Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00850927 2023-01-01 2023-12-31 00850927 2022-01-01 2022-12-31 00850927 2023-12-31 00850927 2022-12-31 00850927 c:Director1 2023-01-01 2023-12-31 00850927 c:Director2 2023-01-01 2023-12-31 00850927 d:MotorVehicles 2023-01-01 2023-12-31 00850927 d:MotorVehicles 2023-12-31 00850927 d:MotorVehicles 2022-12-31 00850927 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00850927 d:FurnitureFittings 2023-01-01 2023-12-31 00850927 d:FurnitureFittings 2023-12-31 00850927 d:FurnitureFittings 2022-12-31 00850927 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00850927 d:ComputerEquipment 2023-01-01 2023-12-31 00850927 d:ComputerEquipment 2023-12-31 00850927 d:ComputerEquipment 2022-12-31 00850927 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00850927 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00850927 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00850927 d:CurrentFinancialInstruments 2023-12-31 00850927 d:CurrentFinancialInstruments 2022-12-31 00850927 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00850927 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00850927 d:ShareCapital 2023-12-31 00850927 d:ShareCapital 2022-12-31 00850927 d:RetainedEarningsAccumulatedLosses 2023-12-31 00850927 d:RetainedEarningsAccumulatedLosses 2022-12-31 00850927 c:FRS102 2023-01-01 2023-12-31 00850927 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00850927 c:FullAccounts 2023-01-01 2023-12-31 00850927 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00850927 2 2023-01-01 2023-12-31 00850927 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00850927









TIMBER STREET STUDIOS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TIMBER STREET STUDIOS LIMITED
REGISTERED NUMBER: 00850927

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,430
29,691

Investments
 5 
2
2

  
23,432
29,693

Current assets
  

Stocks
  
69,300
69,300

Debtors: amounts falling due within one year
 6 
41,931
106,055

Cash at bank and in hand
 7 
3,972,820
3,721,490

  
4,084,051
3,896,845

Creditors: amounts falling due within one year
 8 
(62,276)
(23,870)

Net current assets
  
 
 
4,021,775
 
 
3,872,975

Total assets less current liabilities
  
4,045,207
3,902,668

  

Net assets
  
4,045,207
3,902,668


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,045,107
3,902,568

  
4,045,207
3,902,668


Page 1

 
TIMBER STREET STUDIOS LIMITED
REGISTERED NUMBER: 00850927
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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: 




................................................
J Napier
................................................
C Napier
Director
Director


Date: 3 October 2024
Date:3 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

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

1.


General information

Timber Street Studios Limited  is a private company limited by shares. The company is incorporated in the United Kingdom and its registered office adress is Aston House, Cornwall Avenue, London, N3 1LF. The company registration number is 00850927. 

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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 when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

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

 
2.5

Taxation

Tax is recognised in the Profit and loss account, 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

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

2.Accounting policies (continued)

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method .

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
33%
straight line
Other fixed assets
-
25%
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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

Page 4

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

2.Accounting policies (continued)

 
2.11

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.


3.


Employees

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


4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
36,258
15,783
56,017
108,058


Additions
-
-
1,511
1,511



At 31 December 2023

36,258
15,783
57,528
109,569



Depreciation


At 1 January 2023
18,345
15,783
44,240
78,368


Charge for the year on owned assets
4,478
-
3,293
7,771



At 31 December 2023

22,823
15,783
47,533
86,139



Net book value



At 31 December 2023
13,435
-
9,995
23,430



At 31 December 2022
17,914
-
11,777
29,691

Page 5

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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2



At 31 December 2023
2





6.


Debtors

2023
2022
£
£


Trade debtors
-
43,063

Other debtors
41,931
62,992

41,931
106,055



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,972,820
3,721,490



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
43,776
11,809

Other taxation and social security
13,230
6,791

Accruals and deferred income
5,270
5,270

62,276
23,870


Page 6