Studiomodern Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09797782 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

STUDIOMODERN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Williamson

REGISTERED OFFICE:

The Old Workshop

1 Ecclesall Road South

Sheffield

South Yorkshire

S11 9PA

REGISTERED NUMBER:

09797782 (England and Wales)

ACCOUNTANTS:

Brown McLeod Limited

Chartered Accountants

The Old Workshop

1 Ecclesall Road South

Sheffield

South Yorkshire

S11 9PA

FIXED ASSETS

Tangible assets

4

28,721

45,106

CURRENT ASSETS

Stocks

22,000

25,000

Debtors

5

878,845

118,257

Cash at bank

88,231

633,926

989,076

777,183

CREDITORS

Amounts falling due within one year

6

84,146

80,492

NET CURRENT ASSETS

904,930

696,691

TOTAL ASSETS LESS CURRENT LIABILITIES

933,651

741,797

PROVISIONS FOR LIABILITIES

4,068

6,876

NET ASSETS

929,583

734,921

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

928,583

733,921

929,583

734,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 2 December 2022 and were signed by:

G Williamson - Director

1.	STATUTORY INFORMATION

Studiomodern 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

104,173

Additions

649

Disposals

(7,461

)

At 31 March 2022

97,361

DEPRECIATION

At 1 April 2021

59,067

Charge for year

9,573

At 31 March 2022

68,640

NET BOOK VALUE

At 31 March 2022

28,721

At 31 March 2021

45,106

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

82,561

18,257

Other debtors

796,284

100,000

878,845

118,257

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

-

(1

)

Taxation and social security

70,212

65,115

Other creditors

13,934

15,378

84,146

80,492