Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Emma Lynn 12/12/2023 Seth Rutt Nicola Rutt 15 November 2024 The principal activity of the Company during the financial year was architectural activities, urban planning and landscape architectural activities. 13376832 2024-03-31 13376832 bus:Director1 2024-03-31 13376832 2023-03-31 13376832 core:CurrentFinancialInstruments 2024-03-31 13376832 core:CurrentFinancialInstruments 2023-03-31 13376832 core:ShareCapital 2024-03-31 13376832 core:ShareCapital 2023-03-31 13376832 core:RetainedEarningsAccumulatedLosses 2024-03-31 13376832 core:RetainedEarningsAccumulatedLosses 2023-03-31 13376832 core:OtherResidualIntangibleAssets 2023-03-31 13376832 core:OtherResidualIntangibleAssets 2024-03-31 13376832 core:OtherPropertyPlantEquipment 2023-03-31 13376832 core:OtherPropertyPlantEquipment 2024-03-31 13376832 2023-04-01 2024-03-31 13376832 bus:FilletedAccounts 2023-04-01 2024-03-31 13376832 bus:SmallEntities 2023-04-01 2024-03-31 13376832 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13376832 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13376832 bus:Director1 2023-04-01 2024-03-31 13376832 bus:Director2 2023-04-01 2024-03-31 13376832 bus:Director3 2023-04-01 2024-03-31 13376832 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 13376832 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 13376832 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 13376832 2022-04-01 2023-03-31 13376832 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 13376832 (England and Wales)

STUDIO MULTI LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

STUDIO MULTI LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

STUDIO MULTI LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
STUDIO MULTI LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Emma Lynn (Resigned 12 December 2023)
Seth Rutt
Nicola Rutt
REGISTERED OFFICE Rh.113 The Record Hall
16a Baldwin's Gardens
London
EC1N 7RJ
United Kingdom
COMPANY NUMBER 13376832 (England and Wales)
CHARTERED ACCOUNTANTS Mercer & Hole LLP
Trinity Court
Church Street
Rickmansworth
Hertfordshire
WD3 1RT
STUDIO MULTI LTD

BALANCE SHEET

As at 31 March 2024
STUDIO MULTI LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 22,713 25,655
Tangible assets 4 23,664 31,486
46,377 57,141
Current assets
Debtors 5 131,562 89,834
Cash at bank and in hand 12,631 52,794
144,193 142,628
Creditors: amounts falling due within one year 6 ( 226,567) ( 125,441)
Net current (liabilities)/assets (82,374) 17,187
Total assets less current liabilities (35,997) 74,328
Provision for liabilities 0 ( 7,342)
Net (liabilities)/assets ( 35,997) 66,986
Capital and reserves
Called-up share capital 130 125
Profit and loss account ( 36,127 ) 66,861
Total shareholders' (deficit)/funds ( 35,997) 66,986

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Studio Multi Ltd (registered number: 13376832) were approved and authorised for issue by the Board of Directors on 15 November 2024. They were signed on its behalf by:

Seth Rutt
Director
STUDIO MULTI LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
STUDIO MULTI LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Studio Multi Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in . The address of the Company's registered office is Rh.120 The Record Hall, 16-16a Baldwin's Gardens, London, EC1N 7RJ.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any applicable discounts or rebates.

Turnover from the contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing hourly staff time incurred as a proportion of expected total staff time. Where disbursements have been incurred and not yet invoiced to the customer, turnover is accrued accordingly. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Other 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 8

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 29,422 29,422
At 31 March 2024 29,422 29,422
Accumulated amortisation
At 01 April 2023 3,767 3,767
Charge for the financial year 2,942 2,942
At 31 March 2024 6,709 6,709
Net book value
At 31 March 2024 22,713 22,713
At 31 March 2023 25,655 25,655

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 39,108 39,108
At 31 March 2024 39,108 39,108
Accumulated depreciation
At 01 April 2023 7,622 7,622
Charge for the financial year 7,822 7,822
At 31 March 2024 15,444 15,444
Net book value
At 31 March 2024 23,664 23,664
At 31 March 2023 31,486 31,486

5. Debtors

2024 2023
£ £
Trade debtors 41,100 51,062
Prepayments and accrued income 69,173 12,899
Corporation tax 8,434 0
Other debtors 12,855 25,873
131,562 89,834

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,871 10,669
Corporation tax 0 8,434
Other taxation and social security 5,921 13,542
Other creditors 214,775 92,796
226,567 125,441

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 74,822 109,887

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed at the reporting date 210,518 87,247

Amounts loaned to the Company by the directors are not subject to any formal terms, and as such are considered to be both interest-free and repayable on demand.