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Registration number: 07967466

Madeleine Adams Studio Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Madeleine Adams Studio Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Madeleine Adams Studio Limited

Company Information

Director

Madeleine Adams Flynn

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Madeleine Adams Studio Limited

(Registration number: 07967466)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

6

1,233

705

Current assets

 

Debtors

7

35,304

20,876

Cash at bank and in hand

 

42,875

50,912

 

78,179

71,788

Creditors: Amounts falling due within one year

8

(45,601)

(42,903)

Net current assets

 

32,578

28,885

Net assets

 

33,811

29,590

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

33,810

29,589

Shareholders' funds

 

33,811

29,590

For the financial year ending 28 February 2025 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Madeleine Adams Studio Limited

(Registration number: 07967466)
Balance Sheet as at 28 February 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 April 2025
 

.........................................
Madeleine Adams Flynn
Director

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

The principal place of business is:
Fernhollow
61 Queen Street
Upper Weedon
Northamptonshire
NN7 4RA

These financial statements were authorised for issue by the director on 23 April 2025.

2

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 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 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.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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 and after eliminating sales within the company.

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 when the service is performed, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

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

Fixtures and fittings

3 year straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

1,322

1,698

5

Taxation

Tax charged/(credited) in the income statement

2025
£

2024
£

Current taxation

UK corporation tax

9,679

10,013

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

24,684

24,684

Additions

1,849

1,849

Disposals

(22,569)

(22,569)

At 28 February 2025

3,964

3,964

Depreciation

At 1 March 2024

23,979

23,979

Charge for the year

1,321

1,321

Eliminated on disposal

(22,569)

(22,569)

At 28 February 2025

2,731

2,731

Carrying amount

At 28 February 2025

1,233

1,233

At 29 February 2024

705

705

7

Debtors

Current

2025
£

2024
£

Trade debtors

33,520

18,977

Prepayments

1,548

1,156

Other debtors

236

743

 

35,304

20,876

 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

26,279

24,074

Taxation and social security

 

17,237

16,824

Accruals and deferred income

 

2,085

2,005

 

45,601

42,903

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

10

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of 37,500.00 per each Ordinary Share

37,500

37,500

 

 
 

Madeleine Adams Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

30,000

20,000

42,570

32,570

Summary of transactions with other related parties

Madeleine Adams Flynn (director and shareholder) During the year Madeleine Adams Flynn received dividends totalling £37,500 (2024: £37,500) and incurred expenditure totalling £5,250 (2024: £4,975) on the company's behalf. At the balance sheet date, the amount due to Madeleine Adams Flynn was £38,778 (2024: £24,074).