Company Registration No. 11798784 (England and Wales)
House Share Studios Limited
Unaudited accounts
for the year ended 31 January 2024
House Share Studios Limited
Unaudited accounts
Contents
House Share Studios Limited
Company Information
for the year ended 31 January 2024
Directors
Diane Greenwood
Zena Jackson
Company Number
11798784 (England and Wales)
Registered Office
UNIT 409 STREET 7
THORP ARCH ESTATE
WETHERBY
LS23 7FG
UNITED KINGDOM
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
House Share Studios Limited
Accountants' report
Accountants' report to the board of directors of House Share Studios Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
House Share Studios Limited for the year ended
31 January 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of House Share Studios Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of House Share Studios Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than House Share Studios Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that House Share Studios Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of House Share Studios Limited. You consider that House Share Studios Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of House Share Studios Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
24 September 2024
House Share Studios Limited
Statement of financial position
as at 31 January 2024
Investment property
373,649
373,649
Cash at bank and in hand
2,935
1,987
Creditors: amounts falling due within one year
(72,255)
(85,993)
Net current liabilities
(69,318)
(84,004)
Total assets less current liabilities
304,569
291,549
Creditors: amounts falling due after more than one year
(226,608)
(231,359)
Called up share capital
4
4
Revaluation reserve
76,182
76,182
Profit and loss account
1,775
(15,996)
Shareholders' funds
77,961
60,190
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
Diane Greenwood
Director
Company Registration No. 11798784
House Share Studios Limited
Notes to the Accounts
for the year ended 31 January 2024
House Share Studios Limited is a private company, limited by shares, registered in England and Wales, registration number 11798784. The registered office is UNIT 409 STREET 7, THORP ARCH ESTATE, WETHERBY, LS23 7FG, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Computer equipment
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
House Share Studios Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
4,050
949
4,999
At 31 January 2024
4,050
949
4,999
At 1 February 2023
2,700
395
3,095
Charge for the year
1,350
316
1,666
At 31 January 2024
4,050
711
4,761
At 31 January 2024
-
238
238
At 31 January 2023
1,350
554
1,904
Fair value at 1 February 2023
373,649
At 31 January 2024
373,649
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
760
-
Other creditors
2,000
2,000
Loans from directors
68,595
83,093
House Share Studios Limited
Notes to the Accounts
for the year ended 31 January 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
202,312
204,606
Other creditors
24,296
26,753
Aggregate of amounts that fall due for payment after five years
191,250
204,607
In 2020, the company received Bounce Back Loans of £15,500, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
9
Transactions with related parties
Included in long term creditors are interest-free loans of £24,297 (2023 - £26,753) from related companies.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).