THE BILL SKINNER STUDIO LIMITED


Directors	SKINNER, Gillian Joy
	SKINNER, Toby William Ronald
	SKINNER, William Francis


Company Secretary	SKINNER, Gillian Joy


Registered Address	14 High Street
	Otford
	Kent
	TN14 5PQ


Registered Number	03101806 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	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.

	Revenue from sale of goods
	Revenue 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 company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.Revenue

Revenue from sale of goods

Revenue 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 company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.Revenue

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	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.

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.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Amortisation 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: Website computer costs - 10-20% on cost.

Intangible assets

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation 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: 
Website computer costs  - 10-20% on cost.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	4.5
Plant and machinery	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. 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.

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for 
obsolete and slow moving items.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and 
replacement cost, adjusted where applicable for any loss of service potential. 

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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less

	Related parties
	The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	12		15

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 25	174,183
	At 31 December 25	174,183
	Amortisation and impairment
	At 01 January 25	142,527
	Charge for year	9,244
	At 31 December 25	151,771
	Net book value
	At 31 December 25	22,412
	At 31 December 24	31,656

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 25	164,147
	At 31 December 25	164,147
	Depreciation and impairment
	At 01 January 25	156,713
	Charge for year	2,122
	At 31 December 25	158,835
	Net book value
	At 31 December 25	5,312
	At 31 December 24	7,434

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	83,318	64,305
Amounts owed by group undertakings	2,081	813
Other debtors	-	7,777
Total	85,399	72,895

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	110,167	82,666
Bank borrowings and overdrafts	25,750	26,126
Taxation and social security	99,891	89,330
Other creditors	106,707	52,861
Accrued liabilities and deferred income	7,320	3,660
Total	349,835	254,643

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	33,023	52,771
Total	33,023	52,771

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	7,066	7,066
Total	7,066	7,066

9.	Share capital
	Allotted, issued and fully paid: Number Class Nominal Value 2025 2024 4,000 A Ordinary 25p 1,000 1,000 100 B Ordinary 25p 100 101 1 C Ordinary 25p 0.25 0.25 1 D Ordinary 25p 0.25 0.25 1 E Ordinary 25p 0.25 0.25 1 F Ordinary 25p 0.25 0.25

10.	Controlling party
	The company is controlled by the director Mr W F Skinner.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		22,412		31,656
Tangible assets	4		5,312		7,434
			27,724		39,090
Current assets
Stocks		197,003		155,076
Debtors	5	85,399		72,895
Cash at bank and on hand		109,403		77,507
		391,805		305,478
Creditors amounts falling due within one year	6	(349,835)		(254,643)
Net current assets (liabilities)			41,970		50,835
Total assets less current liabilities			69,694		89,925
Creditors amounts falling due after one year	7		(33,023)		(52,771)
Provisions for liabilities	8		(7,066)		(7,066)
Net assets			29,605		30,088
Capital and reserves
Called up share capital			1,026		1,026
Profit and loss account			28,579		29,062
Shareholders' funds			29,605		30,088