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COMPANY REGISTRATION NUMBER: 14026775
Tin Hat Studio Limited
Filleted Unaudited Financial Statements
31 August 2024
Tin Hat Studio Limited
Statement of Financial Position
31 August 2024
31 Aug 24
30 Apr 23
Note
£
£
£
£
Fixed assets
Tangible assets
6
803
Current assets
Cash at bank and in hand
39
112
Creditors: amounts falling due within one year
7
1,457
1,693
-------
-------
Net current liabilities
1,418
1,581
-------
-------
Total assets less current liabilities
( 1,418)
( 778)
-------
----
Net liabilities
( 1,418)
( 778)
-------
----
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
( 1,419)
( 779)
-------
----
Shareholders deficit
( 1,418)
( 778)
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Aran Quillinan
Director
Company registration number: 14026775
Tin Hat Studio Limited
Notes to the Financial Statements
Period from 1 May 2023 to 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
4. Average number of employees
The average number of employees during the year was 1 (2023: 1), which consisted of the director only.
5. Dividends
31 Aug 24
30 Apr 23
£
£
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period )
4,100
----
-------
6. Tangible assets
Equipment
£
Cost
At 1 May 2023
926
Disposals
( 926)
----
At 31 August 2024
----
Depreciation
At 1 May 2023
123
Charge for the period
247
Disposals
( 370)
----
At 31 August 2024
----
Carrying amount
At 31 August 2024
----
At 30 April 2023
803
----
7. Creditors: amounts falling due within one year
31 Aug 24
30 Apr 23
£
£
Accruals and deferred income
882
840
Corporation tax
38
532
Director loan accounts
537
321
-------
-------
1,457
1,693
-------
-------
8. Called up share capital
Issued, called up and fully paid
31 Aug 24
30 Apr 23
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Related party transactions
At the year end the company owed the director £737 (2023: £321), which is shown within other creditors.