Studio 35 (York) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10403908 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

STUDIO 35 (YORK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G L Mcgowan

Mr R J Thorpe

REGISTERED OFFICE:

35 Blossom Street

York

North Yorkshire

YO24 1AQ

REGISTERED NUMBER:

10403908 (England and Wales)

ACCOUNTANTS:

Fortus North Limited

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Tangible assets

4

50,869

28,868

CURRENT ASSETS

Stocks

67,699

83,251

Debtors

5

34,530

80,890

Cash at bank and in hand

27,732

41,679

129,961

205,820

CREDITORS

Amounts falling due within one year

6

141,627

175,085

NET CURRENT (LIABILITIES)/ASSETS

(11,666

)

30,735

TOTAL ASSETS LESS CURRENT LIABILITIES

39,203

59,603

CREDITORS

Amounts falling due after more than one year

7

42,578

50,000

NET (LIABILITIES)/ASSETS

(3,375

)

9,603

CAPITAL AND RESERVES

Called up share capital

8

200

200

Capital redemption reserve

(7,400

)

(7,400

)

Retained earnings

3,825

16,803

SHAREHOLDERS' FUNDS

(3,375

)

9,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 March 2023 and were signed on its behalf by:

Mr G L Mcgowan - Director

Mr R J Thorpe - Director

1.	STATUTORY INFORMATION

Studio 35 (York) 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.

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.

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

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

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

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 balance sheet date.

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.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2021

56,721

Additions

36,122

At 30 September 2022

92,843

DEPRECIATION

At 1 October 2021

27,853

Charge for year

14,121

At 30 September 2022

41,974

NET BOOK VALUE

At 30 September 2022

50,869

At 30 September 2021

28,868

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

16,751

8,860

Other debtors

17,779

72,030

34,530

80,890

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,259

-

Hire purchase contracts

2,959

-

Trade creditors

109,661

167,373

Taxation and social security

14,808

6,421

Other creditors

4,940

1,291

141,627

175,085

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

31,482

50,000

Hire purchase contracts

11,096

-

42,578

50,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

200

Ordinary

1

200

200

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2022 and 30 September 2021:

2022

2021

£

£

Mr G L Mcgowan

Balance outstanding at start of year

(5,022

)

(12,673

)

Amounts advanced

2,500

13,000

Amounts repaid

(476

)

(5,349

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,998

)

(5,022

)

Mr R J Thorpe

Balance outstanding at start of year

(5,034

)

(12,673

)

Amounts advanced

2,500

13,000

Amounts repaid

(476

)

(5,361

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,010

)

(5,034

)