Studio 11:11 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07062493 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Studio 11:11 Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S J Rudd

REGISTERED OFFICE:

Grove House

1 Grove Place

Bedford

Bedfordshire

MK40 3JJ

REGISTERED NUMBER:

07062493 (England and Wales)

ACCOUNTANTS:

Thompsons Accountancy Services Limited

Chartered Accountants

Grove House

1 Grove Place

Bedford

Bedfordshire

MK40 3JJ

CREDITORS

Amounts falling due within one year

7

297,324

289,085

NET CURRENT LIABILITIES

(297,324

)

(289,085

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(297,324

)

(289,085

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(297,325

)

(289,086

)

SHAREHOLDERS' FUNDS

(297,324

)

(289,085

)

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

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

The director acknowledges her 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 director and authorised for issue on 30 July 2021 and were signed by:

Ms S J Rudd - Director

1.	STATUTORY INFORMATION

Studio 11:11 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, was being amortised over ten years but has been fully written off this year as its deemed realisable value was considered to be £NIL.

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

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

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2019

and 31 October 2020

75,000

AMORTISATION

At 1 November 2019

and 31 October 2020

75,000

NET BOOK VALUE

At 31 October 2020

-

At 31 October 2019

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2019

and 31 October 2020

28,915

DEPRECIATION

At 1 November 2019

and 31 October 2020

28,915

NET BOOK VALUE

At 31 October 2020

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Taxation and social security

20,972

44,175

Other creditors

276,352

244,910

297,324

289,085