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Company No: 04822312 (England and Wales)

GRAHAM TOOBY STUDIO LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

GRAHAM TOOBY STUDIO LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

GRAHAM TOOBY STUDIO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
GRAHAM TOOBY STUDIO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,327 7,909
6,327 7,909
Current assets
Debtors 64 173
Cash at bank and in hand 27,582 24,925
27,646 25,098
Creditors: amounts falling due within one year ( 91,026) ( 88,558)
Net current liabilities (63,380) (63,460)
Total assets less current liabilities (57,053) (55,551)
Net liabilities ( 57,053) ( 55,551)
Capital and reserves
Called-up share capital 4 2 2
Profit and loss account ( 57,055 ) ( 55,553 )
Total shareholder's deficit ( 57,053) ( 55,551)

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 financial statements of Graham Tooby Studio Limited (registered number: 04822312) were approved and authorised for issue by the Director. They were signed on its behalf by:

Graham Michael Tooby
Director

14 May 2025

GRAHAM TOOBY STUDIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
GRAHAM TOOBY STUDIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Graham Tooby Studio Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 69,131 69,131
At 31 August 2024 69,131 69,131
Accumulated depreciation
At 01 September 2023 61,222 61,222
Charge for the financial year 1,582 1,582
At 31 August 2024 62,804 62,804
Net book value
At 31 August 2024 6,327 6,327
At 31 August 2023 7,909 7,909

4. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

5. Related party transactions

Transactions with the entity's director

2024 2023
£ £
93,426 87,809

This balance is included within other creditors and is owed to the director. This balance is unsecured with no fixed repayment terms and interest free.