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REGISTERED NUMBER: 09994971 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

SF STUDIOS LTD

SF STUDIOS LTD (REGISTERED NUMBER: 09994971)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SF STUDIOS LTD

Company Information
for the year ended 28 February 2023







Directors: Ms S Ferreira
J Solyom





Registered office: 5 Ella Mews
London
NW3 2NH





Registered number: 09994971 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

SF STUDIOS LTD (REGISTERED NUMBER: 09994971)

Balance Sheet
28 February 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 16,574 29,874

Current assets
Debtors 5 39,415 37,431
Cash at bank 24,673 60,423
64,088 97,854
Creditors
Amounts falling due within one year 6 438,358 435,016
Net current liabilities (374,270 ) (337,162 )
Total assets less current liabilities (357,696 ) (307,288 )

Creditors
Amounts falling due after more than one
year

7

38,360

43,821
Net liabilities (396,056 ) (351,109 )

Capital and reserves
Called up share capital 9 20 20
Retained earnings 10 (396,076 ) (351,129 )
Shareholders' funds (396,056 ) (351,109 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:





Ms S Ferreira - Director


SF STUDIOS LTD (REGISTERED NUMBER: 09994971)

Notes to the Financial Statements
for the year ended 28 February 2023


1. Statutory information

SF 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

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.
Short leasehold - Straight line over 5 to 6 years
Plant and machinery - Straight line over 5 to 6 years
Fixtures and fittings - Straight line over 5 to 6 years
Computer equipment - Straight line over 5 to 6 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SF STUDIOS LTD (REGISTERED NUMBER: 09994971)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


3. Employees and directors

The average number of employees during the year was 5 (2022 - 6 ) .

4. Tangible fixed assets
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£ £ £ £ £
Cost
At 1 March 2022
and 28 February 2023 164,551 24,846 67,664 5,017 262,078
Depreciation
At 1 March 2022 159,086 16,282 54,088 2,748 232,204
Charge for year 5,465 3,924 3,390 521 13,300
At 28 February 2023 164,551 20,206 57,478 3,269 245,504
Net book value
At 28 February 2023 - 4,640 10,186 1,748 16,574
At 28 February 2022 5,465 8,564 13,576 2,269 29,874

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 895 671
Other debtors 13,018 12,312
VAT 6,145 8,064
Prepayments 19,357 16,384
39,415 37,431

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts (see note 8) 5,460 5,309
Trade creditors 4,937 4,613
Social security and other taxes 3,959 2,983
Wages payable - 842
Pension payable 182 102
Other creditors 356,724 246,207
Directors' current accounts 59,514 169,514
Accruals and deferred income 1,250 -
Accrued expenses 6,332 5,446
438,358 435,016

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans (see note 8) 38,360 43,821

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,929 21,035

SF STUDIOS LTD (REGISTERED NUMBER: 09994971)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


8. Loans

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 5,460 5,309

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,614 5,460

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,817 17,326

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,929 21,035

During the year ended 28 February 2021, the company received a Government Bounce Back Loan. The loan is secured by the government and is recognised at amortised cost using the effective interest rate method.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
14 Ordinary A £1 14 14
4 Ordinary B £1 4 4
2 Ordinary C £1 2 2
20 20

10. Reserves
Retained
earnings
£

At 1 March 2022 (351,129 )
Deficit for the year (44,947 )
At 28 February 2023 (396,076 )

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SF 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 SF Studios Ltd for the year ended 28 February 2023 which comprise the Statement of Income and Retained Earnings, 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 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.

This report is made solely to the Board of Directors of SF 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 SF Studios Ltd and state those matters that we have agreed to state to the Board of Directors of SF Studios Ltd, 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 SF Studios Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SF 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 loss of SF Studios Ltd. You consider that SF 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 SF 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.






Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY


20 November 2023