: 05499434 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Science Studio Limited (Registered number: 05499434)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 1,123 1,404
1,123 1,404

CURRENT ASSETS
Stocks 293,655 211,932
Debtors 5 137,637 118,126
Cash at bank 1,046 957
432,338 331,015
CREDITORS
Amounts falling due within one year 6 (203,513 ) (201,040 )
NET CURRENT ASSETS 228,825 129,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,948

131,379

CREDITORS
Amounts falling due after more than one
year

7

(7,500

)

(17,500

)
NET ASSETS 222,448 113,879

CAPITAL AND RESERVES
Called up share capital 150 150
Share premium 9 68,754 68,754
Retained earnings 9 153,544 44,975
222,448 113,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Science Studio Limited (Registered number: 05499434)

Balance Sheet - continued
31 August 2024


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 director and authorised for issue on 17 January 2025 and were signed by:





S Kean - Director


Science Studio Limited (Registered number: 05499434)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of eleven years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Science Studio Limited (Registered number: 05499434)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 55,000
AMORTISATION
At 1 September 2023
and 31 August 2024 55,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 14,941 32,100 47,041
DEPRECIATION
At 1 September 2023 13,537 32,100 45,637
Charge for year 281 - 281
At 31 August 2024 13,818 32,100 45,918
NET BOOK VALUE
At 31 August 2024 1,123 - 1,123
At 31 August 2023 1,404 - 1,404

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 136,958 111,875
VAT - 5,643
Prepayments and accrued income 679 608
137,637 118,126

Science Studio Limited (Registered number: 05499434)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 148,432 149,010
Pension Payable 1,680 1,102
Corporation tax 34,323 12,933
Social security and other tax 2,212 2,224
VAT 3,613 -
Directors' current accounts 688 23,396
Accruals and deferred income 2,565 2,375
203,513 201,040

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,500 17,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 17,500 27,500

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 September 2023 44,975 68,754 113,729
Profit for the year 109,069 109,069
Dividends (500 ) (500 )
At 31 August 2024 153,544 68,754 222,298