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REGISTERED NUMBER: 03299825 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FACTORY STUDIOS LIMITED

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FACTORY STUDIOS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: A Moore





SECRETARY: J Roddison FCA





REGISTERED OFFICE: 54-55 Margaret Street
London
W1W 8SH





REGISTERED NUMBER: 03299825 (England and Wales)





ACCOUNTANTS: Brown McLeod Limited
Chartered Accountants
The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 873,253 463,240
873,253 463,240

CURRENT ASSETS
Stocks 85,552 -
Debtors 6 2,813,348 986,618
Cash at bank 200,291 905,062
3,099,191 1,891,680
CREDITORS
Amounts falling due within one year 7 751,046 290,320
NET CURRENT ASSETS 2,348,145 1,601,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,221,398

2,064,600

CREDITORS
Amounts falling due after more than one year 8 (1,548,242 ) -

PROVISIONS FOR LIABILITIES (113,936 ) (91,782 )
NET ASSETS 1,559,220 1,972,818

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,559,020 1,972,618
1,559,220 1,972,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

BALANCE SHEET - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





A Moore - Director


FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Factory Studios Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Sound equipment - 33% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and Creditors with no stated interest rate and repayable in one year are recorded at transaction price. Any losses arising from impairment are recognised in other comprehensive income or directly in equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 28,335
AMORTISATION
At 1 July 2023
and 30 June 2024 28,335
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Sound and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 1,106,143 792,728 337,718 596,397 2,832,986
Additions 165,005 321,943 27,115 20,853 534,916
Disposals - (7,870 ) (5,930 ) (28,325 ) (42,125 )
At 30 June 2024 1,271,148 1,106,801 358,903 588,925 3,325,777
DEPRECIATION
At 1 July 2023 807,494 776,189 302,876 483,187 2,369,746
Charge for year 35,041 36,940 11,261 27,534 110,776
Eliminated on disposal - (7,393 ) (5,130 ) (15,475 ) (27,998 )
At 30 June 2024 842,535 805,736 309,007 495,246 2,452,524
NET BOOK VALUE
At 30 June 2024 428,613 301,065 49,896 93,679 873,253
At 30 June 2023 298,649 16,539 34,842 113,210 463,240

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 695,996 428,893
Other debtors 2,117,352 557,725
2,813,348 986,618

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 100,827 64,418
Taxation and social security 204,351 123,321
Other creditors 445,868 102,581
751,046 290,320

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other creditors 1,548,242 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 656,001 -

9. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Other loans 224,143 -

Amounts falling due between one and two years:
Other loans - 1-2 years 225,526 -

Amounts falling due between two and five years:
Other loans - 2-5 years 666,715 -

Amounts falling due in more than five years:

FACTORY STUDIOS LIMITED (REGISTERED NUMBER: 03299825)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

9. LOANS - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 656,001 -

Loans received from Medialease as part of a studio overhaul are presented within non-current liabilities and other creditors.

10. FINANCIAL INSTRUMENTS

Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction
price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

11. OTHER FINANCIAL COMMITMENTS

Presented within other loans is the value of the buy out shares which were held by a previous director. This is subject to the conditions set out in the contract.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Factory Family Group Ltd.

The ultimate controlling party is Factory Family Group Ltd.

100% of the shares in Factory Studios Limited were acquired by Factory Family Group Limited in the year as part of a restructure.