Our Studio Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 06763143 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

OUR STUDIO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms S Crothers

Mr N Harrison

SECRETARY:

Ms S Crothers

REGISTERED OFFICE:

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

REGISTERED NUMBER:

06763143 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

National Westminster Bank Plc

Direct Business Banking

PO Box 4115

Hornchurch

Essex

RM12 4DF

FIXED ASSETS

Tangible assets

4

19,647

31,288

CURRENT ASSETS

Debtors

5

193,053

74,419

Cash at bank and in hand

86,640

134,356

279,693

208,775

CREDITORS

Amounts falling due within one year

6

225,389

183,457

NET CURRENT ASSETS

54,304

25,318

TOTAL ASSETS LESS CURRENT LIABILITIES

73,951

56,606

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

73,949

56,604

SHAREHOLDERS' FUNDS

73,951

56,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 March 2017 and were signed on its behalf by:

Ms S Crothers - Director

1.	STATUTORY INFORMATION

Our Studio 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration

in exchange for its performance of its obligations under the sales contract with the customer. The amount

reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual

arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2016

77,084

Additions

8,158

At 31 December 2016

85,242

DEPRECIATION

At 1 January 2016

45,796

Charge for year

19,799

At 31 December 2016

65,595

NET BOOK VALUE

At 31 December 2016

19,647

At 31 December 2015

31,288

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

182,862

72,860

Other debtors

10,191

1,559

193,053

74,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

9,110

8,375

Taxation and social security

92,623

59,292

Other creditors

123,656

115,790

225,389

183,457

7.	TRANSACTIONS WITH DIRECTORS

The following loans from directors subsisted during the years ended 31 December 2016 and 31 December 2015:

31.12.16

31.12.15

£

£

Ms S Crothers

Balance outstanding at start of year

39,900

16,193

Amounts advanced

84,000

69,000

Amounts repaid

(74,000

)

(45,293

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

49,900

39,900

Mr N Harrison

Balance outstanding at start of year

30,000

12,409

Amounts advanced

84,000

69,000

Amounts repaid

(64,000

)

(51,409

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

50,000

30,000

These loans are interest free and there are no terms governing their repayment.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms S Crothers.