REGISTERED NUMBER: 11690134 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2024

for

Nick Munro Studio Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

N S Munro

Registered office:

1 Kilmorey Park Road

Chester

CH2 3QT

Registered number:

11690134 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Intangible assets

4

2,232

2,604

Tangible assets

5

-

331

2,232

2,935

Current assets

Debtors

6

18,508

15,019

Cash at bank

1,355

1,096

19,863

16,115

Creditors

Amounts falling due within one year

7

14,932

26,143

Net current assets/(liabilities)

4,931

(10,028

)

Total assets less current liabilities

7,163

(7,093

)

Creditors

Amounts falling due after more than one year

8

490

3,519

Net assets/(liabilities)

6,673

(10,612

)

Capital and reserves

Called up share capital

9

100

100

Retained earnings

6,573

(10,712

)

Shareholders' funds

6,673

(10,612

)

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 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 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 9 September 2025 and were signed by:

N S Munro - Director

1.	Statutory information

Nick Munro Studio Ltd 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.	Intangible fixed assets

Patents

and

licences

£

Cost

At 1 December 2023

and 30 November 2024

3,720

Amortisation

At 1 December 2023

1,116

Amortisation for year

372

At 30 November 2024

1,488

Net book value

At 30 November 2024

2,232

At 30 November 2023

2,604

5.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 December 2023

and 30 November 2024

6,885

Depreciation

At 1 December 2023

6,554

Charge for year

331

At 30 November 2024

6,885

Net book value

At 30 November 2024

-

At 30 November 2023

331

6.

Debtors: amounts falling due within one year

30/11/24

30/11/23

£

£

Trade debtors

-

5,000

Other debtors

18,508

10,019

18,508

15,019

7.

Creditors: amounts falling due within one year

30/11/24

30/11/23

£

£

Bank loans and overdrafts

2,564

2,565

Taxation and social security

6,743

2,576

Other creditors

5,625

21,002

14,932

26,143

8.

Creditors: amounts falling due after more than one year

30/11/24

30/11/23

£

£

Bank loans

490

3,519

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/24

30/11/23

value:

£

£

10,000

Ordinary

£0.01

100

100