| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| FOR |
| Stephen Charles Studio Ltd. |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| FOR |
| Stephen Charles Studio Ltd. |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| Stephen Charles Studio Ltd. |
| COMPANY INFORMATION |
| for the year ended 28 February 2025 |
| Director: |
| Secretary: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| BALANCE SHEET |
| 28 February 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| BALANCE SHEET - continued |
| 28 February 2025 |
| The director acknowledges his 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 were approved by the director and authorised for issue on |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Stephen Charles Studio Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the director, who believes that the going concern basis of preparation remains appropriate in the company's circumstances. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life of 5 years. |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
| Fixtures and fittings - 25% reducing balance |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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. |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 and subsequently measured at amortised cost determined using the effective interest method. |
| Provisions |
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| Cost |
| At 1 March 2024 |
| and 28 February 2025 |
| Amortisation |
| At 1 March 2024 |
| and 28 February 2025 |
| Net book value |
| At 28 February 2025 |
| At 29 February 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| Cost |
| At 1 March 2024 |
| Disposals | ( |
) |
| At 28 February 2025 |
| Depreciation |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 28 February 2025 |
| Net book value |
| At 28 February 2025 |
| At 29 February 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| Stephen Charles Studio Ltd. (Registered number: 04604854) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed £28,501 to the director S C Hirons. |
| No interest has been charged and there is no fixed term for repayment. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is ultimately controlled by the director, S C Hirons and A Hirons (shareholder). |