STUDIO ON THE RYE LTD

STUDIO ON THE RYE LTD

STUDIO ON THE RYE LTD - Company Information

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STUDIO ON THE RYE LTD

Company Registration Number:
10732934 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 20 April 2017

End date: 31 March 2018

STUDIO ON THE RYE LTD

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

STUDIO ON THE RYE LTD

Balance sheet

As at 31 March 2018


Notes
11 months to 31 March 2018


£
Current assets
Debtors:   20,160
Cash at bank and in hand: 34,540
Total current assets: 54,700
Creditors: amounts falling due within one year:   (11,715)
Net current assets (liabilities): 42,985
Total assets less current liabilities: 42,985
Total net assets (liabilities): 42,985
Capital and reserves
Called up share capital: 1
Profit and loss account: 42,984
Shareholders funds: 42,985

The notes form part of these financial statements

STUDIO ON THE RYE LTD

Balance sheet statements

For the year ending 31 March 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 December 2018
and signed on behalf of the board by:

Name: Sarah Borowiecka
Status: Director

The notes form part of these financial statements

STUDIO ON THE RYE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Other accounting policies

TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

STUDIO ON THE RYE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Employees

11 months to 31 March 2018
Average number of employees during the period 1

STUDIO ON THE RYE LTD

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Loans to directors

Name of director receiving advance or credit: Sarah Borowiecka
Description of the loan: The balance at the year end relates to an advances made during the period and was fully paid on 23rd December 2018.
£
Advances or credits made: 20,160
Advances or credits repaid: 0
Balance at 31 March 2018 20,160