Nick Munro Studio Ltd - Accounts to registrar (filleted) - small 18.2

Nick Munro Studio Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 11690134 (England and Wales)















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: N S Munro





Registered office: 1 Kilmorey Park Road
Chester
CH2 3QT





Registered number: 11690134 (England and Wales)





Accountants: Ellis & Co
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 2,106 3,200

Current assets
Debtors 5 8,446 24,085
Cash at bank 6,121 19
14,567 24,104
Creditors
Amounts falling due within one year 6 14,111 13,050
Net current assets 456 11,054
Total assets less current liabilities 2,562 14,254

Capital and reserves
Called up share capital 7 100 100
Retained earnings 2,462 14,154
Shareholders' funds 2,562 14,254

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 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


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 31 August 2021 and were signed by:





N S Munro - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

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 1 (2019 - 1 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 December 2019 4,800
Additions 759
At 30 November 2020 5,559
Depreciation
At 1 December 2019 1,600
Charge for year 1,853
At 30 November 2020 3,453
Net book value
At 30 November 2020 2,106
At 30 November 2019 3,200

5. Debtors: amounts falling due within one year
30/11/20 30/11/19
£    £   
Trade debtors - 24,066
Other debtors 8,446 19
8,446 24,085

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 1,288 89
Taxation and social security 9,677 6,327
Other creditors 3,146 6,634
14,111 13,050

7. Called up share capital


Allotted and issued:
Number: Class: Nominal 30/11/20 30/11/19
value: £    £   
10,000 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
£    £   
N S Munro
Balance outstanding at start of year - -
Amounts advanced 30,511 -
Amounts repaid (23,893 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,618 -

Loans to the director are interest free and repayable on demand. The maximum balance outstanding during the year was £9,684.