Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01truefalseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03174539 2023-04-01 2024-03-31 03174539 2022-04-01 2023-03-31 03174539 2024-03-31 03174539 2023-03-31 03174539 c:Director1 2023-04-01 2024-03-31 03174539 c:Director2 2023-04-01 2024-03-31 03174539 c:RegisteredOffice 2023-04-01 2024-03-31 03174539 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 03174539 d:Buildings d:ShortLeaseholdAssets 2024-03-31 03174539 d:Buildings d:ShortLeaseholdAssets 2023-03-31 03174539 d:PlantMachinery 2023-04-01 2024-03-31 03174539 d:PlantMachinery 2024-03-31 03174539 d:PlantMachinery 2023-03-31 03174539 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03174539 d:MotorVehicles 2023-04-01 2024-03-31 03174539 d:MotorVehicles 2024-03-31 03174539 d:MotorVehicles 2023-03-31 03174539 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03174539 d:FurnitureFittings 2023-04-01 2024-03-31 03174539 d:FurnitureFittings 2024-03-31 03174539 d:FurnitureFittings 2023-03-31 03174539 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03174539 d:OfficeEquipment 2023-04-01 2024-03-31 03174539 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03174539 d:CurrentFinancialInstruments 2024-03-31 03174539 d:CurrentFinancialInstruments 2023-03-31 03174539 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03174539 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03174539 d:ShareCapital 2024-03-31 03174539 d:ShareCapital 2023-03-31 03174539 d:RetainedEarningsAccumulatedLosses 2024-03-31 03174539 d:RetainedEarningsAccumulatedLosses 2023-03-31 03174539 c:FRS102 2023-04-01 2024-03-31 03174539 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03174539 c:FullAccounts 2023-04-01 2024-03-31 03174539 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03174539 d:WithinOneYear 2024-03-31 03174539 d:WithinOneYear 2023-03-31 03174539 d:BetweenOneFiveYears 2024-03-31 03174539 d:BetweenOneFiveYears 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 03174539







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


THE UPHOLSTERERS STUDIO LIMITED






































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THE UPHOLSTERERS STUDIO LIMITED
 


 
COMPANY INFORMATION


Directors
S C Bunyan 
P J Stemp 




Registered number
03174539



Registered office
29 Hill View

Berkhampsted

Hertfordshire

HP4 1SA




Trading Address
29 Hill View
126a Tibbs Hill Road

Berkhampsted

Hertfordshire

HP4 1SA






Accountants
Menzies LLP
Chartered Accountants

95 Gresham Street

London

EC2V 7AB





 


THE UPHOLSTERERS STUDIO LIMITED
REGISTERED NUMBER:03174539



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
380
507

  
380
507

Current assets
  

Stocks
  
12,360
9,631

Debtors: amounts falling due within one year
 5 
40,051
57,844

Cash at bank and in hand
  
9,770
6,696

  
62,181
74,171

Creditors: amounts falling due within one year
 6 
(67,087)
(70,283)

Net current (liabilities)/assets
  
 
 
(4,906)
 
 
3,888

Total assets less current liabilities
  
(4,526)
4,395

  

Net (liabilities)/assets
  
(4,526)
4,395


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
(4,826)
4,095

  
(4,526)
4,395


Page 1

 


THE UPHOLSTERERS STUDIO LIMITED
REGISTERED NUMBER:03174539


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 by: 




P J Stemp
Director

Date: 28 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


THE UPHOLSTERERS STUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Upholsterers Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 03174539. The registered office and principal place of business are stated on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at the year end the company has net liabilities of £4,526 (2023: net assets of £4,395). The directors have confirmed that they will continue to provide financial support so that the company will be able to meet the creditors as they fall due.

 
2.3

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 generated through the sale and repair of upholstered furniture and measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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 reporting date in the countries where the company operates and generates income.

Page 3

 


THE UPHOLSTERERS STUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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, as shown below.

Depreciation is provided on the following basis:

Leasehold property
-
33%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
20%
straight line
Fixtures and fittings
-
25%
reducing balance
Equipment
-
25%
straight line

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.

  
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 


THE UPHOLSTERERS STUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery  etc
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
972
8,801
8,106
3,134
21,013



At 31 March 2024

972
8,801
8,106
3,134
21,013



Depreciation


At 1 April 2023
972
8,663
8,106
2,765
20,506


Charge for the year on owned assets
-
35
-
92
127



At 31 March 2024

972
8,698
8,106
2,857
20,633



Net book value



At 31 March 2024
-
103
-
277
380



At 31 March 2023
-
138
-
369
507


5.


Debtors

2024
2023
£
£


Trade debtors
34,489
43,623

Other debtors
-
7,902

Prepayments and accrued income
5,562
6,319

40,051
57,844


Page 5

 


THE UPHOLSTERERS STUDIO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
6,201
-

Trade creditors
10,231
8,989

Corporation tax
15,810
9,631

Other taxation and social security
3,603
8,106

Other creditors
26,342
40,057

Accruals and deferred income
4,900
3,500

67,087
70,283



7.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments under non-cancellable operating leases as follows:

2024
2023
£
£


Not later than 1 year
14,122
15,500

Later than 1 year and not later than 5 years
-
14,122

14,122
29,622


8.


Related party transactions

At balance sheet date, included within other creditors, an amount of £26,212 (2023: £39,712) was due to the directors. This loan has been provided free from interest, and is repayable on demand.

 
Page 6