Registered number
04372438
Studio 18 Ltd
Filleted Accounts
31 March 2025
Studio 18 Ltd
Registered number: 04372438
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 2,349 1,937
Current assets
Stocks 10,000 10,000
Debtors 4 8,133 10,145
Cash at bank and in hand 58,895 76,851
77,028 96,996
Creditors: amounts falling due within one year 5 (122,997) (130,861)
Net current liabilities (45,969) (33,865)
Net liabilities (43,620) (31,928)
Capital and reserves
Called up share capital 100 100
Profit and loss account (43,720) (32,028)
Shareholders' funds (43,620) (31,928)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D W Pacey
Director
Approved by the board on 28 May 2025
Studio 18 Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 10,453
Additions 1,419
At 31 March 2025 11,872
Depreciation
At 1 April 2024 8,516
Charge for the year 1,007
At 31 March 2025 9,523
Net book value
At 31 March 2025 2,349
At 31 March 2024 1,937
4 Debtors 2025 2024
£ £
Trade debtors 5,050 4,584
Deferred tax asset 3,083 340
Other debtors - 5,221
8,133 10,145
5 Creditors: amounts falling due within one year 2025 2024
£ £
Directors current account 4,512 6,758
Trade creditors 6,436 9,317
Taxation and social security costs 6,581 6,907
Other creditors 105,468 107,879
122,997 130,861
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