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Registration number: 08221781

Grey Wolf Studios Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

Grey Wolf Studios Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Grey Wolf Studios Limited

Company Information

Director

M Laing

Company secretary

L Sargeant

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Grey Wolf Studios Limited

(Registration number: 08221781)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

78,168

109,806

Current assets

 

Debtors

5,049

9,760

Cash at bank and in hand

 

7,653

1,842

 

12,702

11,602

Creditors: Amounts falling due within one year

(352,220)

(362,940)

Net current liabilities

 

(339,518)

(351,338)

Net liabilities

 

(261,350)

(241,532)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(261,351)

(241,533)

Shareholders' deficit

 

(261,350)

(241,532)

For the financial year 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 9 April 2025
 

 

Grey Wolf Studios Limited

(Registration number: 08221781)
Abridged Balance Sheet as at 31 August 2024

.........................................
M Laing
Director

   
     
 

Grey Wolf Studios Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Photographic equipment

33% straight line

Vehicles

25% reducing balance

Office equipment

25% straight line

Improvements to Property

25% straight line

 

Grey Wolf Studios Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over five years

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

115,000

At 31 August 2024

115,000

Amortisation

At 1 September 2023

115,000

At 31 August 2024

115,000

Carrying amount

At 31 August 2024

-

 

Grey Wolf Studios Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

70,282

27,133

65,746

56,045

219,206

Additions

-

583

1,182

-

1,765

At 31 August 2024

70,282

27,716

66,928

56,045

220,971

Depreciation

At 1 September 2023

15,763

16,787

62,261

14,589

109,400

Charge for the year

17,570

3,519

1,949

10,365

33,403

At 31 August 2024

33,333

20,306

64,210

24,954

142,803

Carrying amount

At 31 August 2024

36,949

7,410

2,718

31,091

78,168

At 31 August 2023

54,519

10,346

3,485

41,456

109,806

Included within the net book value of land and buildings above is £36,949 (2023 - £54,519) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1