Nick Munro Studio Ltd - Accounts to registrar (filleted) - small 18.2
Nick Munro Studio Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2020 |
for |
Nick Munro Studio Ltd |
Nick Munro Studio Ltd (Registered number: 11690134) |
Contents of the Financial Statements |
for the Year Ended 30 November 2020 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Nick Munro Studio Ltd |
Company Information |
for the Year Ended 30 November 2020 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Nick Munro Studio Ltd (Registered number: 11690134) |
Statement of Financial Position |
30 November 2020 |
30/11/20 | 30/11/19 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
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. |
Nick Munro Studio Ltd (Registered number: 11690134) |
Statement of Financial Position - continued |
30 November 2020 |
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 |
Nick Munro Studio Ltd (Registered number: 11690134) |
Notes to the Financial Statements |
for the Year Ended 30 November 2020 |
1. | Statutory information |
Nick Munro Studio Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
Tangible fixed assets |
Fixtures and fittings | - |
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 statement of financial position date. |
Nick Munro Studio Ltd (Registered number: 11690134) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2020 |
2. | Accounting policies - continued |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 December 2019 |
Additions |
At 30 November 2020 |
Depreciation |
At 1 December 2019 |
Charge for year |
At 30 November 2020 |
Net book value |
At 30 November 2020 |
At 30 November 2019 |
5. | Debtors: amounts falling due within one year |
30/11/20 | 30/11/19 |
£ | £ |
Trade debtors |
Other debtors |
Nick Munro Studio Ltd (Registered number: 11690134) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2020 |
6. | Creditors: amounts falling due within one year |
30/11/20 | 30/11/19 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted and issued: |
Number: | Class: | Nominal | 30/11/20 | 30/11/19 |
value: | £ | £ |
Share capital 1 | 0.01 | 100 | 100 |
Of the 10,000 shares issued, 1,907 shares were unpaid at the period end. The amount due on these shares has been included as a debtor in the company accounts. |
8. | Director's advances, credits and guarantees |
The following advances and credits to a director subsisted during the year ended 30 November 2020 and the period ended 30 November 2019: |
30/11/20 | 30/11/19 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Loans to the director are interest free and repayable on demand. The maximum balance outstanding during the year was £9,684. |