| Registered Number:SC640215 |
For the year ended 31 August 2024
Scotland
Unaudited Financial Statements
For the year ended 31 August 2024
Studio IMA Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Studio IMA Ltd
Statement of Financial Position
2023
2024
| Property, plant and equipment |
5,128
3,471
2
5,128
3,471
| Trade and other receivables |
22,552
27,526
3
64,744
| Cash and cash equivalents |
116,266
143,792
87,296
| Trade and other payables: amounts falling due within one |
| year |
(23,700)
(51,437)
4
63,596
92,355
Net current assets
| Total assets less current liabilities |
97,483
67,067
97,483
Net assets
67,067
100
100
97,383
66,967
97,483
67,067
Shareholders' funds
| For the year ended 31 August 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| 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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| These financial statements were approved and authorised for issue by the Board on 27 May 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 August 2024
Studio IMA Ltd
Notes to the Financial Statements
Statutory Information
| Studio IMA Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC640215. |
21 Morton Street
Joppa
Edinburgh
EH15 2HN
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
| 2. Property, plant and equipment |
7,163
4,062
3,101
3,366
-
3,366
6,467
4,062
10,529
| Provision for depreciation and impairment |
3,692
2,762
930
Charge for year
1,709
325
1,384
5,401
3,087
2,314
4,153
975
5,128
2,171
1,300
3,471
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For the year ended 31 August 2024
Studio IMA Ltd
Notes to the Financial Statements Continued
| 3. Trade and other receivables |
2023
2024
| Amounts owed by group undertakings and participating interests |
27,511
22,552
15
-
22,552
27,526
| Short-term debtors are measured at fair value at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and measured subsequently at amortised cost using the effective interest method, less any impairment. |
| 4. Trade and other payables: amounts falling due within one year |
2023
2024
| Taxation and social security |
37,420
11,266
14,017
12,434
51,437
23,700
| Short-term creditors are measured at the transaction price. Other financial laibilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 5. Average number of persons employed |
During the year the average number of employees was 4 (2023 : 2)
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