Ochre Print Studio Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08340402 (England and Wales)

Unaudited Financial Statements For The Year Ended 31 December 2021

for

Ochre Print Studio Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A E Robson

D J Sanders

SECRETARY:

A E Robson

REGISTERED OFFICE:

8 Harts Yard

Godalming

Surrey

GU7 1AS

REGISTERED NUMBER:

08340402 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

FIXED ASSETS

Tangible assets

4

215

3,932

CURRENT ASSETS

Stocks

7,769

7,988

Cash at bank and in hand

47,716

43,769

55,485

51,757

CREDITORS

Amounts falling due within one year

5

16,076

23,074

NET CURRENT ASSETS

39,409

28,683

TOTAL ASSETS LESS CURRENT LIABILITIES

39,624

32,615

PROVISIONS FOR LIABILITIES

-

747

NET ASSETS

39,624

31,868

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

39,524

31,768

SHAREHOLDERS' FUNDS

39,624

31,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2022 and were signed on its behalf by:

A E Robson - Director

1.	STATUTORY INFORMATION

Ochre Print Studio Ltd 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 measured at the fair value of the consideration received or receivable and is recognised as services are provided.

Tangible fixed assets

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

Equipment

-

20% on cost

Stocks

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

Taxation

Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Government Grants

Grants towards revenue expenditure are compared to the related costs incurred in the year and matched in the income statement; where expenditure has yet to be incurred an element of the grants received is carried forward as deferred income in the Balance Sheet.

Where there are conditions attaching to the grants, the directors keep these under review such that should any of the grant become repayable, this is then transferred back to creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 January 2021

and 31 December 2021

30,247

DEPRECIATION

At 1 January 2021

26,315

Charge for year

3,717

At 31 December 2021

30,032

NET BOOK VALUE

At 31 December 2021

215

At 31 December 2020

3,932

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

1,120

1,890

Corporation tax

2,515

891

Other creditors

1,911

1,903

Income in advance

8,615

16,746

Accrued expenses

1,915

1,644

16,076

23,074

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2021

31,768

Profit for the year

7,756

At 31 December 2021

39,524