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Company Registration No. 05266171 (England and Wales)
Toward Studio Limited Unaudited accounts for the year ended 31 March 2025
Toward Studio Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Toward Studio Limited Company Information for the year ended 31 March 2025
Directors
Michael Francis Jordan Tomos Alan Lloyd
Company Number
05266171 (England and Wales)
Registered Office
Floor 3 Cambrian Buildings Mount Stuart Square Cardiff CF10 5FL United Kingdom
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Toward Studio Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
5
17,850
19,033
Current assets
Inventories
136
12,078
Debtors
6
160,807
152,240
Cash at bank and in hand
90,333
33,495
251,276
197,813
Creditors: amounts falling due within one year
7
(145,919)
(129,048)
Net current assets
105,357
68,765
Total assets less current liabilities
123,207
87,798
Creditors: amounts falling due after more than one year
8
(116,901)
(29,747)
Net assets
6,306
58,051
Capital and reserves
Called up share capital
9
100
100
Capital redemption reserve
48
48
Capital contribution reserve
5,239
-
Profit and loss account
919
57,903
Shareholders' funds
6,306
58,051
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2026 and were signed on its behalf by
Michael Francis Jordan Director Company Registration No. 05266171
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Toward Studio Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Toward Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 05266171. The registered office is Floor 3 Cambrian Buildings, Mount Stuart Square, Cardiff, CF10 5FL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared in accordance with Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Section 1A, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover represents the value of services provided during the year, stated net of value added tax. Revenue from services is recognised when the service is performed or, where services are provided over a period of time, in accordance with the stage of completion of the contract at the reporting date.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
- 20% on reducing balance
Computer equipment
- 20% on reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and are initially measured at cost. The company only holds basic financial instruments, which are subsequently measured at amortised cost.
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Toward Studio Limited Notes to the Accounts for the year ended 31 March 2025
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
35,000
At 31 March 2025
35,000
Amortisation
At 1 April 2024
35,000
At 31 March 2025
35,000
Net book value
At 31 March 2025
-
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
13,469
54,659
68,128
Additions
2,960
126
3,086
At 31 March 2025
16,429
54,785
71,214
Depreciation
At 1 April 2024
12,061
37,034
49,095
Charge for the year
325
3,944
4,269
At 31 March 2025
12,386
40,978
53,364
Net book value
At 31 March 2025
4,043
13,807
17,850
At 31 March 2024
1,408
17,625
19,033
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Toward Studio Limited Notes to the Accounts for the year ended 31 March 2025
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
49,368
79,131
Accrued income and prepayments
9,792
2,742
Other debtors
101,647
70,367
160,807
152,240
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
19,642
15,777
VAT
35,434
15,770
Trade creditors
35,317
15,792
Taxes and social security
38,865
43,846
Other creditors
10,106
13,677
Accruals
5,722
19,325
Deferred income
833
4,861
145,919
129,048
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
116,901
29,747
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Loans to directors
The following amounts were due from directors during the year. The loans are unsecured, bear interest at the HMRC official rate (2.25%) and are repayable on demand. Dividends totalling £61,901 (2024: £75,400) were paid in the year in respect of shares held by the company’s directors.
11
Average number of employees
During the year the average number of employees was 10 (2024: 9).
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