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Registered number: 11935233
Vovi Studio Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11935233
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 933 -
Tangible Assets 5 13,679 18,737
14,612 18,737
CURRENT ASSETS
Debtors 6 116,269 134,127
Cash at bank and in hand 5,589 2,625
121,858 136,752
Creditors: Amounts Falling Due Within One Year 7 (236,493 ) (160,305 )
NET CURRENT ASSETS (LIABILITIES) (114,635 ) (23,553 )
TOTAL ASSETS LESS CURRENT LIABILITIES (100,023 ) (4,816 )
Creditors: Amounts Falling Due After More Than One Year 8 (33,471 ) (76,825 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,599 ) (3,560 )
NET LIABILITIES (136,093 ) (85,201 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (136,095 ) (85,203 )
SHAREHOLDERS' FUNDS (136,093) (85,201)
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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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexander Rook
Director
31st January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vovi Studio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11935233 . The registered office is 16 Blackfriars Street, Manchester, M3 5BQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Trademarks. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 13)
8 13
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 May 2023 -
Additions 1,009
As at 30 April 2024 1,009
Amortisation
As at 1 May 2023 -
Provided during the period 76
As at 30 April 2024 76
Net Book Value
As at 30 April 2024 933
As at 1 May 2023 -
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 1,253 23,393 24,646
Additions 1,272 117 1,389
As at 30 April 2024 2,525 23,510 26,035
Depreciation
As at 1 May 2023 522 5,387 5,909
Provided during the period 592 5,855 6,447
As at 30 April 2024 1,114 11,242 12,356
Net Book Value
As at 30 April 2024 1,411 12,268 13,679
As at 1 May 2023 731 18,006 18,737
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,344 124,232
Prepayments and accrued income 32,395 5,101
Other debtors 16,800 4,794
Corporation tax recoverable assets 25,730 -
116,269 134,127
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,838 3,806
Trade creditors 28,934 16,429
Other loans 28,930 14,232
Other taxes and social security 123,692 59,534
VAT 29,758 42,230
Net wages 17,544 17,616
Other creditors 4,679 2,863
Other creditors (1) 1,118 948
Accruals and deferred income - 2,647
236,493 160,305
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,043
Other loans - 25,267
Directors loan account 33,471 50,515
33,471 76,825
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,838 3,806
Later than one year and not later than five years - 1,043
1,838 4,849
1,838 4,849
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 533
- 533
12. Related Party Transactions
Alex RookShareholder and a Director of Vovi Studio Limited.As at the Year End April 2024, Vovi Studio Limited owes an amount of £27,522 to Alex Rook

Alex Rook

Shareholder and a Director of Vovi Studio Limited.

As at the Year End April 2024, Vovi Studio Limited owes an amount of £27,522 to Alex Rook

Tom Thomson JonesShareholder and a Director of Vovi Studio Limited.As at the Year End April 2024, Vovi Studio Limited owes an amount of £5,949 to Tom Thomson Jones

Tom Thomson Jones

Shareholder and a Director of Vovi Studio Limited.

As at the Year End April 2024, Vovi Studio Limited owes an amount of £5,949 to Tom Thomson Jones

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