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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Estudio Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Estudio Limited |
Estudio Limited (Registered number: 04839224) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Abridged Statement of Financial Position | 3 |
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Notes to the Financial Statements | 4 | to | 5 |
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Estudio Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Estudio Limited |
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The following reproduces the text of the report prepared for the directors and members 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 Statement of Financial Position. 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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Estudio Limited for the year ended 31 December 2016 which comprise the Income |
Statement, Other Comprehensive Income, Abridged Statement of Financial Position, and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Estudio Limited, as a body, in accordance with the terms of our engagement letter dated 27 September 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Estudio Limited and state those matters that we have agreed to state to the Board of Directors of Estudio Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Estudio Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Estudio Limited 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 Estudio Limited. You consider that Estudio Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Estudio Limited. 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. |
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Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
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Estudio Limited (Registered number: 04839224) |
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Abridged Statement of Financial Position |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Estudio Limited (Registered number: 04839224) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Estudio Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net sales of services, excluding value added tax. |
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Tangible fixed assets |
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Computer equipment | - |
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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 Income Statement, |
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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Estudio Limited (Registered number: 04839224) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Included in other creditors is £1,614 (2015 : £1,185) due to J H Muller in respect of his directors loan |
account. |
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6. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |
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7. | FIRST YEAR ADOPTION |
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The policies applied under the entity's previous accounting framework are not materially different to |
FRS 102 Section 1A and have not impacted on equity or profit or loss. |
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