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Company Registration No. 05104112 (England and Wales)
Studiorama Ltd Unaudited accounts for the year ended 31 March 2023
Studiorama Ltd Unaudited accounts Contents
Page
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Studiorama Ltd Company Information for the year ended 31 March 2023
Director
Ilir Morina
Company Number
05104112 (England and Wales)
Registered Office
18 Greek Street London W1D 4DS
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
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Studiorama Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
112,663 
132,884 
Investment property
840,000 
840,000 
952,663 
972,884 
Current assets
Debtors
41,841 
25,248 
Cash at bank and in hand
1,317 
426 
43,158 
25,674 
Creditors: amounts falling due within one year
(412,404)
(382,167)
Net current liabilities
(369,246)
(356,493)
Total assets less current liabilities
583,417 
616,391 
Creditors: amounts falling due after more than one year
(491,072)
(509,592)
Provisions for liabilities
Deferred tax
(20,520)
(20,520)
Net assets
71,825 
86,279 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
87,480 
87,480 
Profit and loss account
(15,656)
(1,202)
Shareholders' funds
71,825 
86,279 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Ilir Morina Director Company Registration No. 05104112
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Studiorama Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Studiorama Ltd is a private company, limited by shares, registered in England and Wales, registration number 05104112. The registered office is 18 Greek Street, London, W1D 4DS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Intangible fixed assets
Intangible fixed assets (including purchased lease premium) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Studiorama Ltd Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
170,000 
At 31 March 2023
170,000 
Amortisation
At 1 April 2022
37,116 
Other increase/(decrease)
20,221 
At 31 March 2023
57,337 
Net book value
At 31 March 2023
112,663 
At 31 March 2022
132,884 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
840,000 
At 31 March 2023
840,000 
Evaluation of property was carried out by Alex Fabrizio of Letstalkproperty (Company number 10697388) on March 2021. Next revaluation is due to take place after March 2022
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
33,600 
17,300 
Amounts due from group undertakings etc.
5,350 
5,350 
Accrued income and prepayments
2,891 
2,598 
41,841 
25,248 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,217 
2,082 
Trade creditors
12,864 
9,678 
Amounts owed to group undertakings and other participating interests
28,556 
- 
Taxes and social security
5,803 
7,155 
Other creditors
360,997 
2,700 
Loans from directors
- 
360,552 
Accruals
1,967 
- 
412,404 
382,167 
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Studiorama Ltd Notes to the Accounts for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
491,072 
509,592 
HSBC Mortgage - Units 8 and 8A Meridian Centre, Vulcan Way, Croydon CR0 9UG: balance @ 2020 - 533,479 - mortgage loan secured against the property at Vulcan Way Loan due after 5 years
9
Transactions with related parties
4MA Ltd (Co. No. 06549590) Company is controlled by Mr Perparim Rama. Amount outstanding owed by Studiorama Ltd at the year end was £28,556 (2022: £2,700 owed to 4MA Ltd) 4M Works Ltd (Co. No. 07341221) Company is controlled by Mr Perparim Rama. Amount outstanding owed by Studiorama Ltd at the year end was £5,350 (2022: £5,350)
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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