REGISTERED NUMBER: SC610286 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

High Tide Studio Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A E Porter-Currie

E J Currie

REGISTERED OFFICE:

3 Hill Street

Edinburgh

EH2 3JP

REGISTERED NUMBER:

SC610286 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

21,901

26,042

CURRENT ASSETS

Debtors

5

10,137

37,423

Cash at bank

2,219

3,215

12,356

40,638

CREDITORS

Amounts falling due within one year

6

19,536

47,265

NET CURRENT LIABILITIES

(7,180

)

(6,627

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,721

19,415

CREDITORS

Amounts falling due after more than one year

7

(10,557

)

(13,545

)

PROVISIONS FOR LIABILITIES

8

(4,162

)

(6,125

)

NET ASSETS/(LIABILITIES)

2

(255

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

-

(257

)

SHAREHOLDERS' FUNDS

2

(255

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

A E Porter-Currie - Director

1.	STATUTORY INFORMATION

High Tide Studio Ltd is a private company, limited by shares , registered in Scotland. 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Plant and machinery - 10% per annum

Fixtures and fittings - 14% per annum

Computer equipment - 25% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Exemption from preparing cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

28,685

2,861

7,590

39,136

Additions

-

-

92

92

Disposals

-

-

(2,215

)

(2,215

)

At 31 December 2024

28,685

2,861

5,467

37,013

DEPRECIATION

At 1 January 2024

7,709

1,137

4,248

13,094

Charge for year

2,062

131

1,482

3,675

Eliminated on disposal

-

-

(1,657

)

(1,657

)

At 31 December 2024

9,771

1,268

4,073

15,112

NET BOOK VALUE

At 31 December 2024

18,914

1,593

1,394

21,901

At 31 December 2023

20,976

1,724

3,342

26,042

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,824

4,669

Other debtors

5,313

32,754

10,137

37,423

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

3,392

15,346

Trade creditors

791

2,301

Taxation and social security

10,409

7,409

Other creditors

4,944

22,209

19,536

47,265

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

3,995

5,857

Other creditors

6,562

7,688

10,557

13,545

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

4,162

6,125

Deferred

tax

£

Balance at 1 January 2024

6,125

Provided during year

(1,963

)

Balance at 31 December 2024

4,162

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2024

(257

)

Profit for the year

25,400

Dividends

(25,143

)

At 31 December 2024

-

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

A E Porter-Currie

Balance outstanding at start of year

10,584

(2,090

)

Amounts advanced

16,631

26,916

Amounts repaid

(25,247

)

(14,242

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,968

10,584

E J Currie

Balance outstanding at start of year

11,087

(1,656

)

Amounts advanced

4,950

12,886

Amounts repaid

(13,447

)

(143

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,590

11,087

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £25,143 were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling interest.