KOKOMO STUDIO LIMITED - Filleted accounts

Registered number

07100746

KOKOMO STUDIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

PAGES FOR FILING WITH REGISTRAR

KOKOMO STUDIO LIMITED

CONTENTS



Page

Balance sheet	1 - 2

Notes to the financial statements	3 - 8

KOKOMO STUDIO LIMITED

Balance Sheet

as at 31 December 2025
Company Registration No.	07100746


						Restated
Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		291,534			38,832
Tangible assets	4		62,603			65,759
Investments	5		1			1
			354,138			104,592

Current assets
Stocks		634,398			762,379
Debtors	6	506,988			908,545
Cash at bank and in hand		5,453			9,493
		1,146,839			1,680,417

Creditors: amounts falling due within one year	7	(1,289,291)			(1,481,535)

Net current (liabilities)/assets			(142,452)			198,882

Total assets less current liabilities			211,686			303,474

Creditors: amounts falling due after more than one year	8		-			(75,000)



Net assets			211,686			228,474

Capital and reserves
Called up share capital			2			2
Profit and loss account			211,684			228,472

Shareholders' funds			211,686			228,474


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an 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 Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..					…………………………
Laura Jealous					Laura Kristin Jealous
Director					Director

Approved by the board on 9 July 2026

KOKOMO STUDIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025



1	Accounting policies

	Basis of preparation
	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 the small companies regime. The disclosure requirements of section 1A have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. The directors' have assessed the amortisation rate and the fair market value of the intangible assets and concluded that no amortisation is required for the accounting year. The Goodwill and Development costs correctly reflect the economic value of the intangible assets.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			20% and 25% on cost
	Fixtures & fittings			25% on cost
	Computer equipment			33.33% on cost

	Fixed asset Investments
	Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest where the company has significant influence. The company considers that it has significant influence where it has the power to participate the financial and operating decisions of the associate.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost include all costs incurred in bringing the stocks to their present location and condition. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

	Financial instruments
	The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit 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.

	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 profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets 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 relate to taxes levied by the same tax authority.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Retirement benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					14		12


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 January 2025							39,999
	Additions							252,702
	At 31 December 2025							292,701

	Amortisation
	At 1 January 2025							1,167
	At 31 December 2025							1,167

	Net book value
	At 31 December 2025							291,534
	At 31 December 2024							38,832

	During the year, no depreciation has been provided on intangible assets.


4	Tangible fixed assets
		Plant and machinery		Fixtures, fittings and equipment		Computer equipment		Total
£			£		£		£
	Cost
	At 1 January 2025	47,706		4,733		26,150		78,589
	Additions	14,060		-		3,009		17,069
	At 31 December 2025	61,766		4,733		29,159		95,658

	Depreciation
	At 1 January 2025	8,134		464		4,232		12,830
	Charge for the year	10,372		1,086		8,767		20,225
	At 31 December 2025	18,506		1,550		12,999		33,055

	Net book value
	At 31 December 2025	43,260		3,183		16,160		62,603
	At 31 December 2024	39,572		4,269		21,918		65,759




5	Investments

Other
investments
£
	Cost
	At 1 January 2025							1

	At 31 December 2025							1


Restated
6	Debtors					2025		2024
£							£

	Trade debtors					276,482		835,295
	Directors' current account					83,646		45,295
	Other debtors					146,860		27,955
						506,988		908,545

	The directors' current account represents amounts due from the directors of the company. The maximum amount outstanding during the year was £83,646 (2024 - £45,295), and this amount was repaid within nine months after the year end. The loan is unsecured, interest-free, and repayable on demand.

7	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					798,703		1,024,942
	Trade creditors					216,459		192,060
	Corporation tax					1,017		1,018
	Other loans					75,000		-
	Other taxes and social security costs					141,465		42,186
	Other creditors					56,647		221,329
						1,289,291		1,481,535


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Other loans					-		75,000
						-		75,000


9	Prior year's error

	During the year, the directors' of the company identified errors in prior year's accounts. As a result of errors in the prior year's accounts, the comparatives figures have been restated as follows: Profit and loss Account: Purchase increased by £45,031. Closing stock increased by £45,031. Creditors due within one year: Directors' loan balance decreased by £45,031. The directors' of the company believes that the fair presentation of the financial statements will not be compromised due to the restatement of the comparative's figures.


10	Other information

	Kokomo Studio Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: 129 Broadway, Didcot, Oxfordshire, OX11 8XD.