Additional Disclosures
During the year, Flux Laser Studio Ltd provided loans to Burns Street Studio CIC, the balance at the year end was £5,000 (2023: £0). No interest is payable and the loans are repayable on demand. Alice Jacobs, Director and Shareholder, is also a Director and Shareholder of Burns Street Studio CIC.
During the year, Flux Laser Studio Ltd repaid loans to Flux CNC Studio Ltd, the balance at the year end was £0 (2023: £20,000) owed to Flux CNC Studio Ltd. Alice Jacobs, Director and Shareholder, is also a Director and Shareholder of Flux CNC Studio Ltd.
During the year, Burns St Studios CIC paid costs amounting to £4,318 to Flux Laser Studio Ltd. Alice Jacobs, Director and Shareholder is also a Director and Shareholder in Burns St Studio CIC.
During the year, Flux Laser Studio Ltd paid costs amounting to £4,976 to Burns St Studios CIC. Alice Jacobs, Director and Shareholder is also a Director and Shareholder in Flux Laser Studio Ltd.
During the year, Flux Laser Studio Ltd paid rent amounting to £28,800 (2023: £25,000) to Burns St Studios CIC. Alice Jacobs, Director and Shareholder is also a Director and Shareholder in Flux Laser Studio Ltd.
During the preparation of the financial statements for the year ended 31 August 2024, it was identified that the carrying value of share capital had been overstated (£100 versus the actual shareholding value of £50). This was adjusted in the current year and it was determined not to have a material impact on the financial statements or the users of the financial statements.
Included in the current year Corporation Tax is a payment for year ended 31 August 2021 due to historical resubmitted Corporation Tax.