REGISTERED NUMBER: SC486556 (Scotland)

Financial Statements for the Year Ended 30 September 2024

for

Studio 42 Design Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms G S Lockyer

REGISTERED OFFICE:

Rennie Smith & Co, C.A

1160 Tollcross Road

Glasgow

G32 8HE

REGISTERED NUMBER:

SC486556 (Scotland)

FIXED ASSETS

Tangible assets

4

1,599

1,614

CURRENT ASSETS

Debtors

5

10,722

-

Cash at bank

11,230

31,645

21,952

31,645

CREDITORS

Amounts falling due within one year

6

10,893

13,658

NET CURRENT ASSETS

11,059

17,987

TOTAL ASSETS LESS CURRENT LIABILITIES

12,658

19,601

PROVISIONS FOR LIABILITIES

7

304

307

NET ASSETS

12,354

19,294

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

12,353

19,293

SHAREHOLDERS' FUNDS

12,354

19,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 20 June 2025 and were signed by:

Ms G S Lockyer - Director

1.	STATUTORY INFORMATION

Studio 42 Design Ltd 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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 October 2023

3,190

4,951

8,141

Additions

129

387

516

At 30 September 2024

3,319

5,338

8,657

DEPRECIATION

At 1 October 2023

2,428

4,099

6,527

Charge for year

222

309

531

At 30 September 2024

2,650

4,408

7,058

NET BOOK VALUE

At 30 September 2024

669

930

1,599

At 30 September 2023

762

852

1,614

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,722

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

171

2,702

Other creditors

10,722

10,956

10,893

13,658

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

304

307

Deferred

tax

£

Balance at 1 October 2023

307

Provided during year

(3

)

Balance at 30 September 2024

304

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms G S Lockyer.