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Registered number: 10471166














ATOMIZED STUDIOS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2023

 
ATOMIZED STUDIOS LIMITED
 

CONTENTS



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


 
ATOMIZED STUDIOS LIMITED
REGISTERED NUMBER:10471166

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
916
4,983

Tangible fixed assets
 5 
82,916
92,768

  
83,832
97,751

Current assets
  

Debtors: amounts falling due within one year
 6 
805,139
1,215,612

Bank and cash balances
  
2,455,189
1,683,398

  
3,260,328
2,899,010

Current liabilites
  

Creditors: amounts falling due within one year
 7 
(1,228,647)
(1,309,338)

Net current assets
  
 
 
2,031,681
 
 
1,589,672

Net assets
  
2,115,513
1,687,423


Capital and reserves
  

Called up share capital 
 8 
4
4

Profit and loss account
  
2,115,509
1,687,419

  
2,115,513
1,687,423


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 24 September 2024.






Z D Rogers
Director

The notes on pages 10 to 16 form part of these financial statements.

Page 1

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

1.


General information

Atomized Studios Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 1 Stephen Street, London, W1T 1AL.
The principal activity of the Company continued to be that of content production for both broadcast media and the web.

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

Turnover

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website development
-
3 years straight line

 
2.4

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 2

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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
20% - Straight line.
Fixtures and fittings
-
25% - 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 the Statement of Comprehensive Income.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Debtors

Short term debtors are measured at the transaction price less any impairment.

 
2.9

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.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

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, and loans to related parties.

Page 3

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

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.13

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.14

Pensions

Defined contribution pension plan
The Company contributes to 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 the Statement of Comprehensive Income 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.

 
2.15

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 year was 26 (2022 - 31).

Page 4

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

4.


Intangible assets




Website development

£



Cost


At 1 January 2023
20,600



At 31 December 2023

20,600



Amortisation


At 1 January 2023
15,617


Charge for the year on owned assets
4,067



At 31 December 2023

19,684



Net book value



At 31 December 2023
916



At 31 December 2022
4,983



Page 5

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

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost 


At 1 January 2023
59,985
86,654
146,639


Additions
-
24,545
24,545



At 31 December 2023

59,985
111,199
171,184



Depreciation


At 1 January 2023
20,995
32,876
53,871


Charge for the year on owned assets
11,997
22,400
34,397



At 31 December 2023

32,992
55,276
88,268



Net book value



At 31 December 2023
26,993
55,923
82,916



At 31 December 2022
38,990
53,778
92,768


6.


Debtors

2023
2022
£
£

Trade debtors
221,868
325,445

Amounts owed by group undertakings
346,744
528,353

Other debtors
258
108

Prepayments and accrued income
236,269
361,706

805,139
1,215,612


Page 6

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
214,881
112,691

Amounts owed to group undertakings
-
20,833

Corporation tax
78,046
77,370

Other taxation and social security
123,753
147,776

Other creditors
10,947
12,387

Accruals and deferred income
801,020
938,281

1,228,647
1,309,338



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4



9.


Controlling party

Following a group restructuring effective 3 July 2023, Freud 4.0 Limited became the ultimate parent undertaking of the Company. Up to that date Freud 3.0 Limited was the ultimate parent. Freud 4.0 Limited is the parent company of the smallest and largest group for which group financial statements are drawn up. Copies of the consolidated financial statements are available from the Registrar of Companies.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 7