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REGISTERED NUMBER: 06179889 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

ONHOLD STUDIO CONNECT LTD

ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ONHOLD STUDIO CONNECT LTD

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R S Mason
Mr T Roberts
Mr R A Mason





SECRETARY: Mr R S Mason





REGISTERED OFFICE: Units 56 - 60
Woodside Business Park
Shore Road
Birkenhead
Merseyside
CH41 1EL





REGISTERED NUMBER: 06179889 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,021 28,203
Investments 5 150 150
40,171 28,353

CURRENT ASSETS
Debtors 6 57,450 44,691
Cash at bank 86,132 121,380
143,582 166,071
CREDITORS
Amounts falling due within one year 7 120,223 121,685
NET CURRENT ASSETS 23,359 44,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,530

72,739

CREDITORS
Amounts falling due after more than one
year

8

(24,099

)

(33,492

)

PROVISIONS FOR LIABILITIES (38,427 ) (38,427 )
NET ASSETS 1,004 820

CAPITAL AND RESERVES
Called up share capital 10 52 52
Capital redemption reserve 11 48 48
Retained earnings 11 904 720
SHAREHOLDERS' FUNDS 1,004 820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:



Mr R S Mason - Director


ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Onhold Studio Connect Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

No depreciation is charged in the year of acquisition.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Onhold Studio Connect Ltd owns 33% of the issued shares in Excel Connect Solutions Ltd.

Onhold Studio Connect Ltd also owns 100% of the issued shares in Onhold Studio Ltd.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 8 (2023 - 9 ) .

ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 4,284 93,448 97,732
Additions - 26,635 26,635
Disposals - (19,089 ) (19,089 )
At 31 March 2024 4,284 100,994 105,278
DEPRECIATION
At 1 April 2023 2,142 67,387 69,529
Charge for year 429 3,650 4,079
Eliminated on disposal - (8,351 ) (8,351 )
At 31 March 2024 2,571 62,686 65,257
NET BOOK VALUE
At 31 March 2024 1,713 38,308 40,021
At 31 March 2023 2,142 26,061 28,203

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 27,884
Additions 25,884
Disposals (19,089 )
At 31 March 2024 34,679
DEPRECIATION
At 1 April 2023 12,199
Charge for year 1,237
Eliminated on disposal (8,351 )
At 31 March 2024 5,085
NET BOOK VALUE
At 31 March 2024 29,594
At 31 March 2023 15,685

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 150
NET BOOK VALUE
At 31 March 2024 150
At 31 March 2023 150

ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 19,736 9,689
Other debtors 37,714 35,002
57,450 44,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,648 10,217
Hire purchase contracts 11,126 5,159
Trade creditors 3,176 1,980
Taxation and social security 42,079 53,451
Other creditors 53,194 50,878
120,223 121,685

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,627 22,988
Hire purchase contracts 11,472 10,504
24,099 33,492

9. SECURED DEBTS

The hire purchase creditor is secured on the individual asset concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
52 Ordinary £1 52 52
48 Ordinary £1 - -
52 52

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 720 48 768
Profit for the year 24,184 24,184
Dividends (24,000 ) (24,000 )
At 31 March 2024 904 48 952

ONHOLD STUDIO CONNECT LTD (REGISTERED NUMBER: 06179889)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr R A Mason
Balance outstanding at start of year - -
Amounts advanced - 634
Amounts repaid - (634 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr R S Mason
Balance outstanding at start of year 6,578 (368 )
Amounts advanced 54,693 65,399
Amounts repaid (42,711 ) (58,453 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,560 6,578

13. RELATED PARTY DISCLOSURES

During the year the company paid dividends of £24,000 (2023: £49,750) to Mr R S Mason (including family interests) and £NIL to Mr R A Mason (2023 - 603)