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Registration number: 06971760

Superstudio Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 July 2014
 

Broadhead Accountants Limited

 

Superstudio Limited
Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6 to 8

 

Superstudio Limited
Company Information

Directors

Jenny Lau-Fuller

Andrew Fuller

Registered office

82 Belgrave Road
Leytonstone
London
E11 3QP

Page 1

 

Superstudio Limited
Directors' Report for the Year Ended 31 July 2014

The directors present their report and the unaudited financial statements for the year ended 31 July 2014.

Directors of the company

The directors who held office during the year were as follows:

Jenny Lau-Fuller

Andrew Fuller

Principal activity

The principal activity of the company is providing design consultancy services.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 5 April 2015 and signed on its behalf by:

.........................................
Jenny Lau-Fuller
Director

.........................................
Andrew Fuller
Director

Page 2

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
 Superstudio Limitedfor the Year Ended 31 July 2014

In order to assist you to fulfil your directors' duties under the Companies Act 2006, we have prepared for your review and approval the financial statements of Superstudio Limited for the year ended 31 July 2014. These financial statements have been prepared from the company's accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to ethical and other professional requirements.

This report is made solely to the Board of Directors of Superstudio Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Superstudio Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Superstudio Limited and its Board of Directors as a body for our work or for this report.

The acceptance of the financial statements and the directors' report by the directors indicates acceptance of our accountants' report too. Use of these financial statements by external parties indicates acknowledgement of these conditions and limitations.


 
  ......................................
  Broadhead Accountants Limited Chartered Accountants Suite 402 Britannia House 1-11 Glenthorne Road Hammersmith London W6 0LH
 
 
 

9 April 2015

Page 3

 

Superstudio Limited
Profit and Loss Account for the Year Ended 31 July 2014

 

Note

    

2014
£

    

2013
£

  

Turnover

  

   

96,325

   

77,015

 

Administrative expenses

  

   

(60,605)

   

(53,027)

 

Operating profit

  

   

35,720

   

23,988

 

Other interest receivable and similar income

  

   

-

    

26

 

Profit on ordinary activities before taxation

  

   

35,720

   

24,014

 

Tax on profit on ordinary activities

  

3

   

(7,144)

   

(4,803)

 

Profit for the financial year

  

8

   

28,576

   

19,211

 

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

 

Superstudio Limited
(Registration number: 06971760)
Balance Sheet at 31 July 2014

 

Note

    

2014
£

    

2013
£

  

Current assets

  

   

   

 

Debtors

  

4

   

-

    

10,650

 

Cash at bank and in hand

  

   

12,849

   

7,625

 

 

   

12,849

   

18,275

 

Creditors: Amounts falling due within one year

  

5

   

(11,300)

   

(17,802)

 

Net assets

  

   

1,549

   

473

 

Capital and reserves

  

   

   

 

Called up share capital

 

6

   

100

   

100

 

Profit and loss account

  

8

   

1,449

   

373

 

Shareholders' funds

  

   

1,549

   

473

 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board on 5 April 2015 and signed on its behalf by:

.........................................
Jenny Lau-Fuller
Director

.........................................
Andrew Fuller
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

 

Superstudio Limited
Notes to the Financial Statements for the Year Ended 31 July 2014
......... continued

1

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Directors' remuneration

The directors' remuneration for the year was as follows:

 

2014
£

    

2013
£

  

 

   

 

Remuneration

  

12,908

   

15,120

 

3

Taxation

Tax on profit on ordinary activities

 

2014
£

    

2013
£

  

Current tax

  

   

 

Corporation tax charge

  

7,144

   

4,803

 

Page 6

 

Superstudio Limited
Notes to the Financial Statements for the Year Ended 31 July 2014
......... continued

4

Debtors

 

2014
£

    

2013
£

  

 

   

 

Trade debtors

  

-

    

10,650

 

 

-

    

10,650

 

5

Creditors: Amounts falling due within one year

 

2014
£

    

2013
£

  

 

   

 

Trade creditors

  

900

   

780

 

Corporation tax

  

7,144

   

4,803

 

Other taxes and social security

  

1,370

   

2,545

 

Other creditors

  

1,886

   

9,674

 

 

11,300

   

17,802

 

6

Share capital

Allotted, called up and fully paid shares

 

2014

2013

   

No.

   

£

   

No.

   

£

 

Ordinary share of £1 each

 

100

   

100

   

100

   

100

 
                         

7

Dividends

 

2014
£

    

2013
£

  

Dividends paid

  

   

 

Current year interim dividend paid

  

27,500

   

53,000

 

Page 7

 

Superstudio Limited
Notes to the Financial Statements for the Year Ended 31 July 2014
......... continued

8

Reserves

   

Profit and loss account
£

    

Total
£

  
             

At 1 August 2013

  

373

    

373

  
             

Profit for the year

  

28,576

    

28,576

 

Dividends

  

(27,500)

   

(27,500)

 

At 31 July 2014

  

1,449

    

1,449

  

Page 8