Additive Studios Ltd - Accounts to registrar (filleted) - small 18.2

Additive Studios Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 08004781(England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Additive Studios Ltd

Additive Studios Ltd (Registered number: 08004781)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Additive Studios Ltd

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Matthew Stevens
Peter Aylward





REGISTERED OFFICE: Studio 8
Great Western Studios
65 Alfred Road
Paddington
London
W2 5EU





REGISTERED NUMBER: 08004781(England and Wales)





ACCOUNTANTS: CPS Accountancy Ltd
Chartered Certified Accountants
C205 The Chocolate Factory
5 Clarendon Road
Wood Green
London
N22 6XJ

Additive Studios Ltd (Registered number: 08004781)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,440 31,000

CURRENT ASSETS
Debtors 5 134,023 28,564
Cash at bank and in hand 256,607 170,244
390,630 198,808
CREDITORS
Amounts falling due within one year 6 107,834 88,239
NET CURRENT ASSETS 282,796 110,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,236

141,569

PROVISIONS FOR LIABILITIES 7 6,544 5,890
NET ASSETS 310,692 135,679

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 310,592 135,579
SHAREHOLDERS' FUNDS 310,692 135,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

Additive Studios Ltd (Registered number: 08004781)

Balance Sheet - continued
31 March 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on
26 August 2020and were signed on its behalf by:




Peter Aylward- Director



Matthew Stevens- Director


Additive Studios Ltd (Registered number: 08004781)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

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.

2. ACCOUNTING POLICIES

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
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.
Computer equipment - 25% on reducing balance

Taxation
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
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Additive Studios Ltd (Registered number: 08004781)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4(2019 - 4) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2019 75,253
Additions 14,920
At 31 March 2020 90,173
DEPRECIATION
At 1 April 2019 44,253
Charge for year 11,480
At 31 March 2020 55,733
NET BOOK VALUE
At 31 March 2020 34,440
At 31 March 2019 31,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 132,281 26,822
Other debtors 1,742 1,742
134,023 28,564

Additive Studios Ltd (Registered number: 08004781)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Bank loans and overdrafts - 3,224
Trade creditors 377 1,534
Tax 48,893 28,742
Social security and other taxes 361 423
VAT 3,076 4,383
Directors' loan accounts 51,739 48,883
Accrued expenses 3,388 1,050
107,834 88,239

7. PROVISIONS FOR LIABILITIES
31.3.20 31.3.19
£    £   
Deferred tax 6,544 5,890

Deferred
tax
£   
Balance at 1 April 2019 5,890
Charge to Income Statement during year 654
Balance at 31 March 2020 6,544

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.20 31.3.19
value: £    £   
100 Ordinary 1 100 100

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Additive Studios Ltd

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approval the financial statements of Additive Studios Ltd for the year ended 31 March 2020 which
comprise the Income Statement, Balance Sheet and the related notes from the company's accounting
records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Additive Studios Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Additive Studios Ltd and state those matters that we have agreed to state to the Board of Directors of Additive Studios Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Additive Studios Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Additive Studios Ltd. You consider that Additive Studios Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Additive Studios Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CPS Accountancy Ltd
Chartered Certified Accountants
C205 The Chocolate Factory
5 Clarendon Road
Wood Green
London
N22 6XJ



Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Additive Studios Ltd

26 August 2020