Simon Ashby Studios Limited - Accounts to registrar (filleted) - small 18.2
Simon Ashby Studios Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 |
FOR |
SIMON ASHBY STUDIOS LIMITED |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SIMON ASHBY STUDIOS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
St Pauls House |
23 Park Square |
Leeds |
West Yorkshire |
LS1 2ND |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
BALANCE SHEET |
30 JUNE 2019 |
30.6.19 | 30.6.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
BALANCE SHEET - continued |
30 JUNE 2019 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
1. | STATUTORY INFORMATION |
Simon Ashby Studios Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company in the year under review was that of textile design and consultancy. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Website development | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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. |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2018 |
and 30 June 2019 |
AMORTISATION |
At 1 July 2018 |
Charge for year |
At 30 June 2019 |
NET BOOK VALUE |
At 30 June 2019 |
At 30 June 2018 |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Website | and | Computer |
development | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2018 |
and 30 June 2019 |
DEPRECIATION |
At 1 July 2018 |
Charge for year |
At 30 June 2019 |
NET BOOK VALUE |
At 30 June 2019 |
At 30 June 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Other creditors |
SIMON ASHBY STUDIOS LIMITED (REGISTERED NUMBER: 04461450) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.19 | 30.6.18 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.19 | 30.6.18 |
£ | £ |
Bank overdrafts |
Other creditors | 18,343 | - |
The bank borrowings are secured by a Debenture including Fixed Charges over all present freehold and |
leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both |
present and future; and First Floating Charge over all assets and undertakings both present and future of the |
company. |
The Other creditors are secured by a first charge over the trade debts of the company. |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2019 and |
30 June 2018: |
30.6.19 | 30.6.18 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Advances to the director are interest free with no set terms of repayment and is disclosed within 'Other debtors' at |
note 8 above. Interest is charged at the rate of 2.5% p.a. on net advances by the company to the directors. |
12. | RELATED PARTY DISCLOSURES |
S J Ashby has given a personal guarantee to the company's bankers to a maximum value of £5,000. |