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
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
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
Studio Lau Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
959,708
898,062
Cash at bank and in hand
3,234
2,611
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
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
Studio Lau Ltd
Notes to the Accounts
for the year ended 30 April 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
5 years
Computer equipment
3 years
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.
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
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
At 30 April 2024
943,067
13,278
-
3,363
959,708
At 30 April 2023
893,067
-
-
4,995
898,062
Amounts falling due within one year
Trade debtors
18,058
1,449
Accrued income and prepayments
5,100
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
29,000
29,000
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
17,296
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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).