Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-08-01falseWholesale of clothing & footware65truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05404170 2022-08-01 2023-05-31 05404170 2021-08-01 2022-07-31 05404170 2023-05-31 05404170 2022-07-31 05404170 c:Director3 2022-08-01 2023-05-31 05404170 c:Director4 2022-08-01 2023-05-31 05404170 d:PlantMachinery 2022-08-01 2023-05-31 05404170 d:PlantMachinery 2023-05-31 05404170 d:PlantMachinery 2022-07-31 05404170 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-05-31 05404170 d:FurnitureFittings 2022-08-01 2023-05-31 05404170 d:FurnitureFittings 2023-05-31 05404170 d:FurnitureFittings 2022-07-31 05404170 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-05-31 05404170 d:OwnedOrFreeholdAssets 2022-08-01 2023-05-31 05404170 d:CurrentFinancialInstruments 2023-05-31 05404170 d:CurrentFinancialInstruments 2022-07-31 05404170 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05404170 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05404170 d:ShareCapital 2023-05-31 05404170 d:ShareCapital 2022-07-31 05404170 d:CapitalRedemptionReserve 2023-05-31 05404170 d:CapitalRedemptionReserve 2022-07-31 05404170 d:RetainedEarningsAccumulatedLosses 2023-05-31 05404170 d:RetainedEarningsAccumulatedLosses 2022-07-31 05404170 c:FRS102 2022-08-01 2023-05-31 05404170 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-05-31 05404170 c:FullAccounts 2022-08-01 2023-05-31 05404170 c:PrivateLimitedCompanyLtd 2022-08-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 05404170









CHILTERN STREET STUDIO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
CHILTERN STREET STUDIO LIMITED
REGISTERED NUMBER: 05404170

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

31 May
31 July
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,984
3,015

  
2,984
3,015

Current assets
  

Stocks
 5 
-
6,770

Debtors: amounts falling due within one year
 6 
683,851
978,835

Cash at bank and in hand
 7 
579,857
463,553

  
1,263,708
1,449,158

Creditors: amounts falling due within one year
 8 
(273,952)
(514,949)

Net current assets
  
 
 
989,756
 
 
934,209

Total assets less current liabilities
  
992,740
937,224

  

Net assets
  
992,740
937,224


Capital and reserves
  

Called up share capital 
  
50
50

Capital redemption reserve
  
150
150

Profit and loss account
  
992,540
937,024

  
992,740
937,224


Page 1

 
CHILTERN STREET STUDIO LIMITED
REGISTERED NUMBER: 05404170
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 Period 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 15 February 2024.




J Wilson
D S Tavernier
Director
Director

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

Page 2

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Chiltern Street Studios Limited is a private company limited by shares and incorporated in England & wales. Its registered office is 101 New Cavendish Street, 1st Floor South, London, England, 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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 3

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Plant and machinery
-
33% straight line
Fixtures and fittings
-
33% 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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 August 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.9

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.

 
2.10

Taxation

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.


3.


Employees

The average monthly number of employees, including directors, during the Period was 6 (2022 - 5).

Page 5

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 August 2022
47,988
374
48,362


Additions
1,792
-
1,792



At 31 May 2023

49,780
374
50,154



Depreciation


At 1 August 2022
44,973
374
45,347


Charge for the Period on owned assets
1,823
-
1,823



At 31 May 2023

46,796
374
47,170



Net book value



At 31 May 2023
2,984
-
2,984



At 31 July 2022
3,015
-
3,015

Page 6

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Stocks

31 May
31 July
2023
2022
£
£

Finished goods and goods for resale
-
6,770

-
6,770



6.


Debtors

31 May
31 July
2023
2022
£
£


Trade debtors
659,105
904,382

Other debtors
-
30,989

Prepayments and accrued income
24,746
43,464

683,851
978,835



7.


Cash and cash equivalents

31 May
31 July
2023
2022
£
£

Cash at bank and in hand
579,857
463,553

579,857
463,553


Page 7

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

8.


Creditors: Amounts falling due within one year

31 May
31 July
2023
2022
£
£

Trade creditors
45,485
287,003

Corporation tax
41,028
57,769

Other taxation and social security
38,531
2,336

Other creditors
101,639
150,202

Accruals and deferred income
47,269
17,639

273,952
514,949



9.


Pension commitments

The company operates a defined contributions pension scheme for its directors. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £122,293 (2022 - £82,979).

 
Page 8