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Registration number: 10644297

OKAY Studios Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

OKAY Studios Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

OKAY Studios Ltd

Company Information

Directors

S J Akram-Haythornthwaite

S S Alkalay

T A Alonso

M Hahn

A Haythornthwaite

A Hunting

P J Marigold

Y Mer

T Mukai

O M Narud

L Ovalle Piedra

E C Steidl

Registered office

11 South End Road
Hampstead
London
NW3 2PT

Accountants

Sable & Argent Limited
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

OKAY Studios Ltd

(Registration number: 10644297)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

1,123

Current assets

 

Debtors

5

728

3,207

Cash at bank and in hand

 

21,734

12,284

 

22,462

15,491

Creditors: Amounts falling due within one year

6

(16,635)

(13,068)

Net current assets

 

5,827

2,423

Net assets

 

5,827

3,546

Capital and reserves

 

Called up share capital

7

120

120

Retained earnings

5,707

3,426

Shareholders' funds

 

5,827

3,546

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

OKAY Studios Ltd

(Registration number: 10644297)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

S J Akram-Haythornthwaite
Director

M Hahn
Director

P J Marigold
Director

O M Narud
Director

S S Alkalay
Director

A Haythornthwaite
Director

Y Mer
Director

L Ovalle Piedra
Director

T A Alonso
Director

A Hunting
Director

T Mukai
Director

E C Steidl
Director

     
 

OKAY Studios Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
11 South End Road
Hampstead
London
NW3 2PT

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

OKAY Studios Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Asset class

Depreciation method and rate

Lease

Straight line over four years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants in respect of rents charged for the period but unpaid at the year end. Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons (including directors) employed by the company in the year, was 12 (2022: 12).

 

OKAY Studios Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Short leasehold interest
£

Total
£

Cost or valuation

At 1 January 2023

5,990

5,990

At 31 December 2023

5,990

5,990

Depreciation

At 1 January 2023

4,867

4,867

Charge for the year

1,123

1,123

At 31 December 2023

5,990

5,990

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

1,123

1,123

Included within the net book value of land and buildings above is £Nil (2022: £1,123) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

728

3,207

 

728

3,207

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

744

1,568

Other creditors

15,891

11,500

16,635

13,068

 

OKAY Studios Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

120

120

120

120