Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-313297retail of pottery and similar items2023-04-01false6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11009569 2023-04-01 2024-03-31 11009569 2022-04-01 2023-03-31 11009569 2024-03-31 11009569 2023-03-31 11009569 c:Director1 2023-04-01 2024-03-31 11009569 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 11009569 d:Buildings d:ShortLeaseholdAssets 2024-03-31 11009569 d:Buildings d:ShortLeaseholdAssets 2023-03-31 11009569 d:PlantMachinery 2023-04-01 2024-03-31 11009569 d:PlantMachinery 2024-03-31 11009569 d:PlantMachinery 2023-03-31 11009569 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11009569 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 11009569 d:MotorVehicles 2023-04-01 2024-03-31 11009569 d:MotorVehicles 2024-03-31 11009569 d:MotorVehicles 2023-03-31 11009569 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11009569 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 11009569 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11009569 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 11009569 d:CurrentFinancialInstruments 2024-03-31 11009569 d:CurrentFinancialInstruments 2023-03-31 11009569 d:Non-currentFinancialInstruments 2024-03-31 11009569 d:Non-currentFinancialInstruments 2023-03-31 11009569 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11009569 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11009569 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11009569 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11009569 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11009569 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11009569 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11009569 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11009569 d:ShareCapital 2024-03-31 11009569 d:ShareCapital 2023-03-31 11009569 d:RetainedEarningsAccumulatedLosses 2024-03-31 11009569 d:RetainedEarningsAccumulatedLosses 2023-03-31 11009569 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11009569 c:OrdinaryShareClass1 2024-03-31 11009569 c:OrdinaryShareClass1 2023-03-31 11009569 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11009569 c:OrdinaryShareClass2 2024-03-31 11009569 c:OrdinaryShareClass2 2023-03-31 11009569 c:OrdinaryShareClass3 2023-04-01 2024-03-31 11009569 c:OrdinaryShareClass3 2024-03-31 11009569 c:OrdinaryShareClass3 2023-03-31 11009569 c:FRS102 2023-04-01 2024-03-31 11009569 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11009569 c:FullAccounts 2023-04-01 2024-03-31 11009569 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11009569 d:WithinOneYear 2024-03-31 11009569 d:WithinOneYear 2023-03-31 11009569 d:BetweenOneFiveYears 2024-03-31 11009569 d:BetweenOneFiveYears 2023-03-31 11009569 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 11009569 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 11009569 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 11009569 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 11009569 2 2023-04-01 2024-03-31 11009569 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 11009569 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 11009569 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11009569









STUDIO @ POOLE (RETAIL) LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
STUDIO @ POOLE (RETAIL) LTD
REGISTERED NUMBER: 11009569

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,328
18,988

Current assets
  

Stocks
 5 
142,000
174,000

Debtors: amounts falling due within one year
 6 
7,585
1,937

Cash at bank and in hand
 7 
3,256
3,780

  
152,841
179,717

Creditors: amounts falling due within one year
 8 
(337,303)
(283,739)

Net current liabilities
  
 
 
(184,462)
 
 
(104,022)

Total assets less current liabilities
  
(170,134)
(85,034)

Creditors: amounts falling due after more than one year
 9 
(20,000)
(38,875)

  

Net liabilities
  
(190,134)
(123,909)


Capital and reserves
  

Called up share capital 
 12 
150
150

Profit and loss account
  
(190,284)
(124,059)

  
(190,134)
(123,909)


Page 1

 
STUDIO @ POOLE (RETAIL) LTD
REGISTERED NUMBER: 11009569
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 11 March 2025.






Mr J P Lejeune
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Studio @ Poole (Retail) Ltd is a company limted by shares, incorporated in England. The company's principal activity is that of the retail of pottery and similar items with its trading address being 2 The Quay, Poole, Dorset, BH15 1HU.  The registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Revenue 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 revenue 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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

 
2.7

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.

Page 4

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over life of lease
Plant and machinery
-
25%
Motor vehicles
-
25%

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 6

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2023
3,187
18,173
14,999
36,359



At 31 March 2024

3,187
18,173
14,999
36,359



Depreciation


At 1 April 2023
1,543
12,078
3,750
17,371


Charge for the year on owned assets
329
1,519
-
1,848


Charge for the year on financed assets
-
-
2,812
2,812



At 31 March 2024

1,872
13,597
6,562
22,031



Net book value



At 31 March 2024
1,315
4,576
8,437
14,328



At 31 March 2023
1,644
6,095
11,249
18,988

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
8,437
11,249


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
142,000
174,000


Page 7

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,945
236

Other debtors
4,640
1,701

7,585
1,937



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,256
3,780



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
16,000
16,000

Trade creditors
10,561
7,355

Obligations under finance lease and hire purchase contracts
2,875
3,444

Other creditors
97,238
96,826

Accruals and deferred income
210,629
160,114

337,303
283,739



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,000
36,000

Net obligations under finance leases and hire purchase contracts
-
2,875

20,000
38,875


The bounce back loan is both interest and repayment free for the first twelve months. After such time the loan is
repayable over 5 years at an interest rate of 2.5%.

Page 8

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
16,000
16,000

Amounts falling due 1-2 years

Bank loans
16,000
16,000

Amounts falling due 2-5 years

Bank loans
4,000
20,000


36,000
52,000



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
2,875
3,444

Between 1-5 years
-
2,875

2,875
6,319


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
50 (2023 - 50) Ordinary B shares of £1.00 each
50
50
50 (2023 - 50) Oridnary C shares of £1.00 each
50
50

150

150


The Ordinary A, B and C Shares shall rank pari passu in terms of voting rights and entitlement to participation in a winding up with the exception of dividend rights, which shall be independent for each class.


Page 9

 
STUDIO @ POOLE (RETAIL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £853 (2023 - £888). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.


14.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
45,000
47,500

Later than 1 year and not later than 5 years
115,000
157,500

160,000
205,000


15.


Related party transactions



2024
2023
£
£

Purchases from connected parties
-
15,000
Amounts owed to connected parties
57,791
57,791

 
Page 10