Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122023-01-01falseThe hire of studio and film editing facilities3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02910661 2023-01-01 2023-12-31 02910661 2022-01-01 2022-12-31 02910661 2023-12-31 02910661 2022-12-31 02910661 c:CompanySecretary1 2023-01-01 2023-12-31 02910661 c:Director1 2023-01-01 2023-12-31 02910661 c:RegisteredOffice 2023-01-01 2023-12-31 02910661 d:PlantMachinery 2023-01-01 2023-12-31 02910661 d:PlantMachinery 2023-12-31 02910661 d:PlantMachinery 2022-12-31 02910661 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02910661 d:FurnitureFittings 2023-01-01 2023-12-31 02910661 d:FurnitureFittings 2023-12-31 02910661 d:FurnitureFittings 2022-12-31 02910661 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02910661 d:ComputerEquipment 2023-01-01 2023-12-31 02910661 d:ComputerEquipment 2023-12-31 02910661 d:ComputerEquipment 2022-12-31 02910661 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02910661 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02910661 d:CurrentFinancialInstruments 2023-12-31 02910661 d:CurrentFinancialInstruments 2022-12-31 02910661 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02910661 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02910661 d:ShareCapital 2023-12-31 02910661 d:ShareCapital 2022-12-31 02910661 d:RetainedEarningsAccumulatedLosses 2023-12-31 02910661 d:RetainedEarningsAccumulatedLosses 2022-12-31 02910661 c:FRS102 2023-01-01 2023-12-31 02910661 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02910661 c:FullAccounts 2023-01-01 2023-12-31 02910661 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02910661 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 02910661














BROADLEY STUDIOS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
BROADLEY STUDIOS LIMITED
 
 
COMPANY INFORMATION


Director
E Elias 




Company secretary
J Elias



Registered number
02910661



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

United Kingdom

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
BROADLEY STUDIOS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
BROADLEY STUDIOS LIMITED
REGISTERED NUMBER:02910661

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,731
2,458

  
1,731
2,458

Current assets
  

Debtors: amounts falling due within one year
 5 
121,210
253,015

Cash at bank and in hand
  
194,202
125,774

  
315,412
378,789

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(671,603)
(832,990)

Net current liabilities
  
 
 
(356,191)
 
 
(454,201)

Total assets less current liabilities
  
(354,460)
(451,743)

Provisions for liabilities
  

Deferred tax
  
(433)
(615)

  
 
 
(433)
 
 
(615)

Net liabilities
  
(354,893)
(452,358)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(354,993)
(452,458)

  
(354,893)
(452,358)


Page 1

 
BROADLEY STUDIOS LIMITED
REGISTERED NUMBER:02910661
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 by: 




E Elias
Director

Date: 17 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BROADLEY STUDIOS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Broadley Studios Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD.
The principal activity of the company continued to be that of the hire of studio and film editing facilities.
The company's functional and presentational currency is £ Sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, as the director is of the opinion that the other companies in the group will provide financial support, for a period of at least twelve months from the approval date of these accounts.

 
2.3

Turnover

Turnover represents music recording and management fees, excluding value added tax. Music recording and management fee income is recognised at the point of sale by reference to the calendar period.

 
2.4

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.

Page 3

 
BROADLEY STUDIOS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on reducing balance
Fixtures and fittings
-
25%
on reducing balance
Computer equipment
-
33%
on reducing balance

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.

Page 4

 
BROADLEY STUDIOS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

Page 5

 
BROADLEY STUDIOS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
143,661
81,451
16,165
241,277



At 31 December 2023

143,661
81,451
16,165
241,277



Depreciation


At 1 January 2023
143,262
80,806
14,751
238,819


Charge for the year on owned assets
100
161
466
727



At 31 December 2023

143,362
80,967
15,217
239,546



Net book value



At 31 December 2023
299
484
948
1,731



At 31 December 2022
399
645
1,414
2,458


5.


Debtors

2023
2022
£
£


Trade debtors
41,400
46,656

Amounts owed by group undertakings
-
142,179

Amounts owed by related parties
69,860
54,260

Prepayments and accrued income
9,950
9,920

121,210
253,015


Page 6

 
BROADLEY STUDIOS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
22,363
20

Amounts owed to group undertakings
448,156
628,889

Amounts owed to related parties
143,379
143,379

Corporation tax
30,813
26,901

Other taxation and social security
1,640
-

Other creditors
22,250
22,250

Accruals and deferred income
3,002
11,551

671,603
832,990



7.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Amounts owed to and from related parties are interest free loans, repayable on demand from and to companies in which the Director has a material interest.


8.


Controlling party

The immediate and ultimate parent undertaking and ultimate controlling party is The Broadley Entertainment Group Limited, incorporated in England and Wales.

 
Page 7