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REGISTERED NUMBER: 08332356 (England and Wales)








Unaudited Financial Statements for the Year Ended 30 November 2024

for

Inside Studio Limited

Inside Studio Limited (Registered number: 08332356)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Inside Studio Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mrs A Bowen
J L Bowen





REGISTERED OFFICE: 17-19 Park Street
Lytham
Lancashire
FY8 5LU





REGISTERED NUMBER: 08332356 (England and Wales)





ACCOUNTANTS: Ashworth Treasure (BOC) Limited
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Inside Studio Limited (Registered number: 08332356)

Abridged Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,324 9,510

CURRENT ASSETS
Debtors 19,098 27,049
Prepayments and accrued income 2,368 -
Cash at bank 30,305 25,448
51,771 52,497
CREDITORS
Amounts falling due within one year 45,394 45,094
NET CURRENT ASSETS 6,377 7,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,701

16,913

PROVISIONS FOR LIABILITIES 1,360 1,660
NET ASSETS 12,341 15,253

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 12,321 15,233
SHAREHOLDERS' FUNDS 12,341 15,253

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

Inside Studio Limited (Registered number: 08332356)

Abridged Balance Sheet - continued
30 November 2024



The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





J L Bowen - Director


Inside Studio Limited (Registered number: 08332356)

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

1. STATUTORY INFORMATION

Inside 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.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on cost

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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.

Inside Studio Limited (Registered number: 08332356)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 24,467
DEPRECIATION
At 1 December 2023 14,957
Charge for year 2,186
At 30 November 2024 17,143
NET BOOK VALUE
At 30 November 2024 7,324
At 30 November 2023 9,510

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mrs A Bowen and J L Bowen
Balance outstanding at start of year 10,725 10,518
Amounts advanced 31,205 12,207
Amounts repaid (24,000 ) (12,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,930 10,725

Interest at the official rate of £319 was charged on the average outstanding balance in the year

The loan was repaid within 9 months of the balance sheet date.