Steve Russell Studios Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04708949 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Steve Russell Studios Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S Russell

REGISTERED OFFICE:

Unit 8a Chalford Industrial Estate

Chalford

Stroud

Gloucestershire

GL6 8NT

REGISTERED NUMBER:

04708949 (England and Wales)

ACCOUNTANTS:

Francis & Co

Second Floor

123 Promenade

Cheltenham

Gloucestershire

GL50 1NW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

240,389

239,208

240,389

239,208

CURRENT ASSETS

Stocks

3,517

7,037

Debtors

6

56,075

21,739

Cash at bank and in hand

61,341

72,905

120,933

101,681

CREDITORS

Amounts falling due within one year

7

42,726

47,749

NET CURRENT ASSETS

78,207

53,932

TOTAL ASSETS LESS CURRENT LIABILITIES

318,596

293,140

CREDITORS

Amounts falling due after more than one year

8

60,426

74,727

NET ASSETS

258,170

218,413

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

258,070

218,313

SHAREHOLDERS' FUNDS

258,170

218,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 30 July 2021 and were signed by:

Mr S Russell - Director

1.	STATUTORY INFORMATION

Steve Russell Studios 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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

-

25% on reducing balance

Stocks

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

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 7 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

50,000

AMORTISATION

At 1 July 2020

and 30 June 2021

50,000

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

191,953

202,359

394,312

Additions

-

17,327

17,327

At 30 June 2021

191,953

219,686

411,639

DEPRECIATION

At 1 July 2020

-

155,104

155,104

Charge for year

-

16,146

16,146

At 30 June 2021

-

171,250

171,250

NET BOOK VALUE

At 30 June 2021

191,953

48,436

240,389

At 30 June 2020

191,953

47,255

239,208

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

56,075

21,739

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

14,301

14,301

Trade creditors

700

317

Taxation and social security

26,062

31,129

Other creditors

1,663

2,002

42,726

47,749

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

60,426

74,727

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

80

Ordinary A

£1

80

80

10

Ordinary B

£1

10

10

10

Ordinary C

£1

10

10

100

100