Company Registration No. 4372438 (England and Wales)
Studio 18 Ltd
Unaudited accounts
for the year ended 31 March 2017
Studio 18 Ltd
Unaudited accounts
Contents
Studio 18 Ltd
Company Information
for the year ended 31 March 2017
Company Number
4372438 (England and Wales)
Registered Office
28a Townsend Road
Enderby
Leicester
LE9 5PG
Studio 18 Ltd
Statement of financial position
as at 31 March 2017
Tangible assets
2,105
1,088
Cash at bank and in hand
40,025
49,612
Creditors: amounts falling due within one year
(123,438)
(126,632)
Net current liabilities
(59,928)
(51,392)
Net liabilities
(57,823)
(50,304)
Called up share capital
100
100
Profit and loss account
(57,923)
(50,404)
Shareholders' funds
(57,823)
(50,304)
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 17 July 2017.
D W Pacey
Director
Company Registration No. 4372438
Studio 18 Ltd
Notes to the Accounts
for the year ended 31 March 2017
Studio 18 Ltd is a private company, limited by shares, registered in England and Wales, registration number 4372438. The registered office and principal place of business is 28a Townsend Road, Enderby, Leicester, LE9 5PG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Studio 18 Ltd
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
Finished goods
10,650
13,954
Deferred tax asset
4,036
2,783
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
10,056
11,399
Other creditors
113,379
113,269
Loans from directors
3
1,964
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).
