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REGISTERED NUMBER: 08497259 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SHOP STUDIO LTD

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHOP STUDIO LTD

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTORS: N J Harris
T Hodgkinson





SECRETARY: Mrs E C Harris





REGISTERED OFFICE: Spike Design
133 Cumberland Road
Bristol
BS1 6UX





REGISTERED NUMBER: 08497259 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,171 50,481

CURRENT ASSETS
Debtors 5 72,318 67,394
Cash at bank 694,944 498,431
767,262 565,825
CREDITORS
Amounts falling due within one year 6 156,509 85,019
NET CURRENT ASSETS 610,753 480,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

666,924

531,287

PROVISIONS FOR LIABILITIES 8 13,808 12,386
NET ASSETS 653,116 518,901

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 653,016 518,801
SHAREHOLDERS' FUNDS 653,116 518,901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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:





N J Harris - Director


SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

Shop Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Turnover in respect of services spanning a reporting date is recognised as the related services are performed or provided, in accordance with the specific terms of the contract with each customer, including estimates of amounts not invoiced (included as accrued income within debtors) and amounts invoiced in advance of the stage of completion (included as deferred income within creditors).

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The directors have reviewed the going concern status of the business for the foreseeable future as best they can and fully expect that the company will remain a going concern and will have sufficient working capital to meet its requirements for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Pension costs and other post-retirement benefits
The company makes contributions to defined contribution pension schemes and these are charged to profit or loss as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and those actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 34,548 146,898 181,446
Additions - 17,679 17,679
At 30 April 2024 34,548 164,577 199,125
DEPRECIATION
At 1 May 2023 17,458 113,507 130,965
Charge for year 1,643 10,346 11,989
At 30 April 2024 19,101 123,853 142,954
NET BOOK VALUE
At 30 April 2024 15,447 40,724 56,171
At 30 April 2023 17,090 33,391 50,481

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,420 51,720
Other debtors 2,221 2,221
Prepayments and accrued income 66,677 13,453
72,318 67,394

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21 6,920
Corporation tax 101,559 40,622
VAT 14,475 12,954
Other creditors 3,830 2,450
Directors' current accounts 2,198 2,198
Accruals and deferred income 34,426 19,875
156,509 85,019

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 5,995 3,794

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 14,043 12,620
Other timing differences (235 ) (234 )
13,808 12,386

SHOP STUDIO LTD (REGISTERED NUMBER: 08497259)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 12,386
Accelerated capital allowances 1,423
Other timing differences (1 )
Balance at 30 April 2024 13,808

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1.00 40 40
50 Ordinary B £1.00 50 50
10 Ordinary C £1.00 10 10
100 100

10. RELATED PARTY DISCLOSURES

At 30 April 2024 the company owed £1,400 (2023 - £1,400) to N Harris and owed £798 (2023 - £798) to T Hodgkinson in respect of funds advanced to the company. The balances are unsecured, repayable on demand and do not attract any interest charges.

11. ULTIMATE CONTROLLING PARTY

There is no one ultimate controlling party of the company.