Registered number
14008712
Willow Studio Limited
Filleted Accounts
31 March 2024
Willow Studio Limited
Registered number: 14008712
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 400 436
Investments 4 210,616 210,616
211,016 211,052
Current assets
Debtors 5 41,200 1,200
Cash at bank and in hand 3,626 2,816
44,826 4,016
Creditors: amounts falling due within one year 6 (210,183) (211,749)
Net current liabilities (165,357) (207,733)
Net assets 45,659 3,319
Capital and reserves
Called up share capital 2 2
Profit and loss account 45,657 3,317
Shareholders' funds 45,659 3,319
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Barker
Director
Approved by the board on 26 January 2025
Willow Studio Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of property and rent is recognised according to the period for which it is receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery Total
£ £
Cost
At 1 April 2023 581 581
Additions 146 146
At 31 March 2024 727 727
Depreciation
At 1 April 2023 145 145
Charge for the year 182 182
At 31 March 2024 327 327
Net book value
At 31 March 2024 400 400
At 31 March 2023 436 436
4 Investments
Other
investments Total
£ £
Cost
At 1 April 2023 210,616 210,616
At 31 March 2024 210,616 210,616
Historical cost
At 1 April 2023 210,616 210,616
At 31 March 2024 210,616 210,616
The directors believe that the market value of the property, Willow Studio, at the balance sheet date is £210,616.
5 Debtors 2024 2023
£ £
Other debtors 41,200 1,200
41,200 1,200
6 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 206,255 211,248
Taxation and social security costs 2,928 -
Other creditors 1,000 501
210,183 211,749
7 Related party transactions 2024 2023
£
Stolon Studio Limited - owned and controlled by the directors
Amounts due to/(from) related party 206,255 211,248
Rents receivable from related party 22,000 7,200
8 Other information
Willow Studio Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Durham Avenue
Gidea Park
Romford
RM2 6JS
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