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REGISTERED NUMBER: 07348671 (England and Wales)



















FABLED STUDIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FABLED STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr S M Saunders
Mr T P S Strother Smith





SECRETARY: Mr T P S Strother Smith





REGISTERED OFFICE: 2-6 Tenter Ground
London
E1 7NH





REGISTERED NUMBER: 07348671 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 41 82
Tangible assets 5 1,580,741 6,410
1,580,782 6,492

CURRENT ASSETS
Stocks 6,863 37,783
Debtors 6 153,056 209,558
Cash at bank 57,567 401,254
217,486 648,595
CREDITORS
Amounts falling due within one year 7 386,057 197,367
NET CURRENT (LIABILITIES)/ASSETS (168,571 ) 451,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,412,211

457,720

CREDITORS
Amounts falling due after more than one
year

8

(927,642

)

-

PROVISIONS FOR LIABILITIES (23,963 ) (1,233 )
NET ASSETS 460,606 456,487

CAPITAL AND RESERVES
Called up share capital 10 66 66
Revaluation reserve 11 68,594 -
Capital redemption reserve 33 33
Retained earnings 391,913 456,388
SHAREHOLDERS' FUNDS 460,606 456,487

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

BALANCE SHEET - continued
30 APRIL 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr T P S Strother Smith - Director


FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Fabled Studio 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The coronavirus pandemic has disrupted individuals’ personal lives and businesses’ economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place.

We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

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.


FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 3,960
AMORTISATION
At 1 May 2023 3,878
Charge for year 41
At 30 April 2024 3,919
NET BOOK VALUE
At 30 April 2024 41
At 30 April 2023 82

FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 - 169 10,403 14,079 24,651
Additions 1,483,541 - 723 541 1,484,805
Revaluations 91,459 - - - 91,459
At 30 April 2024 1,575,000 169 11,126 14,620 1,600,915
DEPRECIATION
At 1 May 2023 - 155 6,140 11,946 18,241
Charge for year - 3 998 932 1,933
At 30 April 2024 - 158 7,138 12,878 20,174
NET BOOK VALUE
At 30 April 2024 1,575,000 11 3,988 1,742 1,580,741
At 30 April 2023 - 14 4,263 2,133 6,410

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2024 91,459 - - - 91,459
Cost 1,483,541 169 11,126 14,620 1,509,456
1,575,000 169 11,126 14,620 1,600,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 150,408 174,061
Other debtors 2,648 18,508
Prepayments and accrued income - 16,989
153,056 209,558

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 96,157 -
Trade creditors 2,881 3,879
Corporation tax 86,866 72,079
Social security and other taxes 15,293 10,479
VAT 126,875 105,419
Other creditors 476 1,917
Directors' current accounts 51,108 1,061
Accruals and deferred income 6,401 2,533
386,057 197,367

FABLED STUDIO LIMITED (REGISTERED NUMBER: 07348671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 96,157 -
Bank loans - 2-5 years 288,472 -
Bank loans >5 yr (instalments) 543,013 -
927,642 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 543,013 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,023,799 -

The mortgage is secured by a fixed charged over the property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
66 Ordinary £1 66 66

11. RESERVES
Revaluation
reserve
£   
Transfer 91,459
Deferred tax adjustment on
revalued assets (22,865 )

At 30 April 2024 68,594

12. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £65,229 (2023: £69,019)