Company Registration No. 06482932 (England and Wales)
SM2 STUDIO LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
SM2 STUDIO LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
SM2 STUDIO LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,350
1,154
Current assets
Debtors
1,599
2,395
Cash at bank and in hand
20,913
7,020
22,512
9,415
Creditors: amounts falling due within one year
(15,111)
(7,065)
Net current assets
7,401
2,350
Total assets less current liabilities
8,751
3,504
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
7,751
2,504
Shareholders' funds
8,751
3,504
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 11 July 2016
Mr S C Manley
Director
Company Registration No. 06482932
SM2 STUDIO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015
8,510
Additions
1,199
At 31 January 2016
9,709
Depreciation
At 1 February 2015
7,356
Charge for the year
1,003
At 31 January 2016
8,359
Net book value
At 31 January 2016
1,350
At 31 January 2015
1,154
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
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