Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3022023-05-01falsestudio and music support2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08478161 2023-05-01 2024-04-30 08478161 2022-05-01 2023-04-30 08478161 2024-04-30 08478161 2023-04-30 08478161 c:Director1 2023-05-01 2024-04-30 08478161 c:Director2 2023-05-01 2024-04-30 08478161 c:RegisteredOffice 2023-05-01 2024-04-30 08478161 d:OfficeEquipment 2023-05-01 2024-04-30 08478161 d:OfficeEquipment 2024-04-30 08478161 d:OfficeEquipment 2023-04-30 08478161 d:CurrentFinancialInstruments 2024-04-30 08478161 d:CurrentFinancialInstruments 2023-04-30 08478161 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08478161 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08478161 d:ShareCapital 2024-04-30 08478161 d:ShareCapital 2023-04-30 08478161 d:RetainedEarningsAccumulatedLosses 2024-04-30 08478161 d:RetainedEarningsAccumulatedLosses 2023-04-30 08478161 c:OrdinaryShareClass1 2023-05-01 2024-04-30 08478161 c:OrdinaryShareClass1 2024-04-30 08478161 c:FRS102 2023-05-01 2024-04-30 08478161 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08478161 c:FullAccounts 2023-05-01 2024-04-30 08478161 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08478161 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08478161










STUDIO SALES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
STUDIO SALES LTD
 
 
COMPANY INFORMATION


Directors
Howard Turner 
Alexander Philip Turner 




Registered number
08478161



Registered office
12 Church Street

Cromer

England

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
STUDIO SALES LTD
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 7


 
STUDIO SALES LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STUDIO SALES LTD
FOR THE YEAR ENDED 30 APRIL 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 Studio Sales Ltd for the year ended 30 April 2024 which comprise  the Balance Sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Studio Sales Ltd, as a body, in accordance with the terms of our engagement letter dated 18 January 2024Our work has been undertaken solely to prepare for your approval the financial statements of Studio Sales Ltd and state those matters that we have agreed to state to the Board of Directors of Studio Sales Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Studio Sales Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Studio Sales Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Studio Sales Ltd. You consider that Studio Sales Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Studio Sales 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 financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
27 January 2025
Page 1

 
STUDIO SALES LTD
REGISTERED NUMBER: 08478161

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,022
38

Cash at bank and in hand
  
2,151
930

  
3,173
968

Creditors: amounts falling due within one year
 6 
(10,581)
(11,665)

Net current liabilities
  
 
 
(7,408)
 
 
(10,697)

Total assets less current liabilities
  
(7,408)
(10,697)

  

Net liabilities
  
(7,408)
(10,697)


Capital and reserves
  

Share capital
 7 
1
1

Profit and loss account
  
(7,409)
(10,698)

  
(7,408)
(10,697)


Page 2

 
STUDIO SALES LTD
REGISTERED NUMBER: 08478161
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Howard Turner
Director

Date: 27 January 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
STUDIO SALES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, England, NR27 9ER.
The Company's principal activity is that of record studio design, equipment supply and installations and consultancy services.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. Although the balance sheet shows a deficit of shareholder's funds at 30 April 2024, the director's consider it appropriate to prepare the financial statements on a going concern basis based upon their continued support. 

 
2.3

Revenue

Revenue is made up of consultancy work done in the year, and studio design and equipment supply, recognised on an accruals basis. The Company is not registered for Value Added Tax.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
STUDIO SALES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments


The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
STUDIO SALES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2023
4,790



At 30 April 2024

4,790



Depreciation


At 1 May 2023
4,790



At 30 April 2024

4,790



Net book value



At 30 April 2024
-



At 30 April 2023
-


5.


Debtors

2024
2023
£
£


Trade debtors
805
-

Prepayments and accrued income
217
38

1,022
38



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
552

Other creditors
9,921
10,513

Accruals and deferred income
660
600

10,581
11,665


Page 6

 
STUDIO SALES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1  Ordinary share of £1.00
1
1



8.


Related party transactions

At the year end the Company owed one of the directors £9,921 (2023 - £10,513). The loan is interest free, repayable on demand and is shown within other creditors in note 6 to the financial statements. 

 
Page 7