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REGISTERED NUMBER: 05828610 (England and Wales)














Financial Statements

for the Year Ended 31 August 2023

for

Oriel Studios Digital Ltd

Oriel Studios Digital Ltd (Registered number: 05828610)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oriel Studios Digital Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: P Corrin
M D Cummins
A Wilson





SECRETARY: M D Cummins





REGISTERED OFFICE: Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 05828610 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Oriel Studios Digital Ltd (Registered number: 05828610)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 231,958 307,478
Investments 6 1 1
231,959 307,479

CURRENT ASSETS
Stocks 9,100 9,600
Debtors 7 204,005 261,214
Cash at bank and in hand 108,517 125,841
321,622 396,655
CREDITORS
Amounts falling due within one year 8 233,594 254,173
NET CURRENT ASSETS 88,028 142,482
TOTAL ASSETS LESS CURRENT LIABILITIES 319,987 449,961

CREDITORS
Amounts falling due after more than one year 9 (98,244 ) (159,100 )

PROVISIONS FOR LIABILITIES (55,546 ) (56,012 )
NET ASSETS 166,197 234,849

CAPITAL AND RESERVES
Called up share capital 12 3,913 3,913
Share premium 57,485 57,485
Capital redemption reserve 5,000 5,000
Retained earnings 99,799 168,451
SHAREHOLDERS' FUNDS 166,197 234,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Oriel Studios Digital Ltd (Registered number: 05828610)

Balance Sheet - continued
31 August 2023


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 30 January 2024 and were signed on its behalf by:




P Corrin - Director A Wilson - Director




M D Cummins - Director


Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Oriel Studios Digital 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.

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.

Turnover
Turnover represents the fair value of sales made to customers, less returns and VAT. Revenue is recognised at the point of sale.

Goodwill
Goodwill, being amounts paid in connection with the acquisition of businesses in 2006 and 2013, has been amortised evenly over the estimated useful lives of ten years and five years respectively.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Fixed assets are recognised at historical cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles- 25% on reducing balance
Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance
Improvements to property-25% on reducing balance
Computer equipment- 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.


Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 269,001
AMORTISATION
At 1 September 2022
and 31 August 2023 269,001
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 13,221 894,929 11,005
Additions - - -
At 31 August 2023 13,221 894,929 11,005
DEPRECIATION
At 1 September 2022 4,419 634,725 8,178
Charge for year 2,200 65,052 706
At 31 August 2023 6,619 699,777 8,884
NET BOOK VALUE
At 31 August 2023 6,602 195,152 2,121
At 31 August 2022 8,802 260,204 2,827

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 72,289 59,452 1,050,896
Additions - 1,495 1,495
At 31 August 2023 72,289 60,947 1,052,391
DEPRECIATION
At 1 September 2022 56,630 39,466 743,418
Charge for year 3,916 5,141 77,015
At 31 August 2023 60,546 44,607 820,433
NET BOOK VALUE
At 31 August 2023 11,743 16,340 231,958
At 31 August 2022 15,659 19,986 307,478

Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 18,300 7,018 25,318
DEPRECIATION
At 1 September 2022 10,943 655 11,598
Charge for year 1,839 1,591 3,430
At 31 August 2023 12,782 2,246 15,028
NET BOOK VALUE
At 31 August 2023 5,518 4,772 10,290
At 31 August 2022 7,357 6,363 13,720

6. FIXED ASSET INVESTMENTS

The investment shown on the balance sheet relates to a £1 share in Megabigprint.Com Limited, a dormant company registered in England & Wales.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 170,679 219,174
Amounts recoverable on contract 30,000 35,000
Other debtors 3,326 7,040
204,005 261,214

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 58,167 55,336
Hire purchase contracts (see note 10) 2,142 10,609
Trade creditors 66,448 112,305
Taxation and social security 64,403 38,450
Other creditors 42,434 37,473
233,594 254,173

Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans 98,244 156,411
Hire purchase contracts (see note 10) - 2,689
98,244 159,100

10. LEASING AGREEMENTS

The company has non-cancellable operating lease commitments of £166,981 (2022 - £46,915)

11. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 2,142 13,298

Hire purchase liabilities are secured against the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1,565 B Ordinary £1 1,565 1,565
1,174 C Ordinary £1 1,174 1,174
1,174 D Ordinary £1 1,174 1,174
3,913 3,913

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
M D Cummins
Balance outstanding at start of year - 3,913
Amounts repaid - (3,913 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Oriel Studios Digital Ltd (Registered number: 05828610)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

A Wilson
Balance outstanding at start of year - 425
Amounts repaid - (425 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -