Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01false6wholesale of clothing and footwear6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05404170 2023-06-01 2024-05-31 05404170 2022-08-01 2023-05-31 05404170 2024-05-31 05404170 2023-05-31 05404170 c:Director3 2023-06-01 2024-05-31 05404170 c:Director4 2023-06-01 2024-05-31 05404170 d:PlantMachinery 2023-06-01 2024-05-31 05404170 d:PlantMachinery 2024-05-31 05404170 d:PlantMachinery 2023-05-31 05404170 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05404170 d:FurnitureFittings 2023-06-01 2024-05-31 05404170 d:FurnitureFittings 2024-05-31 05404170 d:FurnitureFittings 2023-05-31 05404170 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05404170 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05404170 d:CurrentFinancialInstruments 2024-05-31 05404170 d:CurrentFinancialInstruments 2023-05-31 05404170 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 05404170 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05404170 d:ShareCapital 2024-05-31 05404170 d:ShareCapital 2023-05-31 05404170 d:CapitalRedemptionReserve 2024-05-31 05404170 d:CapitalRedemptionReserve 2023-05-31 05404170 d:RetainedEarningsAccumulatedLosses 2024-05-31 05404170 d:RetainedEarningsAccumulatedLosses 2023-05-31 05404170 c:FRS102 2023-06-01 2024-05-31 05404170 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05404170 c:FullAccounts 2023-06-01 2024-05-31 05404170 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05404170 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 05404170









CHILTERN STREET STUDIO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
CHILTERN STREET STUDIO LIMITED
REGISTERED NUMBER: 05404170

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,022
2,984

  
2,022
2,984

Current assets
  

Stocks
 5 
5,219
-

Debtors: amounts falling due within one year
 6 
1,000,352
683,851

Cash at bank and in hand
 7 
285,637
579,857

  
1,291,208
1,263,708

Creditors: amounts falling due within one year
 8 
(224,085)
(273,952)

Net current assets
  
 
 
1,067,123
 
 
989,756

Total assets less current liabilities
  
1,069,145
992,740

  

Net assets
  
1,069,145
992,740


Capital and reserves
  

Called up share capital 
  
50
50

Capital redemption reserve
  
150
150

Profit and loss account
  
1,068,945
992,540

  
1,069,145
992,740


Page 1

 
CHILTERN STREET STUDIO LIMITED
REGISTERED NUMBER: 05404170
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Wilson
D S Tavernier
Director
Director


Date: 13 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Chiltern Street Studios Limited is a private company limited by shares and incorporated in England & Wales (company number: 05404170). Its registered office is 101 New Cavendish Street, London, England, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33% straight line
Fixtures and fittings
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 August 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 5

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2023
49,779
374
50,153


Additions
1,115
-
1,115



At 31 May 2024

50,894
374
51,268



Depreciation


At 1 June 2023
46,796
374
47,170


Charge for the year on owned assets
2,076
-
2,076



At 31 May 2024

48,872
374
49,246



Net book value



At 31 May 2024
2,022
-
2,022



At 31 May 2023
2,984
-
2,984

Page 6

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
5,219
-

5,219
-



6.


Debtors

2024
2023
£
£


Trade debtors
971,867
659,105

Prepayments and accrued income
28,485
24,746

1,000,352
683,851



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
285,637
579,857

285,637
579,857



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
67,623
45,485

Corporation tax
59,953
41,028

Other taxation and social security
14,644
38,531

Other creditors
65,560
101,639

Accruals and deferred income
16,305
47,269

224,085
273,952


Page 7

 
CHILTERN STREET STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Pension commitments

The company operates a defined contributions pension scheme for its directors. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £120,000 (2023 - £122,293).


10.


Related party transactions

Included within trade debtors is £742,763 (2023: £620,280) owed to a company under common control.
Included within other creditors is £16,000 (2023: £16,000) owed to the directors.

 
Page 8