CANALSIDE STUDIO MANAGEMENT LIMITED

Company Registration Number:
02167420 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

CANALSIDE STUDIO MANAGEMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

CANALSIDE STUDIO MANAGEMENT LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Investments: 3 68,650 68,650
Total fixed assets: 68,650 68,650
Current assets
Debtors:   1,502 1,502
Cash at bank and in hand: 37,169 41,166
Total current assets: 38,671 42,668
Creditors: amounts falling due within one year:   (51,508) (43,508)
Net current assets (liabilities): (12,837) (840)
Total assets less current liabilities: 55,813 67,810
Total net assets (liabilities): 55,813 67,810
Capital and reserves
Called up share capital: 50,000 50,000
Profit and loss account: 5,813 17,810
Shareholders funds: 55,813 67,810

The notes form part of these financial statements

CANALSIDE STUDIO MANAGEMENT LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 February 2024
and signed on behalf of the board by:

Name: R Silk
Status: Director

The notes form part of these financial statements

CANALSIDE STUDIO MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Valuation and information policy

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss

Other accounting policies

Cash at bank and in handCash and cash equivalents are basic financial assets 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.Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.Retirement benefitsPayments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CANALSIDE STUDIO MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

CANALSIDE STUDIO MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Fixed investments

Fair value of investment property £68,650 (2022 £68,650).The fair value of the investment property has been arrived at by the director on an open market basis.