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Registered number: 15105349
Studio 34 Pilates Limited
Financial Statements
For The Year Ended 31 August 2024
Leathley & Co - Poynton Office
Park Lane Business Centre
78 Park Lane
Poynton
Cheshire
SK12 1RE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15105349
2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 320
Tangible Assets 5 52,255
52,575
CURRENT ASSETS
Cash at bank and in hand 23,127
23,127
Creditors: Amounts Falling Due Within One Year 6 (43,183 )
NET CURRENT ASSETS (LIABILITIES) (20,056 )
TOTAL ASSETS LESS CURRENT LIABILITIES 32,519
NET ASSETS 32,519
CAPITAL AND RESERVES
Called up share capital 7 2
Profit and Loss Account 32,517
SHAREHOLDERS' FUNDS 32,519
For the 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.
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 Profit and Loss Account.
On behalf of the board
Miss Georgia Graveley
Director
31/03/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Studio 34 Pilates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15105349 . The registered office is 32 South Street, Alderley Edge, Cheshire, SK9 7ES.
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.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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:
Leasehold 20
Plant & Machinery 25
Fixtures & Fittings 25
Computer Equipment 15
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2
2
Page 2
Page 3
4. Intangible Assets
Intellectual Property
£
Cost
As at 30 August 2023 32
Additions 320
As at 31 August 2024 352
Amortisation
As at 30 August 2023 -
Provided during the period 32
As at 31 August 2024 32
Net Book Value
As at 31 August 2024 320
As at 30 August 2023 32
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 30 August 2023 - - - - -
Additions 26,980 337 35,810 4,190 67,317
As at 31 August 2024 26,980 337 35,810 4,190 67,317
Depreciation
As at 30 August 2023 - - - - -
Provided during the period 5,396 84 8,953 629 15,062
As at 31 August 2024 5,396 84 8,953 629 15,062
Net Book Value
As at 31 August 2024 21,584 253 26,857 3,561 52,255
As at 30 August 2023 - - - - -
6. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 2,757
Other creditors 30,686
Taxation and social security 9,740
43,183
Page 3
Page 4
7. Share Capital
2024
£
Allotted, Called up and fully paid 2
Page 4