Seed Studio Ltd - Period Ending 2015-05-31

Seed Studio Ltd - Period Ending 2015-05-31

STUART EDNEY DESIGN LTD - Company Information

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Seed Studio Ltd 05825770 false true 2014-06-01 2015-05-31 2015-05-31 05825770 2014-06-01 2015-05-31 05825770 2015-05-31 05825770 uk-bus:OrdinaryShareClass1 2015-05-31 05825770 uk-bus:Director1 2014-06-01 2015-05-31 05825770 uk-bus:OrdinaryShareClass1 2014-06-01 2015-05-31 05825770 uk-bus:EntityAccountantsOrAuditors 2014-06-01 2015-05-31 05825770 2014-05-31 05825770 2014-05-31 05825770 uk-bus:OrdinaryShareClass1 2014-05-31 iso4217:GBP xbrli:shares

Registration number: 05825770

Seed Studio Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

 

Seed Studio Ltd
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Seed Studio Ltd
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Seed Studio Ltd for the year ended 31 May 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Seed Studio Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Seed Studio Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seed Studio Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Seed Studio Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Seed Studio Ltd. You consider that Seed Studio Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Seed Studio Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MG Group (Professional Services) Ltd
Chartered Accountants
Audit House
260 Field End Road
Eastcote
Middlesex
HA4 9LT

20 March 2016

Page 1

 

Seed Studio Ltd
(Registration number: 05825770)
Abbreviated Balance Sheet at 31 May 2015

   

Note

    

2015
£

    

2014
£

  

Current assets

  

             

Debtors

  

   

16,408

   

18,649

 

Cash at bank and in hand

  

   

5,835

   

2

 
   

   

22,243

   

18,651

 

Creditors: Amounts falling due within one year

  

   

(21,113)

   

(17,445)

 

Net assets

  

   

1,130

   

1,206

 

Capital and reserves

  

             

Called up share capital

 

2

   

1,000

   

1,000

 

Profit and loss account

  

   

130

   

206

 

Shareholders' funds

  

   

1,130

   

1,206

 

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 20 March 2016 and signed on its behalf by:

.........................................
Mr Stuart Edney
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

 

Seed Studio Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

2

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1,000

   

1,000

   

1,000

   

1,000

 
                         

3

Related party transactions

Other related party transactions
 
During the year the company made the following related party transactions:
Mr Stuart Edney
 (Director)
During the year Mr Stuart Edney received loans from the company. Interest was charged at an annual rate of 3.25%. The maximum amount owed to the company during the year was £27,724. At the balance sheet date the amount due from Mr Stuart Edney was £16,408 (2014 - £17,649).

4

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 3