Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31false2023-09-01falseArchitectural Services11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05523513 2023-09-01 2024-08-31 05523513 2022-09-01 2023-08-31 05523513 2024-08-31 05523513 2023-08-31 05523513 c:Director1 2023-09-01 2024-08-31 05523513 d:OfficeEquipment 2023-09-01 2024-08-31 05523513 d:OfficeEquipment 2024-08-31 05523513 d:OfficeEquipment 2023-08-31 05523513 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05523513 d:ComputerEquipment 2023-09-01 2024-08-31 05523513 d:ComputerEquipment 2024-08-31 05523513 d:ComputerEquipment 2023-08-31 05523513 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05523513 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05523513 d:CurrentFinancialInstruments 2024-08-31 05523513 d:CurrentFinancialInstruments 2023-08-31 05523513 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 05523513 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05523513 d:ShareCapital 2024-08-31 05523513 d:ShareCapital 2023-08-31 05523513 d:RetainedEarningsAccumulatedLosses 2024-08-31 05523513 d:RetainedEarningsAccumulatedLosses 2023-08-31 05523513 c:FRS102 2023-09-01 2024-08-31 05523513 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05523513 c:FullAccounts 2023-09-01 2024-08-31 05523513 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05523513 2 2023-09-01 2024-08-31 05523513 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 05523513










SPACE STUDIO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
SPACE STUDIO LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFSPACE STUDIO LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Space Studio Limited for the year ended 31 August 2024 which comprise the balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Space Studio Limited in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Space Studio Limited and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Space Studio Limited and its  director for our work or for this report.
 
 
It is your duty to ensure that Space Studio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Space Studio Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Space Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







Shipleys Tax Planning

26 August 2025
Page 1

 
SPACE STUDIO LIMITED
REGISTERED NUMBER: 05523513

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
706
1,588

  
706
1,588

Current assets
  

Debtors: amounts falling due within one year
 6 
1,161
5,871

Cash at bank and in hand
 7 
38,471
34,568

  
39,632
40,439

Creditors: amounts falling due within one year
 8 
(19,139)
(22,573)

Net current assets
  
 
 
20,493
 
 
17,866

Total assets less current liabilities
  
21,199
19,454

  

Net assets
  
21,199
19,454


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
21,099
19,354

  
21,199
19,454


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2025.






Page 2

 
SPACE STUDIO LIMITED
REGISTERED NUMBER: 05523513

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

A Ahmed
Director

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 
SPACE STUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Space Studio Ltd is a company domiciled in England & Wales, registration number 05523513. The registered office is 18 Mylor Road, Sheffield, S11 7PF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
SPACE STUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, 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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Page 5

 
SPACE STUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
SPACE STUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Dividends

2024
2023
£
£


Dividends paid on equity capital
15,000
-

15,000
-


5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
1,620
11,972
13,592


Additions
-
415
415



At 31 August 2024

1,620
12,387
14,007



Depreciation


At 1 September 2023
1,523
10,481
12,004


Charge for the year on owned assets
97
1,200
1,297



At 31 August 2024

1,620
11,681
13,301



Net book value



At 31 August 2024
-
706
706



At 31 August 2023
97
1,491
1,588


6.


Debtors

2024
2023
£
£


Trade debtors
1,161
5,871

1,161
5,871


Page 7

 
SPACE STUDIO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
38,471
34,568

38,471
34,568



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
8,029
7,096

Other taxation and social security
2,652
4,197

Other creditors
4,138
7,200

Accruals and deferred income
4,320
4,080

19,139
22,573



9.


Related party transactions

There were no related party transactions during the year.


10.


Controlling party

The company is controlled by the director Mr A Ahmed.


Page 8