Company Registration No. 03783442 (England and Wales)
WOUNDED BUFFALO SOUND STUDIOS LTD
Unaudited accounts
for the year ended 31 May 2024
WOUNDED BUFFALO SOUND STUDIOS LTD
Unaudited accounts
Contents
WOUNDED BUFFALO SOUND STUDIOS LTD
Company Information
for the year ended 31 May 2024
Directors
Timothy Owens
Wendy Ogden
Company Number
03783442 (England and Wales)
Registered Office
19A HAMPTON LANE
BRISTOL
BS6 6LE
WOUNDED BUFFALO SOUND STUDIOS LTD
Statement of financial position
as at 31 May 2024
Tangible assets
73,334
64,033
Inventories
195,831
123,220
Cash at bank and in hand
350,075
242,268
Creditors: amounts falling due within one year
(161,044)
(222,499)
Net current assets
425,665
247,745
Net assets
498,999
311,778
Called up share capital
100
100
Profit and loss account
498,899
311,678
Shareholders' funds
498,999
311,778
For the year ending 31 May 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 3 October 2024 and were signed on its behalf by
Timothy Owens
Director
Company Registration No. 03783442
WOUNDED BUFFALO SOUND STUDIOS LTD
Notes to the Accounts
for the year ended 31 May 2024
WOUNDED BUFFALO SOUND STUDIOS LTD is a private company, limited by shares, registered in England and Wales, registration number 03783442. The registered office is 19A HAMPTON LANE, BRISTOL, BS6 6LE.
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:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
WOUNDED BUFFALO SOUND STUDIOS LTD
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
863,468
37,796
901,264
Disposals
(14,417)
-
(14,417)
At 31 May 2024
902,815
37,796
940,611
At 1 June 2023
808,884
28,347
837,231
Charge for the year
35,014
9,449
44,463
On disposals
(14,417)
-
(14,417)
At 31 May 2024
829,481
37,796
867,277
At 31 May 2024
73,334
-
73,334
At 31 May 2023
54,584
9,449
64,033
Work in progress
195,831
123,220
Amounts falling due within one year
Trade debtors
27,996
89,790
Amounts falling due after more than one year
Accrued income and prepayments
12,807
14,966
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
815
13
Obligations under finance leases and hire purchase contracts
4,547
4,547
Trade creditors
6,227
43,974
Taxes and social security
78,710
52,659
Loans from directors
14,715
16,623
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
WOUNDED BUFFALO SOUND STUDIOS LTD
Notes to the Accounts
for the year ended 31 May 2024
9
Transactions with related parties
During the year, the Company made rent payments for a commercial property totaling £50,000 to a partnership owned by the shareholders.
10
Average number of employees
During the year the average number of employees was 7 (2023: 7).