T G Studio Interiors Limited
Unaudited Financial Statements
For the year ended 30 April 2024
Pages for Filing with Registrar
Company Registration No. 09780552 (England and Wales)
T G Studio Interiors Limited
Company Information
Directors
Mr. T Griem
Mrs. L Griem
Company number
09780552
Registered office
91 A & 91 B Heath Street
London
United Kingdom
NW3 6SS
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Business address
91 A & 91 B Heath Street
London
United Kingdom
NW3 6SS
T G Studio Interiors Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
T G Studio Interiors Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,299
3,049
Current assets
Debtors
4
54,005
11,593
Cash at bank and in hand
54,842
30,877
108,847
42,470
Creditors: amounts falling due within one year
5
(85,077)
(42,591)
Net current assets/(liabilities)
23,770
(121)
Net assets
25,069
2,928
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
24,969
2,828
Total equity
25,069
2,928
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
Mr. T Griem
Director
Company Registration No. 09780552
T G Studio Interiors Limited
Notes to the Financial Statements
For the year ended 30 April 2024
Page 2
1
Accounting policies
Company information
T G Studio Interiors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 91 A & 91 B Heath Street, London, England, NW3 6SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
Straight line method 33.33%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
T G Studio Interiors Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
Page 3
1.5
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
8,178
Depreciation and impairment
At 1 May 2023
5,129
Depreciation charged in the year
1,750
At 30 April 2024
6,879
Carrying amount
At 30 April 2024
1,299
At 30 April 2023
3,049
T G Studio Interiors Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 4
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,611
498
Other debtors
49,394
11,095
54,005
11,593
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,566
1,800
Corporation tax
16,518
6,814
Other taxation and social security
195
Other creditors
405
8,002
Accruals and deferred income
47,588
25,780
85,077
42,591
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100