Caseware UK (AP4) 2022.0.179 2022.0.179 4true2022-01-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09484852 2022-01-01 2022-12-31 09484852 2021-01-01 2021-12-31 09484852 2022-12-31 09484852 2021-12-31 09484852 c:Director1 2022-01-01 2022-12-31 09484852 c:Director2 2022-01-01 2022-12-31 09484852 d:Buildings d:LongLeaseholdAssets 2022-01-01 2022-12-31 09484852 d:Buildings d:LongLeaseholdAssets 2022-12-31 09484852 d:Buildings d:LongLeaseholdAssets 2021-12-31 09484852 d:Buildings d:ShortLeaseholdAssets 2022-01-01 2022-12-31 09484852 d:Buildings d:ShortLeaseholdAssets 2022-12-31 09484852 d:Buildings d:ShortLeaseholdAssets 2021-12-31 09484852 d:FurnitureFittings 2022-01-01 2022-12-31 09484852 d:FurnitureFittings 2022-12-31 09484852 d:FurnitureFittings 2021-12-31 09484852 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09484852 d:OfficeEquipment 2022-01-01 2022-12-31 09484852 d:OfficeEquipment 2022-12-31 09484852 d:OfficeEquipment 2021-12-31 09484852 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09484852 d:ComputerEquipment 2022-01-01 2022-12-31 09484852 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09484852 d:CurrentFinancialInstruments 2022-12-31 09484852 d:CurrentFinancialInstruments 2021-12-31 09484852 d:Non-currentFinancialInstruments 2022-12-31 09484852 d:Non-currentFinancialInstruments 2021-12-31 09484852 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09484852 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09484852 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09484852 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09484852 d:ShareCapital 2022-12-31 09484852 d:ShareCapital 2021-12-31 09484852 d:RetainedEarningsAccumulatedLosses 2022-12-31 09484852 d:RetainedEarningsAccumulatedLosses 2021-12-31 09484852 c:FRS102 2022-01-01 2022-12-31 09484852 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09484852 c:FullAccounts 2022-01-01 2022-12-31 09484852 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09484852 d:MoreThanFiveYears 2022-12-31 09484852 d:MoreThanFiveYears 2021-12-31 09484852 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09484852 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 09484852










SR Studio 93 Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2022

 
SR Studio 93 Limited
Registered number: 09484852

Statement of Financial Position
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
953,549
1,080,056

  
953,549
1,080,056

Current assets
  

Stocks
 5 
75,650
39,341

Debtors: amounts falling due within one year
 6 
235,511
569,617

Cash at bank and in hand
  
126,173
132,583

  
437,334
741,541

Creditors: amounts falling due within one year
 7 
(256,372)
(344,055)

Net current assets
  
 
 
180,962
 
 
397,486

Total assets less current liabilities
  
1,134,511
1,477,542

Creditors: amounts falling due after more than one year
 8 
(1,835,840)
(2,125,389)

Provisions for liabilities
  

Deferred tax
 9 
(5,769)
(2,980)

  
 
 
(5,769)
 
 
(2,980)

Net liabilities
  
(707,098)
(650,827)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(707,198)
(650,927)

  
(707,098)
(650,827)


Page 1

 
SR Studio 93 Limited
Registered number: 09484852
    
Statement of Financial Position (continued)
As at 31 December 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Bolger
S Rocha
Director
Director


Date: 24 November 2023
Date:24 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

1.


General information

SR Studio 93 Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 64 De Beauvoir Crescent, Islington, London, England, N1 5SB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
At the balance sheet date, the companies liabilities exceed its assets.  The company relies on loans made by SR Studio Limited and Three Moon (UK) Limited, which are both related parties, and has received assurances that that they will not withdraw their support for at least the next 12 months.
The directors believe that it is therefore appropriate for the financial statements to be prepared on the going concern basis.  These accounts do not include any adjustments which might be required as a result of the withdrawal of that support.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Page 3

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Equal instalments over period of lease
Improvements to property
-
Equal instalments over period of lease
Fixtures and fittings
-
25%
on cost
Computer equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 5

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

4.


Tangible fixed assets





Long-term leasehold property
Improve- ments to property
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2022
1,788,961
148,482
176,571
6,257
2,120,271


Additions
-
-
20,022
-
20,022



At 31 December 2022

1,788,961
148,482
196,593
6,257
2,140,293



Depreciation


At 1 January 2022
785,156
87,915
160,887
6,257
1,040,215


Charge for the year on owned assets
119,264
14,848
12,417
-
146,529



At 31 December 2022

904,420
102,763
173,304
6,257
1,186,744



Net book value



At 31 December 2022
884,541
45,719
23,289
-
953,549



At 31 December 2021
1,003,805
60,567
15,684
-
1,080,056


5.


Stocks

2022
2021
£
£

Goods for resale
75,650
39,341

75,650
39,341


Page 6

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

6.


Debtors

2022
2021
£
£


Trade debtors
7,745
27,098

Other debtors
180,001
180,001

Prepayments and accrued income
47,765
362,518

235,511
569,617



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
34,128
183,262

Corporation tax
18,580
35,326

Other taxation and social security
78,205
41,960

Other creditors
532
640

Accruals and deferred income
124,927
82,867

256,372
344,055


2022
2021
£
£

Other taxation and social security

PAYE/NI control
6,240
5,210

VAT control
71,964
36,750

78,204
41,960



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other creditors
1,835,840
2,125,389

1,835,840
2,125,389


Page 7

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

9.


Deferred taxation




2022


£






At beginning of year
(2,980)


Charged to the profit or loss
(2,789)



At end of year
(5,769)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
5,769
2,980


10.


Pension commitments

The Company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the Company in an independently administered fund.  The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2021 - £2,463). Contributions totalling £532 (2021 - £640) were payable to the fund at the reporting date and are included in other creditors.


11.


Leasing agreements

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Later than 5 years
2,825,000
2,825,000

2,825,000
2,825,000

Page 8

 
SR Studio 93 Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2022

12.


Related party transactions

SR Studio Limited is a company in which S Rocha is a director and shareholder and D Bolger is a director.
In addition, SR Studio Limited made loans to the company in order to facilitate the company's trading. The amount due to SR Studio Limited at the balance sheet date was £960,289 (31 December 2021: £452,357), which is included within other creditors due after more than one year. This loan was provided interest free with no fixed repayment date.
Three Moon (UK) Limited is a connected party registered in The Isle of Man.  During the year, Three Moon (UK) Limited provided funds to facilitate the company's trading. The amount due to Three Moon (UK) Limited at the balance sheet date was £875,551 (31 December 2021: £1,673,030) and is included within other creditors due after more than one year. These funds were provided interest free with no fixed repayment date.


13.


Controlling party

The controlling party is S Rocha.

 
Page 9