Studious (Brighton) Limited
Unaudited Financial Statements
For the year ended 29 February 2024
Pages for Filing with Registrar
Company Registration No. 12356037 (England and Wales)
Studious (Brighton) Limited
Company Information
Director
J Rixson
Company number
12356037
Registered office
6th Floor Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Studious (Brighton) Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Studious (Brighton) Limited
Balance Sheet
As at 29 February 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
8,061,418
8,063,363
Cash at bank and in hand
2,677
81,564
8,064,095
8,144,927
Creditors: amounts falling due within one year
4
(207,794)
(248,778)
Net current assets
7,856,301
7,896,149
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
7,856,201
7,896,049
Total equity
7,856,301
7,896,149

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
J Rixson
Director
Company Registration No. 12356037
Studious (Brighton) Limited
Statement of Changes in Equity
For the year ended 29 February 2024
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 March 2022
100
240,655
240,755
Year ended 28 February 2023:
Profit and total comprehensive income for the year
-
7,655,394
7,655,394
Balance at 28 February 2023
100
7,896,049
7,896,149
Year ended 29 February 2024:
Loss and total comprehensive income for the year
-
(39,848)
(39,848)
Balance at 29 February 2024
100
7,856,201
7,856,301
Studious (Brighton) Limited
Notes to the Financial Statements
For the year ended 29 February 2024
Page 3
1
Accounting policies
Company information

Studious (Brighton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue to trade in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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 trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Cash at bank and in hand

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 current liabilities.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Studious (Brighton) Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
Page 4
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
7,905,246
7,905,246
Other debtors
156,172
158,117
8,061,418
8,063,363
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
856
8,682
Amounts owed to group undertakings
10,000
59,423
Corporation tax
26,500
12,235
Accruals and deferred income
170,438
168,438
207,794
248,778
Studious (Brighton) Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
Page 5
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
6
Parent company

The immediate and ultimate parent company is Celeres Investments Limited, a company incorporated in Hong Kong.

 

There is no ultimate controlling party.

7
Related party transactions

Studious (Brighton) Limited has taken the exemption to disclose related party transactions under the same 100% control in accordance with FRS102 - Section 33 "Related Party Disclosures" paragraph 33.1A.

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