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Registered number: 03586381
Studio 37 Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Julian Robert Walker
FMAAT
J R Walker Ltd
11b Boundary Road
Brackley
Northamptonshire
NN13 7ES
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 03586381
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,591 18,848
Investments 5 12,494 12,494
28,085 31,342
CURRENT ASSETS
Stocks 6 26,565 28,900
Debtors 7 95,294 114,489
Cash at bank and in hand 15,760 24,595
137,619 167,984
Creditors: Amounts Falling Due Within One Year 8 (1,224 ) (1,853 )
NET CURRENT ASSETS (LIABILITIES) 136,395 166,131
TOTAL ASSETS LESS CURRENT LIABILITIES 164,480 197,473
NET ASSETS 164,480 197,473
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement 164,479 197,472
SHAREHOLDERS' FUNDS 164,480 197,473
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For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
T F Shepherd-Smith
Director
24th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Studio 37 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03586381 . The registered office is Whitfield Old Farm, Mill Road, Whitfield, Brackley, NN13 5TQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% per annum reducing balance basis
Fixtures & Fittings 15% per annum reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 10,747 20,430 31,177
As at 30 June 2024 10,747 20,430 31,177
Depreciation
As at 1 July 2023 2,149 10,180 12,329
Provided during the period 1,720 1,537 3,257
As at 30 June 2024 3,869 11,717 15,586
Net Book Value
As at 30 June 2024 6,878 8,713 15,591
As at 1 July 2023 8,598 10,250 18,848
5. Investments
Unlisted
£
Cost
As at 1 July 2023 12,494
As at 30 June 2024 12,494
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 12,494
As at 1 July 2023 12,494
6. Stocks
2024 2023
£ £
Work in progress 26,565 28,900
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 86,448 86,489
Other debtors 8,846 28,000
95,294 114,489
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 173
Accruals and deferred income 1,224 1,680
1,224 1,853
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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