STUDIO_ARGENT_LIMITED - Accounts

STUDIO ARGENT,LIMITED - Company Information

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Company Registration No. 00731254 (England and Wales)

STUDIO ARGENT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

STUDIO ARGENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

STUDIO ARGENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

992

40,984

Current assets

Stocks

10,295

11,200

Debtors

70,575

51,772

Cash at bank and in hand

43,406

66,928

124,276

129,900

Creditors: amounts falling due within one year

(21,967)

(39,458)

Net current assets

102,309

90,442

Total assets less current liabilities

103,301

131,426

103,301

131,426

Capital and reserves

Called up share capital

8,450

Other reserves

7,550

Profit and loss account

87,301

115,426

Shareholders' funds

103,301

131,426

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 3 April 2017

J G Organ

Director

Company Registration No. 00731254

STUDIO ARGENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

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:

Plant and machinery

33%

Fixtures, fittings & equipment

10 - 25%

Motor vehicles

25%

Fixed assets

Tangible assets

Cost

At 1 August 2015

317,091

Disposals

(288,001)

At 31 July 2016

29,090

Depreciation

At 1 August 2015

276,107

On disposals

(250,049)

Charge for the year

2,040

At 31 July 2016

28,098

Net book value

At 31 July 2016

992

At 31 July 2015

40,984

STUDIO ARGENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

7,700 Ordinary shares of £1 each

7,700

750 'B' Ordinary shares of £1 each

750

8,450

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J G Organ -

5,720

Other transactions

During the year the company sold a vehicle to B D Jackson, a director, in an arms length transaction for £29,000.