Stoke Studios Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10707862 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2020

for

Stoke Studios Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J T Gordon

P J Bland

M R Hubbard

REGISTERED OFFICE:

Office 3

The Production House

The Boulevard

Tunstall

Staffordshire

ST6 6DW

REGISTERED NUMBER:

10707862 (England and Wales)

CURRENT ASSETS

Debtors

4

13,100

5,003

Cash at bank

9,728

11

22,828

5,014

CREDITORS

Amounts falling due within one year

5

8,832

1,438

NET CURRENT ASSETS

13,996

3,576

TOTAL ASSETS LESS CURRENT LIABILITIES

13,996

3,576

CREDITORS

Amounts falling due after more than one year

6

13,345

-

NET ASSETS

651

3,576

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

648

3,573

651

3,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

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

J T Gordon - Director

1.	STATUTORY INFORMATION

Stoke 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.

The financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company’s current and expected performance.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract and when all of the following conditions are satisfied:

-

the amount of turnover can be measured reliably;

-

it is probable that the company will received the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Usually, turnover from the sale of services is recognised over the period in which the contract is in force.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Financial instruments

Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

2,500

500

Other debtors

10,600

4,503

13,100

5,003

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

1,655

-

Trade creditors

4,800

-

Taxation and social security

1,777

838

Other creditors

600

600

8,832

1,438

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

13,345

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,323

-

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 November 2020 and the period ended 30 November 2019:

2020

2019

£

£

P J Bland

Balance outstanding at start of year

1,501

-

Amounts advanced

2,000

1,501

Amounts repaid

(3,501

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,501

M R Hubbard

Balance outstanding at start of year

1,501

-

Amounts advanced

12,000

1,501

Amounts repaid

(3,501

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

1,501

J T Gordon

Balance outstanding at start of year

1,501

-

Amounts advanced

2,000

1,501

Amounts repaid

(3,501

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,501