Silverfin false false 31/08/2024 01/09/2023 31/08/2024 F Alcalde 30/08/2021 28 May 2025 no description of principal activity 13592885 2024-08-31 13592885 bus:Director1 2024-08-31 13592885 2023-08-31 13592885 core:CurrentFinancialInstruments 2024-08-31 13592885 core:CurrentFinancialInstruments 2023-08-31 13592885 core:ShareCapital 2024-08-31 13592885 core:ShareCapital 2023-08-31 13592885 core:RevaluationReserve 2024-08-31 13592885 core:RevaluationReserve 2023-08-31 13592885 core:RetainedEarningsAccumulatedLosses 2024-08-31 13592885 core:RetainedEarningsAccumulatedLosses 2023-08-31 13592885 core:OtherResidualIntangibleAssets 2023-08-31 13592885 core:OtherResidualIntangibleAssets 2024-08-31 13592885 core:Vehicles 2023-08-31 13592885 core:ComputerEquipment 2023-08-31 13592885 core:Vehicles 2024-08-31 13592885 core:ComputerEquipment 2024-08-31 13592885 core:CostValuation 2023-08-31 13592885 core:AdditionsToInvestments 2024-08-31 13592885 core:RevaluationsIncreaseDecreaseInInvestments 2024-08-31 13592885 core:CostValuation 2024-08-31 13592885 2022-08-31 13592885 core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 13592885 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 13592885 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2024-08-31 13592885 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2023-08-31 13592885 2023-09-01 2024-08-31 13592885 bus:FilletedAccounts 2023-09-01 2024-08-31 13592885 bus:SmallEntities 2023-09-01 2024-08-31 13592885 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 13592885 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13592885 bus:Director1 2023-09-01 2024-08-31 13592885 core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 13592885 core:Vehicles 2023-09-01 2024-08-31 13592885 core:ComputerEquipment core:TopRangeValue 2023-09-01 2024-08-31 13592885 2022-09-01 2023-08-31 13592885 core:ComputerEquipment 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 13592885 (England and Wales)

ONE MAN STUDIO LIMITED

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

ONE MAN STUDIO LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ONE MAN STUDIO LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
ONE MAN STUDIO LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
Director F Alcalde
Registered office 18 Highwood Crescent
Horsham
England
RH12 1EN
United Kingdom
Company number 13592885 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
ONE MAN STUDIO LIMITED

BALANCE SHEET

As at 31 August 2024
ONE MAN STUDIO LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 610,253 204,106
Tangible assets 4 43,084 57,156
Investments 5 58,362 0
711,699 261,262
Current assets
Debtors 6 140,888 18,183
Cash at bank and in hand 7 122,452 142,437
263,340 160,620
Creditors: amounts falling due within one year 8 ( 137,077) ( 86,865)
Net current assets 126,263 73,755
Total assets less current liabilities 837,962 335,017
Provision for liabilities 9 ( 66,679) ( 14,289)
Net assets 771,283 320,728
Capital and reserves
Called-up share capital 1 1
Revaluation reserve 167,724 0
Profit and loss account 603,558 320,727
Total shareholder's funds 771,283 320,728

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 One Man Studio Limited (registered number: 13592885) were approved and authorised for issue by the Director on 28 May 2025. They were signed on its behalf by:

F Alcalde
Director
ONE MAN STUDIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ONE MAN 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

One Man 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 company's registered number is 13592885. The address of the Company's registered office is 18 Highwood Crescent, Horsham, England, RH12 1EN, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.

Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the balance sheet date. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Cryptocurrencies which are included as other intangible assets are held under a business model with the intention to "hold to collect". The associated cash flows are accounted for as intangible assets with an indefinite life. These assets are initially recognised on the balance sheet at historical cost and then subsequently revalued at fair value. This is due to the Cryptocurrencies can be reliably measured on an active market. At each reporting date, impairment and amortisation is considered too.

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:

Vehicles 25 % reducing balance
Computer equipment 3 years straight line

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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost/Valuation
At 01 September 2023 204,106 204,106
Additions 182,515 182,515
Revaluations 223,632 223,632
At 31 August 2024 610,253 610,253
Accumulated amortisation
At 01 September 2023 0 0
At 31 August 2024 0 0
Net book value
At 31 August 2024 610,253 610,253
At 31 August 2023 204,106 204,106

4. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 September 2023 52,658 15,711 68,369
Additions 0 2,824 2,824
At 31 August 2024 52,658 18,535 71,193
Accumulated depreciation
At 01 September 2023 6,582 4,631 11,213
Charge for the financial year 11,513 5,383 16,896
At 31 August 2024 18,095 10,014 28,109
Net book value
At 31 August 2024 34,563 8,521 43,084
At 31 August 2023 46,076 11,080 57,156

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 September 2023 0 0
Additions 56,000 56,000
Movement in fair value 2,362 2,362
At 31 August 2024 58,362 58,362
Carrying value at 31 August 2024 58,362 58,362
Carrying value at 31 August 2023 0 0

6. Debtors

2024 2023
£ £
Other debtors 140,888 18,183

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 122,452 142,437

8. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 3,000 2,200
Corporation tax 124,012 80,145
Other taxation and social security 9,856 4,520
Other creditors 209 0
137,077 86,865

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 14,289) 0
Credited/(charged) to the Profit and Loss Account 3,518 ( 14,289)
Charged to the Statement of Comprehensive Income ( 55,908) 0
At the end of financial year ( 66,679) ( 14,289)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 10,771) ( 14,289)
Revaluation of intangible assets ( 55,908) 0
( 66,679) ( 14,289)

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Loan to director 130,820 18,183

During the year, the company has provided a loan to the director with interest charged at 2.25%. The loan has been repaid within 9 months from the end of the year.