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REGISTERED NUMBER: SC271269 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

STUDIO LR LIMITED

STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STUDIO LR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs L Gray
A Gray





REGISTERED OFFICE: 25 The Bond Building
Breadalbane Street
Edinburgh
EH6 5JW





REGISTERED NUMBER: SC271269 (Scotland)






STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,407 49,793

CURRENT ASSETS
Stocks 492 25,031
Debtors 5 171,451 178,964
Cash at bank 177,460 288,045
349,403 492,040
CREDITORS
Amounts falling due within one year 6 127,464 238,104
NET CURRENT ASSETS 221,939 253,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,346

303,729

CREDITORS
Amounts falling due after more than one
year

7

(4,381

)

(8,425

)

PROVISIONS FOR LIABILITIES (3,483 ) (5,990 )
NET ASSETS 249,482 289,314

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 249,382 289,214
SHAREHOLDERS' FUNDS 249,482 289,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by:




Mrs L Gray - Director



A Gray - Director


STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Studio LR Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.
Land and buildings - 20% on cost
Plant and machinery etc - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 46,465 79,129 125,594
Additions 1,930 6,175 8,105
At 31 August 2024 48,395 85,304 133,699
DEPRECIATION
At 1 September 2023 18,586 57,215 75,801
Charge for year 9,679 12,812 22,491
At 31 August 2024 28,265 70,027 98,292
NET BOOK VALUE
At 31 August 2024 20,130 15,277 35,407
At 31 August 2023 27,879 21,914 49,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 159,749 165,066
Other debtors 11,702 13,898
171,451 178,964

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Payments on account 12,516 55,232
Trade creditors 25,656 42,198
Taxation and social security 64,925 113,540
Other creditors 24,367 27,134
127,464 238,104

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Other creditors 4,381 8,425

STUDIO LR LIMITED (REGISTERED NUMBER: SC271269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
A Gray
Balance outstanding at start of year - 1,444
Amounts advanced - 26,090
Amounts repaid - (27,534 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs L Gray
Balance outstanding at start of year - -
Amounts advanced - 10,000
Amounts repaid - (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -