Our Studio Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06763143 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

OUR STUDIO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Crothers

Mr N A Harrison

SECRETARY:

Mrs S Crothers

REGISTERED OFFICE:

Century Buildings

14 St. Mary's Parsonage

Manchester

M3 2DF

REGISTERED NUMBER:

06763143 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

National Westminster Bank Plc

Direct Business Banking

PO Box 4115

Hornchurch

Essex

RM12 4DF

FIXED ASSETS

Tangible assets

4

16,720

12,629

CURRENT ASSETS

Debtors

5

172,203

139,420

Cash at bank

291,983

212,705

464,186

352,125

CREDITORS

Amounts falling due within one year

6

240,250

169,005

NET CURRENT ASSETS

223,936

183,120

TOTAL ASSETS LESS CURRENT LIABILITIES

240,656

195,749

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

240,654

195,747

SHAREHOLDERS' FUNDS

240,656

195,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2021 and were signed on its behalf by:

Mrs S Crothers - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are initially recorded at cost.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2020

3,040

129,020

132,060

Additions

2,388

11,660

14,048

At 31 December 2020

5,428

140,680

146,108

DEPRECIATION

At 1 January 2020

1,041

118,390

119,431

Charge for year

658

9,299

9,957

At 31 December 2020

1,699

127,689

129,388

NET BOOK VALUE

At 31 December 2020

3,729

12,991

16,720

At 31 December 2019

1,999

10,630

12,629

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

154,513

131,025

Other debtors

17,690

8,395

172,203

139,420

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

34,004

5,312

Taxation and social security

111,254

108,798

Other creditors

94,992

54,895

240,250

169,005

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

29,343

6,757

Between one and five years

67,722

-

97,065

6,757

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.