Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12620429 2023-06-01 2024-05-31 12620429 2022-06-01 2023-05-31 12620429 2024-05-31 12620429 2023-05-31 12620429 c:Director1 2023-06-01 2024-05-31 12620429 d:PlantMachinery 2023-06-01 2024-05-31 12620429 d:PlantMachinery 2024-05-31 12620429 d:PlantMachinery 2023-05-31 12620429 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 12620429 d:OfficeEquipment 2023-06-01 2024-05-31 12620429 d:OfficeEquipment 2024-05-31 12620429 d:OfficeEquipment 2023-05-31 12620429 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 12620429 d:ComputerEquipment 2023-06-01 2024-05-31 12620429 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 12620429 d:CurrentFinancialInstruments 2024-05-31 12620429 d:CurrentFinancialInstruments 2023-05-31 12620429 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 12620429 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12620429 d:ShareCapital 2024-05-31 12620429 d:ShareCapital 2023-05-31 12620429 d:RetainedEarningsAccumulatedLosses 2024-05-31 12620429 d:RetainedEarningsAccumulatedLosses 2023-05-31 12620429 c:FRS102 2023-06-01 2024-05-31 12620429 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12620429 c:FullAccounts 2023-06-01 2024-05-31 12620429 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12620429 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 12620429









INTERGALACTIC STUDIOS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
INTERGALACTIC STUDIOS LTD
REGISTERED NUMBER: 12620429

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,006
3,624

  
1,006
3,624

Current assets
  

Debtors: amounts falling due within one year
 5 
91,742
97,375

Cash at bank and in hand
 6 
13,140
2,468

  
104,882
99,843

Creditors: amounts falling due within one year
 7 
(65,775)
(81,046)

Net current assets
  
 
 
39,107
 
 
18,797

Total assets less current liabilities
  
40,113
22,421

  

Net assets
  
40,113
22,421


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
40,109
22,417

  
40,113
22,421


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 December 2024.



Page 1

 
INTERGALACTIC STUDIOS LTD
REGISTERED NUMBER: 12620429
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


R J  J B Danniells
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
INTERGALACTIC STUDIOS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Intergalactic Studios 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.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
INTERGALACTIC STUDIOS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Equipment
-
25%
Computer equipment
-
50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
INTERGALACTIC STUDIOS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 5

 
INTERGALACTIC STUDIOS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2023
1,902
11,101
13,003


Additions
749
-
749



At 31 May 2024

2,651
11,101
13,752



Depreciation


At 1 June 2023
983
8,395
9,378


Charge for the year on owned assets
663
2,705
3,368



At 31 May 2024

1,646
11,100
12,746



Net book value



At 31 May 2024
1,005
1
1,006



At 31 May 2023
919
2,705
3,624


5.


Debtors

2024
2023
£
£


Trade debtors
89,556
97,369

Other debtors
2,186
6

91,742
97,375



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,140
2,468

13,140
2,468


Page 6

 
INTERGALACTIC STUDIOS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,613
33,119

Corporation tax
13,030
17,302

Other taxation and social security
23,246
26,644

Other creditors
7,999
660

Accruals and deferred income
10,887
3,321

65,775
81,046


 
Page 7