Registered number
05984059
A2 Studio Limited
Filleted Accounts
31 October 2024
A2 Studio Limited
Registered number: 05984059
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,104 7,012
Current assets
Work in progress 16,246 14,234
Debtors 4 10,044 16,345
Cash at bank and in hand 67,056 55,533
93,346 86,112
Creditors: amounts falling due within one year 5 (23,290) (18,727)
Net current assets 70,056 67,385
Net assets 76,160 74,397
Capital and reserves
Called up share capital 110 110
Profit and loss account 76,050 74,287
Shareholders' funds 76,160 74,397
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K. Aksoy
Director
Approved by the board on 28 February 2025
A2 Studio Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Work in progress
Work in progress is measured at the lower of cost and estimated contract price less costs to complete. Cost is determined using the first in first out method.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 8,912 22,005 30,917
Additions - 1,128 1,128
At 31 October 2024 8,912 23,133 32,045
Depreciation
At 1 November 2023 6,506 17,399 23,905
Charge for the year 602 1,434 2,036
At 31 October 2024 7,108 18,833 25,941
Net book value
At 31 October 2024 1,804 4,300 6,104
At 31 October 2023 2,406 4,606 7,012
4 Debtors 2024 2023
£ £
Trade debtors 7,419 13,720
Other debtors 2,625 2,625
10,044 16,345
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,123 974
Taxation and social security costs 18,330 16,225
Other creditors 1,837 1,528
23,290 18,727
6 Loans from directors
Description and conditions B/fwd Introduced Withdrawn C/fwd
£ £ £ £
K. Aksoy
Amount due to the director at the balance sheet date. 1,528 4 - 1,532
1,528 4 - 1,532
7 Related party transactions
Dividends aounting to £18,437 were payable to the director.
8 Controlling party
The company is controlled by the director K. Aksoy and by C. Aksoy who are the members.
9 Other information
A2 Studio Limited is a private company limited by shares and incorporated in England. Its registered office is:
106 - 108 High Street
London
N8 7NT
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