REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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SR STUDIO LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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FOR |
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SR STUDIO LIMITED |
SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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BALANCE SHEET |
29 FEBRUARY 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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BALANCE SHEET - continued |
29 FEBRUARY 2020 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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1. | STATUTORY INFORMATION |
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SR Studio Limited is a
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company's registered number and registered office address are as below: |
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Registered number: | 07315965 |
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Registered office: | Unit 3 Ground Floor |
64 De Beauvoir Crescent |
LONDON |
N1 5SB |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Depreciation |
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that |
asset as follows: |
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Leasehold Property
Improvements |
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- 10% Straight line |
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Fixtures, Fittings and
Equipment |
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- 10% Straight line |
Motor Vehicles | - 10% Straight line |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss |
account, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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Operating leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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4. | TANGIBLE FIXED ASSETS |
Leasehold | Fixtures |
Lease | property | and | Motor |
premium | improvement | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2019 |
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Additions |
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At 29 February 2020 |
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DEPRECIATION |
At 1 March 2019 |
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Charge for year |
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At 29 February 2020 |
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NET BOOK VALUE |
At 29 February 2020 |
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At 28 February 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 48,384 | 33,613 |
SR STUDIO LIMITED (REGISTERED NUMBER: 07315965) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2020 |
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7. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 March 2019 |
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Provided during year |
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Balance at 29 February 2020 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 29 February 2020 |
and 28 February 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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