Ochre Red Studios Limited Small abbreviated accounts

Ochre Red Studios Limited Small abbreviated accounts

OCHRE RED STUDIOS LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-02-17 2017-02-17 false true false false false false false false false false false false true true 2015-06-01 true xbrli:pure xbrli:shares iso4217:GBP 08066728 2015-06-01 2016-05-31 08066728 2016-05-31 08066728 2015-05-31 08066728 2015-05-31 08066728 uk-gaap:OfficeEquipment 2015-06-01 2016-05-31 08066728 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-06-01 2016-05-31 08066728 uk-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 08066728 uk-bus:Director1 2015-06-01 2016-05-31 08066728 uk-gaap:AllSubsidiaries 2015-06-01 2016-05-31 08066728 uk-bus:OrdinaryShareClass1 2016-05-31 08066728 uk-bus:OrdinaryShareClass1 2015-05-31 08066728 uk-lang:English 2015-06-01 2016-05-31 08066728 uk-curr:PoundSterling 2015-06-01 2016-05-31
COMPANY REGISTRATION NUMBER 08066728
OCHRE RED STUDIOS LIMITED
ABBREVIATED ACCOUNTS
31 May 2016
ASH ACCOUNTING (BINGHAM) LTD
Accountants
Fairfield House
1 Fairfield Street
Bingham
Nottingham
NG13 8FB
OCHRE RED STUDIOS LIMITED
ABBREVIATED BALANCE SHEET
31 May 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Tangible assets
1,172
1,264
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CURRENT ASSETS
Debtors
4,464
7,235
Cash at bank and in hand
1,581
3,508
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6,045
10,743
CREDITORS: Amounts falling due within one year
6,966
9,230
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NET CURRENT (LIABILITIES)/ASSETS
( 921)
1,513
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-------
TOTAL ASSETS LESS CURRENT LIABILITIES
251
2,777
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CAPITAL AND RESERVES
Called up equity share capital
3
1
1
Profit and loss account
250
2,776
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SHAREHOLDERS' FUNDS
251
2,777
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For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 16 February 2017 .
Mr J S Randall Director
Company Registration Number: 08066728
OCHRE RED STUDIOS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MAY 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment-25% reducing balance
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2. FIXED ASSETS
Tangible Assets
£
COST
At 1 June 2015
2,996
Additions
299
-------
At 31 May 2016
3,295
-------
DEPRECIATION
At 1 June 2015
1,732
Charge for year
391
-------
At 31 May 2016
2,123
-------
NET BOOK VALUE
At 31 May 2016
1,172
-------
At 31 May 2015
1,264
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3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
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