IRIS Accounts Production v25.1.4.42 07762493 director 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077624932023-09-30077624932024-09-30077624932023-10-012024-09-30077624932022-09-30077624932022-10-012023-09-30077624932023-09-3007762493ns15:EnglandWales2023-10-012024-09-3007762493ns14:PoundSterling2023-10-012024-09-3007762493ns10:Director12023-10-012024-09-3007762493ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3007762493ns10:SmallEntities2023-10-012024-09-3007762493ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3007762493ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3007762493ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3007762493ns10:FullAccounts2023-10-012024-09-3007762493ns10:RegisteredOffice2023-10-012024-09-3007762493ns5:CurrentFinancialInstruments2024-09-3007762493ns5:CurrentFinancialInstruments2023-09-3007762493ns5:Non-currentFinancialInstruments2024-09-3007762493ns5:Non-currentFinancialInstruments2023-09-3007762493ns5:ShareCapital2024-09-3007762493ns5:ShareCapital2023-09-3007762493ns5:RetainedEarningsAccumulatedLosses2024-09-3007762493ns5:RetainedEarningsAccumulatedLosses2023-09-3007762493ns5:LeaseholdImprovements2023-10-012024-09-3007762493ns5:PlantMachinery2023-10-012024-09-3007762493ns5:FurnitureFittings2023-10-012024-09-3007762493ns5:ComputerEquipment2023-10-012024-09-3007762493ns5:LeaseholdImprovements2023-09-3007762493ns5:PlantMachinery2023-09-3007762493ns5:FurnitureFittings2023-09-3007762493ns5:LeaseholdImprovements2024-09-3007762493ns5:PlantMachinery2024-09-3007762493ns5:FurnitureFittings2024-09-3007762493ns5:LeaseholdImprovements2023-09-3007762493ns5:PlantMachinery2023-09-3007762493ns5:FurnitureFittings2023-09-3007762493ns5:MotorVehicles2023-09-3007762493ns5:ComputerEquipment2023-09-3007762493ns5:MotorVehicles2023-10-012024-09-3007762493ns5:MotorVehicles2024-09-3007762493ns5:ComputerEquipment2024-09-3007762493ns5:MotorVehicles2023-09-3007762493ns5:ComputerEquipment2023-09-3007762493ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-3007762493ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-012024-09-3007762493ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-09-3007762493ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-3007762493ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3007762493ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30077624931ns10:Director12023-09-30077624931ns10:Director12022-09-30077624931ns10:Director12023-10-012024-09-30077624931ns10:Director12022-10-012023-09-30077624931ns10:Director12024-09-30077624931ns10:Director12023-09-30
REGISTERED NUMBER: 07762493 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Giles Miller Studio Limited

Giles Miller Studio Limited (Registered number: 07762493)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Giles Miller Studio Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr G W J Miller





REGISTERED OFFICE: Gables
The Green
Grundisburgh
Suffolk
IP13 6TA





REGISTERED NUMBER: 07762493 (England and Wales)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Giles Miller Studio Limited (Registered number: 07762493)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,317 57,640

CURRENT ASSETS
Stocks 50,000 20,000
Debtors 5 555,348 721,123
Cash at bank and in hand 860 425
606,208 741,548
CREDITORS
Amounts falling due within one year 6 189,016 272,999
NET CURRENT ASSETS 417,192 468,549
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,509

526,189

CREDITORS
Amounts falling due after more than one
year

7

(80,160

)

(102,374

)

PROVISIONS FOR LIABILITIES (6,054 ) (7,913 )
NET ASSETS 377,295 415,902

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 377,095 415,702
377,295 415,902

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 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.

Giles Miller Studio Limited (Registered number: 07762493)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 June 2025 and were signed by:





Mr G W J Miller - Director


Giles Miller Studio Limited (Registered number: 07762493)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Giles Miller Studio Limited is a private company, limited by shares , registered in England and Wales. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Giles Miller Studio Limited (Registered number: 07762493)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 50,236 28,676 10,312
Additions - - 233
At 30 September 2024 50,236 28,676 10,545
DEPRECIATION
At 1 October 2023 29,863 26,756 6,479
Charge for year 5,093 480 610
At 30 September 2024 34,956 27,236 7,089
NET BOOK VALUE
At 30 September 2024 15,280 1,440 3,456
At 30 September 2023 20,373 1,920 3,833

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 32,465 27,102 148,791
Additions - 1,956 2,189
At 30 September 2024 32,465 29,058 150,980
DEPRECIATION
At 1 October 2023 11,687 16,366 91,151
Charge for year 4,156 3,173 13,512
At 30 September 2024 15,843 19,539 104,663
NET BOOK VALUE
At 30 September 2024 16,622 9,519 46,317
At 30 September 2023 20,778 10,736 57,640

Giles Miller Studio Limited (Registered number: 07762493)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 32,465
DEPRECIATION
At 1 October 2023 11,687
Charge for year 4,156
At 30 September 2024 15,843
NET BOOK VALUE
At 30 September 2024 16,622
At 30 September 2023 20,778

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 37,985 215,185
Accrued income 30,082 -
Other debtors 487,281 505,938
555,348 721,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 67,713 60,051
Hire purchase contracts 3,912 3,912
Trade creditors 57,350 64,985
Taxation and social security 2,982 3,486
Other creditors 57,059 140,565
189,016 272,999

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 66,941 85,244
Hire purchase contracts 13,219 17,130
80,160 102,374

Giles Miller Studio Limited (Registered number: 07762493)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr G W J Miller
Balance outstanding at start of year (129,565 ) (133,209 )
Amounts advanced 87,020 36,692
Amounts repaid (3,514 ) (33,048 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (46,059 ) (129,565 )

9. RELATED PARTY DISCLOSURES

Giles Miller is also a director of Woven House Company Ltd, a company registered in England. As at the balance sheet date there is a balance due from Woven House Company Ltd of £457,792 (2023 £488,325). There is no interest charged and there are no fixed terms of repayment.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the director who owns 100% of the share capital.