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Company Registration No. 07408252 (England and Wales)
Studio Lau Ltd Unaudited accounts for the year ended 30 April 2024
Studio Lau Ltd Unaudited accounts Contents
Page
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Studio Lau Ltd Company Information for the year ended 30 April 2024
Directors
Jamie Lau Elizabeth Lau
Company Number
07408252 (England and Wales)
Registered Office
Stean Street Studios Unit 1b 3-5 Dunston Road Haggerston London E8 4EH England
Accountants
KMG Accountancy Ltd The Offices 57 Newtown Road Hove BN3 7BA
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Studio Lau 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 accounts of Studio Lau Ltd for the year ended 30 April 2024 as set out on pages 5 - 8 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 icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
KMG Accountancy Ltd Chartered Accountants The Offices 57 Newtown Road Hove BN3 7BA 30 January 2025
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Studio Lau Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
959,708 
898,062 
Current assets
Debtors
23,158 
1,449 
Cash at bank and in hand
3,234 
2,611 
26,392 
4,060 
Creditors: amounts falling due within one year
(80,421)
(64,981)
Net current liabilities
(54,029)
(60,921)
Total assets less current liabilities
905,679 
837,141 
Creditors: amounts falling due after more than one year
(81,064)
(86,692)
Provisions for liabilities
Deferred tax
(170,833)
(158,333)
Net assets
653,782 
592,116 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
524,045 
486,545 
Profit and loss account
129,637 
105,471 
Shareholders' funds
653,782 
592,116 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by
Jamie Lau Director Company Registration No. 07408252
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Studio Lau Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Studio Lau Ltd is a private company, limited by shares, registered in England and Wales, registration number 07408252. The registered office is Stean Street Studios Unit 1b, 3-5 Dunston Road, Haggerston, London, E8 4EH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
5 years
Fixtures & fittings
5 years
Computer equipment
3 years
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Studio Lau Ltd Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At cost 
At cost 
At 1 May 2023
900,000 
- 
8,481 
11,727 
920,208 
Additions
- 
16,598 
- 
1,550 
18,148 
Revaluations
50,000 
- 
- 
- 
50,000 
At 30 April 2024
950,000 
16,598 
8,481 
13,277 
988,356 
Depreciation
At 1 May 2023
6,933 
- 
8,481 
6,732 
22,146 
Charge for the year
- 
3,320 
- 
3,182 
6,502 
At 30 April 2024
6,933 
3,320 
8,481 
9,914 
28,648 
Net book value
At 30 April 2024
943,067 
13,278 
- 
3,363 
959,708 
At 30 April 2023
893,067 
- 
- 
4,995 
898,062 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,058 
1,449 
Accrued income and prepayments
5,100 
- 
23,158 
1,449 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
29,000 
29,000 
VAT
9,837 
4,554 
Trade creditors
2,177 
1,089 
Taxes and social security
27,153 
14,574 
Other creditors
11,813 
6,824 
Loans from directors
441 
8,940 
80,421 
64,981 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
63,768 
86,692 
Obligations under finance leases and hire purchase contracts
17,296 
- 
81,064 
86,692 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Studio Lau Ltd Notes to the Accounts for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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