Company Registration No. 12812010 (England and Wales)
A New Design Studio Limited
Unaudited accounts
for the year ended 31 August 2024
A New Design Studio Limited
Statement of financial position
as at 31 August 2024
Tangible assets
9,845
13,575
Cash at bank and in hand
347,165
129,774
Creditors: amounts falling due within one year
(134,604)
(144,959)
Net current assets
277,083
185,505
Net assets
286,928
199,080
Called up share capital
100
100
Profit and loss account
286,828
198,980
Shareholders' funds
286,928
199,080
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by
S N J Jackson
Director
Company Registration No. 12812010
A New Design Studio Limited
Notes to the Accounts
for the year ended 31 August 2024
A New Design Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 12812010. The registered office is 2nd Floor, The Back Building, 148-150 Curtain Road, London, EC2A 3AT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The presentational and functional currency of the company is Sterling pounds (£) and amounts in the accounts rounded to the nearest £.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
Taxation for the year comprises current taxation and 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 taxation 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.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
A New Design Studio Limited
Notes to the Accounts
for the year ended 31 August 2024
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line over 5 years
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Tangible fixed assets
Plant & machinery
At 1 September 2023
23,517
Amounts falling due within one year
Trade debtors
63,572
199,140
A New Design Studio Limited
Notes to the Accounts
for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
36,042
39,054
Loans from directors
89,159
56,880
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
In the year, directors received interest free loans of £nil (2023: £300).
At the year end, £950 (2023: £1,550) was outstanding which was repaid after the year end.
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Average number of employees
During the year the average number of employees was 4 (2023: 3).