REGISTERED NUMBER: 08004781(England and Wales)
Unaudited Financial Statements for the Year Ended 31 March 2019
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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.
Additive Studios Ltd 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.
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
25% on reducing balance
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income
Statement, except to the extent that it relates to items recognised in other comprehensive
income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
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.
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date.
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.
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.
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.
The following reproduces the text of the report prepared for the directors in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the
Income Statement and certain other primary statements and the Report of the Directors are
not required to be filed with the Registrar of Companies.
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2019 set out on pages two to six and you consider that the company is exempt from an audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
CPS Accountancy Ltd
Chartered Certified Accountants
10a Aldermans Hill
29 July 2019
This page does not form part of the statutory financial statements