Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity33truetrue 11615295 2022-04-01 2023-03-31 11615295 2021-04-01 2022-03-31 11615295 2023-03-31 11615295 2022-03-31 11615295 c:Director1 2022-04-01 2023-03-31 11615295 c:Director2 2022-04-01 2023-03-31 11615295 c:Director3 2022-04-01 2023-03-31 11615295 d:OfficeEquipment 2022-04-01 2023-03-31 11615295 d:OfficeEquipment 2023-03-31 11615295 d:OfficeEquipment 2022-03-31 11615295 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11615295 d:CurrentFinancialInstruments 2023-03-31 11615295 d:CurrentFinancialInstruments 2022-03-31 11615295 d:Non-currentFinancialInstruments 2023-03-31 11615295 d:Non-currentFinancialInstruments 2022-03-31 11615295 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11615295 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11615295 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11615295 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11615295 d:ShareCapital 2023-03-31 11615295 d:ShareCapital 2022-03-31 11615295 d:RetainedEarningsAccumulatedLosses 2023-03-31 11615295 d:RetainedEarningsAccumulatedLosses 2022-03-31 11615295 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11615295 c:OrdinaryShareClass1 2023-03-31 11615295 c:OrdinaryShareClass1 2022-03-31 11615295 c:FRS102 2022-04-01 2023-03-31 11615295 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11615295 c:FullAccounts 2022-04-01 2023-03-31 11615295 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11615295 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11615295









CABIN STUDIO HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CABIN STUDIO HOLDINGS LIMITED
REGISTERED NUMBER: 11615295

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,126
1,973

Investments
 5 
100
100

  
1,226
2,073

Current assets
  

Debtors: amounts falling due within one year
 6 
440,313
441,051

Cash at bank and in hand
 7 
2,469
8,872

  
442,782
449,923

Creditors: amounts falling due within one year
 8 
(37,453)
(29,515)

Net current assets
  
 
 
405,329
 
 
420,408

Total assets less current liabilities
  
406,555
422,481

Creditors: amounts falling due after more than one year
 9 
(585,440)
(571,588)

  

Net liabilities
  
(178,885)
(149,107)


Capital and reserves
  

Called up share capital 
 10 
101
101

Profit and loss account
  
(178,986)
(149,208)

  
(178,885)
(149,107)


Page 1

 
CABIN STUDIO HOLDINGS LIMITED
REGISTERED NUMBER: 11615295
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 on 18 December 2023.




Jonathan Gent
Steve Mayne
Director
Director



Russell Potter
Director




The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Cabin Studio Holdings Limited is a company limited by shares incorporated in England and Wales (company number: 11615295). Its registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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 financial statements have been prepared on the going concern basis. The company is
dependent on the shareholders for financial support. As at 31 March 2023, the shareholders have
confirmed that they will provide adequate finance to enable the company to continue in operational
existence. Therefore, the directors consider it appropriate to prepare the financial statements on the
going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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

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 straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Straight Line

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

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.

Page 4

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
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 3 (2022 - 3).

Page 5

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
3,393



At 31 March 2023

3,393



Depreciation


At 1 April 2022
1,419


Charge for the year on owned assets
848



At 31 March 2023

2,267



Net book value



At 31 March 2023
1,126



At 31 March 2022
1,973


5.


Fixed asset investments





Investments in subsidiary company

£



Cost or valuation


At 1 April 2022
100



At 31 March 2023
100




Page 6

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
1,192

Amounts owed by group undertakings
294,840
293,182

Amounts owed by associates
145,473
145,473

Other debtors
-
1,204

440,313
441,051



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,469
8,872

2,469
8,872



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,152
10,524

Other taxation and social security
11,740
13,439

Other creditors
10,211
202

Accruals and deferred income
5,350
5,350

37,453
29,515



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
45,013
50,641

Other creditors
540,427
520,947

585,440
571,588


Page 7

 
CABIN STUDIO HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



101 (2022 - 101) Ordinary shares of £1.00 each
101
101



11.


Related party transactions

Fee income of £75,000 (2022: £77,000) was receivable from Sessions Arts Club Limited, a company related to the directors.
Included in creditors due after one year is £540,427 (2022: £520,947) owed to S Mayne, a director of the company.

 
Page 8