Company registration number 04333989 (England and Wales)
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
113,290
-
0
Investments
6
-
0
1,836,300
113,290
1,836,300
Current assets
Debtors
7
3,663,411
-
0
Cash at bank and in hand
136,227
48,875
3,799,638
48,875
Creditors: amounts falling due within one year
8
(1,510,516)
(41,872)
Net current assets
2,289,122
7,003
Total assets less current liabilities
2,402,412
1,843,303
Creditors: amounts falling due after more than one year
9
563
-
0
Net assets
2,402,975
1,843,303
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
2,401,975
1,842,303
Total equity
2,402,975
1,843,303

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

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 January 2025 and are signed on its behalf by:
A Camp
Director
Company Registration No. 04333989
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

ACA Studios Limited is a private company limited by shares incorporated in England and Wales. The registered office is , 88 Union Street, London, United Kingdom, SE1 0NW.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

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

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.

Revenue from 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 costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. 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.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
10 years straight line
Fixtures, fittings & equipment
5 years straight line
Computer equipment
3 years straight line

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.

1.6
Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Financial instruments

The company only has financial instruments that are classified as basic financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

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.

ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group partnerships are initially recognised at transaction price and subsequently measured at amortised cost.

Derecognition of financial liabilities

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

1.9
Equity instruments

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

1.10
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

 

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

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

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
46
2
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
155,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
155,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
-
0
-
0
-
0
Additions
32,478
110,948
143,426
At 30 April 2024
32,478
110,948
143,426
Depreciation and impairment
At 1 May 2023
-
0
-
0
-
0
Depreciation charged in the year
6,750
23,386
30,136
At 30 April 2024
6,750
23,386
30,136
Carrying amount
At 30 April 2024
25,728
87,562
113,290
At 30 April 2023
-
0
-
0
-
0
6
Fixed asset investments
2024
2023
£
£
Investments
-
1,836,300

Fixed asset investments are stated at cost less provision for diminution in value.

Movements in fixed asset investments
Partnership capital
£
Cost
At 1 May 2023
1,836,300
Disposals
(1,836,300)
At 30 April 2024
-
Carrying amount
At 30 April 2024
-
At 30 April 2023
1,836,300
ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,627,324
-
0
Corporation tax recoverable
269,857
-
0
Other debtors
1,766,230
-
0
3,663,411
-
0
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
39,285
-
0
Corporation tax
448,019
38,544
Other taxation and social security
335,171
-
0
Other creditors
688,041
3,328
1,510,516
41,872
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
(563)
-
0
10
Financial commitments, guarantees and contingent liabilities

There have been a number of allegations been made by former clients in relation to fire safety of historic projects that have come to light following Grenfell Tower tragedy. None of these allegations have, as yet, led to any legal action but there may be litigation in the future that may not be covered by the practice’s PI Insurance however the company believes that they complied with the guidance set at the time and that any legal claim against the company would not result in any liability.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
198,000
-
0
12
Directors' transactions

Included in the debtors at the year end is an amount owed to the company by a director of £799,576. Interest was charged at the official rate. This was the maximum amount outstanding during the year.

ACA STUDIOS LIMITED
(FORMERLY KNOWN AS ALAN CAMP ARCHITECTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
13
Parent company

The ultimate controlling party is the director A Camp by virtue of his shareholding.

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