IRIS Accounts Production v24.1.0.576 07367196 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073671962022-09-30073671962023-09-30073671962022-10-012023-09-30073671962021-09-30073671962021-10-012022-09-30073671962022-09-3007367196ns15:EnglandWales2022-10-012023-09-3007367196ns14:PoundSterling2022-10-012023-09-3007367196ns10:Director12022-10-012023-09-3007367196ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3007367196ns10:SmallEntities2022-10-012023-09-3007367196ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3007367196ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3007367196ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3007367196ns10:FullAccounts2022-10-012023-09-3007367196ns10:Director22022-10-012023-09-3007367196ns10:RegisteredOffice2022-10-012023-09-3007367196ns5:CurrentFinancialInstruments2023-09-3007367196ns5:CurrentFinancialInstruments2022-09-3007367196ns5:Non-currentFinancialInstruments2023-09-3007367196ns5:Non-currentFinancialInstruments2022-09-3007367196ns5:ShareCapital2023-09-3007367196ns5:ShareCapital2022-09-3007367196ns5:CapitalRedemptionReserve2023-09-3007367196ns5:CapitalRedemptionReserve2022-09-3007367196ns5:RetainedEarningsAccumulatedLosses2023-09-3007367196ns5:RetainedEarningsAccumulatedLosses2022-09-3007367196ns5:PlantMachinery2022-10-012023-09-3007367196ns5:PlantMachinery2022-09-3007367196ns5:PlantMachinery2023-09-3007367196ns5:PlantMachinery2022-09-3007367196ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-09-3007367196ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-012023-09-3007367196ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-3007367196ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-09-3007367196ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3007367196ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3007367196ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3007367196ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3007367196ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-3007367196ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-09-3007367196ns5:HirePurchaseContracts2023-09-3007367196ns5:HirePurchaseContracts2022-09-3007367196ns5:Secured2023-09-3007367196ns5:Secured2022-09-30
REGISTERED NUMBER: 07367196 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2023

for

FUSE STUDIOS LIMITED

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUSE STUDIOS LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTORS: S P Clarke
M J Harris





REGISTERED OFFICE: Fountain House
3rd Floor
4 South Parade
Leeds
West Yorkshire
LS1 5QX





REGISTERED NUMBER: 07367196 (England and Wales)





ACCOUNTANTS: BK Plus Limited
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,325 22,273

CURRENT ASSETS
Debtors 5 235,524 492,036
Cash at bank and in hand 48,259 64,599
283,783 556,635
CREDITORS
Amounts falling due within one year 6 176,809 260,489
NET CURRENT ASSETS 106,974 296,146
TOTAL ASSETS LESS CURRENT LIABILITIES 126,299 318,419

CREDITORS
Amounts falling due after more than one
year

7

(37,184

)

(51,931

)

PROVISIONS FOR LIABILITIES (4,831 ) (4,232 )
NET ASSETS 84,284 262,256

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 20,000 20,000
Retained earnings 64,084 242,056
SHAREHOLDERS' FUNDS 84,284 262,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:





M J Harris - Director


FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Fuse Studios Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 194,171
Additions 3,078
At 30 September 2023 197,249
DEPRECIATION
At 1 October 2022 171,898
Charge for year 6,026
At 30 September 2023 177,924
NET BOOK VALUE
At 30 September 2023 19,325
At 30 September 2022 22,273

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 39,949
DEPRECIATION
At 1 October 2022 19,495
Charge for year 4,091
At 30 September 2023 23,586
NET BOOK VALUE
At 30 September 2023 16,363
At 30 September 2022 20,454

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 213,020 244,299
Other debtors 22,504 247,737
235,524 492,036

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 11,835 11,516
Hire purchase contracts (see note 8) 5,038 5,038
Trade creditors 39,163 119,330
Taxation and social security 105,573 107,391
Other creditors 15,200 17,214
176,809 260,489

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 22,364 32,073
Hire purchase contracts (see note 8) 14,820 19,858
37,184 51,931

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 5,038 5,038
Between one and five years 14,820 19,858
19,858 24,896

At the year end the company had total commitments under operating leases of £8,004, all expiring within one year.

FUSE STUDIOS LIMITED (REGISTERED NUMBER: 07367196)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdrafts 1,835 1,516
Hire purchase contracts 19,858 24,896
21,693 26,412

10. CONTROLLING PARENT COMPANY

The company is controlled by Fuse Studios (Holdings) Ltd, a company registered in England and Wales, which owns all the shares in Fuse Studios Ltd.