Company registration number 11163927 (England and Wales)
MCWILLIAM STUDIO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
MCWILLIAM STUDIO LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MCWILLIAM STUDIO LTD
COMPANY INFORMATION
Director
Mr G J McWilliam
Secretary
Mrs G C Lister
Company number
11163927
Registered office
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
Accountants
Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
MCWILLIAM STUDIO LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,910
5,415
Current assets
Stocks
4,544
-
Debtors
4
13,441
12,463
Cash at bank and in hand
40,835
28,878
58,820
41,341
Creditors: amounts falling due within one year
5
(30,686)
(25,713)
Net current assets
28,134
15,628
Net assets
33,044
21,043
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
32,944
20,943
Total equity
33,044
21,043

The notes on pages 2 to 4 form part of these financial statements.

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 15 October 2025
Mr G J McWilliam
Director
Company registration number 11163927 (England and Wales)
MCWILLIAM STUDIO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

McWilliam Studio Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, England, B75 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on cost.
Computers
33% on cost.
1.4
Work in progress

Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MCWILLIAM STUDIO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases
As lessee

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
MCWILLIAM STUDIO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
11,859
Additions
2,329
At 31 January 2025
14,188
Depreciation and impairment
At 1 February 2024
6,443
Depreciation charged in the year
2,835
At 31 January 2025
9,278
Carrying amount
At 31 January 2025
4,910
At 31 January 2024
5,415
Last year c/fwd cost
11,858
Differs from this year b/fwd by
1
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,902
3,191
Other debtors
7,539
9,272
13,441
12,463
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
28,478
15,559
Other creditors
2,208
10,154
30,686
25,713
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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