Company Registration No. 09552994 (England and Wales)
THE PATTERN STUDIO LTD
Unaudited accounts
for the year ended 30 April 2020
THE PATTERN STUDIO LTD
Unaudited accounts
Contents
THE PATTERN STUDIO LTD
Company Information
for the year ended 30 April 2020
Company Number
09552994 (England and Wales)
Registered Office
29 NORTHVIEW ROAD
NORTHVIEW ROAD
LUTON
LU2 7LF
ENGLAND
Accountants
RPJ Accountancy Limited
Rivers Lodge
West Common
Harpenden
Hertfordshire
AL5 2JD
THE PATTERN STUDIO LTD
Statement of financial position
as at 30 April 2020
Tangible assets
29,612
15,489
Cash at bank and in hand
1,656
15,350
Creditors: amounts falling due within one year
(28,900)
(31,560)
Net current liabilities
(20,465)
(1,348)
Called up share capital
10
10
Profit and loss account
9,137
14,131
Shareholders' funds
9,147
14,141
For the year ending 30 April 2020 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 24 June 2020 and were signed on its behalf by
C Grant
Director
Company Registration No. 09552994
THE PATTERN STUDIO LTD
Notes to the Accounts
for the year ended 30 April 2020
THE PATTERN STUDIO LTD is a private company, limited by shares, registered in England and Wales, registration number 09552994. The registered office is 29 NORTHVIEW ROAD, NORTHVIEW ROAD, LUTON, LU2 7LF, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
THE PATTERN STUDIO LTD
Notes to the Accounts
for the year ended 30 April 2020
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2019
2,203
5,708
18,413
26,324
Additions
-
4,531
18,781
23,312
At 30 April 2020
2,203
10,239
37,194
49,636
At 1 May 2019
875
2,766
7,194
10,835
Charge for the year
220
2,260
6,709
9,189
At 30 April 2020
1,095
5,026
13,903
20,024
At 30 April 2020
1,108
5,213
23,291
29,612
At 30 April 2019
1,328
2,942
11,219
15,489
Work in progress
554
7,306
Accrued income and prepayments
354
-
7
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
463
8,897
Loans from directors
24,799
21,713
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).
