Registered number
14008712
Willow Studio Limited
Filleted Accounts
30 April 2024
Willow Studio Limited
Registered number: 14008712
Balance Sheet
as at 30 April 2024
Notes 30/4/24 31/3/24
£ £
Fixed assets
Tangible assets 3 400 400
Investments 4 210,616 210,616
211,016 211,016
Current assets
Debtors 5 57,254 41,200
Cash at bank and in hand 3,932 3,626
61,186 44,826
Creditors: amounts falling due within one year 6 (221,508) (210,183)
Net current liabilities (160,322) (165,357)
Net assets 50,694 45,659
Capital and reserves
Called up share capital 2 2
Profit and loss account 50,692 45,657
Shareholders' funds 50,694 45,659
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 period from 1 April 2024 to 30 April 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).
Change of year end date
The company has changed its year end date from 31 March to 30 April. Current year figures are reported for the month ended 30 April 2024 and comparative figures are reported for the 12 months ended 31 March 2024.
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 30/4/24 31/3/24
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery Total
£ £
Cost
At 1 April 2024 727 727
At 30 April 2024 727 727
Depreciation
At 1 April 2024 327 327
At 30 April 2024 327 327
Net book value
At 30 April 2024 400 400
At 31 March 2024 400 400
4 Investments
Other
investments Total
£ £
Cost
At 1 April 2024 210,616 210,616
At 30 April 2024 210,616 210,616
Historical cost
At 1 April 2024 210,616 210,616
At 30 April 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 30/4/24 31/3/24
£ £
Trade debtors 56,054 -
Other debtors 1,200 41,200
57,254 41,200
6 Creditors: amounts falling due within one year 30/4/24 31/3/24
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 215,977 206,255
Taxation and social security costs 4,531 2,928
Other creditors 1,000 1,000
221,508 210,183
7 Related party transactions 30/4/24 31/3/24
£
Stolon Studio Limited - owned and controlled by the directors
Amounts due to/(from) related party 215,977 206,255
Rents receivable from related party 2,000 22,000
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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