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REGISTERED NUMBER: 11605777 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Samuel Chisholm Studio Ltd

Samuel Chisholm Studio Ltd (Registered number: 11605777)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Samuel Chisholm Studio Ltd (Registered number: 11605777)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 5,541 13,534

Current assets
Stocks 7,177 3,664
Debtors 5 5,373 4,319
Cash at bank 9,256 29,062
21,806 37,045
Creditors
Amounts falling due within one year 6 20,470 31,970
Net current assets 1,336 5,075
Total assets less current liabilities 6,877 18,609

Creditors
Amounts falling due after more than
one year

7

3,000

7,000
Net assets 3,877 11,609

Capital and reserves
Called up share capital 1 1
Retained earnings 3,876 11,608
Shareholders' funds 3,877 11,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Samuel Chisholm Studio Ltd (Registered number: 11605777)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 February 2025 and were signed by:





S Chisholm - Director


Samuel Chisholm Studio Ltd (Registered number: 11605777)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. Statutory information

Samuel Chisholm Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11605777

Registered office: Pound House
62a Highgate High Street
London
N6 5HX

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Samuel Chisholm Studio Ltd (Registered number: 11605777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 October 2023 32,611 8,565 41,176
Additions - 298 298
At 30 September 2024 32,611 8,863 41,474
Depreciation
At 1 October 2023 23,135 4,507 27,642
Charge for year 6,523 1,768 8,291
At 30 September 2024 29,658 6,275 35,933
Net book value
At 30 September 2024 2,953 2,588 5,541
At 30 September 2023 9,476 4,058 13,534

Samuel Chisholm Studio Ltd (Registered number: 11605777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,599 -
Other debtors 669 669
Prepayments 2,105 3,650
5,373 4,319

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 406 2,206
Corporation tax 1,361 2,789
VAT 1,650 8,307
Other creditors 162 162
Directors' current accounts 900 900
Accrued expenses 11,991 13,606
20,470 31,970

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 3,000 4,000
Bank loans - 3,000
3,000 7,000

8. Ultimate controlling party

The ultimate controlling party is S Chisholm.