IRIS Accounts Production v24.3.2.46 11389848 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113898482023-05-31113898482024-05-31113898482023-06-012024-05-31113898482022-05-31113898482022-06-012023-05-31113898482023-05-3111389848ns15:EnglandWales2023-06-012024-05-3111389848ns14:PoundSterling2023-06-012024-05-3111389848ns10:Director12023-06-012024-05-3111389848ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3111389848ns10:SmallEntities2023-06-012024-05-3111389848ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3111389848ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3111389848ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3111389848ns10:FullAccounts2023-06-012024-05-311138984812023-06-012024-05-3111389848ns10:Director22023-06-012024-05-3111389848ns10:RegisteredOffice2023-06-012024-05-3111389848ns5:CurrentFinancialInstruments2024-05-3111389848ns5:CurrentFinancialInstruments2023-05-3111389848ns5:Non-currentFinancialInstruments2024-05-3111389848ns5:Non-currentFinancialInstruments2023-05-3111389848ns5:ShareCapital2024-05-3111389848ns5:ShareCapital2023-05-3111389848ns5:RetainedEarningsAccumulatedLosses2024-05-3111389848ns5:RetainedEarningsAccumulatedLosses2023-05-3111389848ns5:NetGoodwill2023-06-012024-05-3111389848ns5:PlantMachinery2023-06-012024-05-3111389848ns5:NetGoodwill2023-05-3111389848ns5:NetGoodwill2024-05-3111389848ns5:NetGoodwill2023-05-3111389848ns5:PlantMachinery2023-05-3111389848ns5:PlantMachinery2024-05-3111389848ns5:PlantMachinery2023-05-3111389848ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3111389848ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-05-3111389848ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-012024-05-3111389848ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3111389848ns5:AdditionsToInvestments2024-05-3111389848ns5:CostValuation2024-05-3111389848ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3111389848ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3111389848ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-05-3111389848ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-05-3111389848ns5:WithinOneYear2024-05-3111389848ns5:WithinOneYear2023-05-31
REGISTERED NUMBER: 11389848 (England and Wales)















NO 21 FLOOR STUDIO LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

NO 21 FLOOR STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: P Robinson
A Robinson





REGISTERED OFFICE: c/o Cox Costello & Horne
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ





REGISTERED NUMBER: 11389848 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 37,367 59,165
Tangible assets 5 1,248 2,000
Investments 6 50,000 -
88,615 61,165

CURRENT ASSETS
Stocks 3,000 8,000
Debtors 7 6,055 11,535
Cash at bank and in hand 10,690 4,540
19,745 24,075
CREDITORS
Amounts falling due within one year 8 93,113 78,655
NET CURRENT LIABILITIES (73,368 ) (54,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,247

6,585

CREDITORS
Amounts falling due after more than one
year

9

(9,850

)

(19,657

)

PROVISIONS FOR LIABILITIES (542 ) (400 )
NET ASSETS/(LIABILITIES) 4,855 (13,472 )

CAPITAL AND RESERVES
Called up share capital 10,000 100
Retained earnings (5,145 ) (13,572 )
4,855 (13,472 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





P Robinson - Director


NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

No 21 Floor 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.

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.

Going concern basis
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about No 21 Floor Studio Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Sales are usually by cash, credit or payment card.

Turnover is wholly derived within the United Kingdom.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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.
Plant and machinery etc - 33% on cost

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investments in subsidiaries
Investments in subsidiaries are carried at cost less accumulated impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank
Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
-the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using 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
The company makes contributions into the personal retirement schemes of certain staff. Contributions by the company and staff are determined by mutual agreement.

Staff contract directly with the pension company, and assets of those schemes are held separately from those of the company. The company acts as agent in collecting and paying over staff pension contributions. Once the contributions have been paid, the company as employer has no further obligations.

The company's contributions are charged to the profit and loss in the period to which they relate.

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 62,279
AMORTISATION
At 1 June 2023 3,114
Charge for year 21,798
At 31 May 2024 24,912
NET BOOK VALUE
At 31 May 2024 37,367
At 31 May 2023 59,165

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 June 2023 19,499
Additions 1,116
At 31 May 2024 20,615
DEPRECIATION
At 1 June 2023 17,499
Charge for year 1,868
At 31 May 2024 19,367
NET BOOK VALUE
At 31 May 2024 1,248
At 31 May 2023 2,000

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£
COST
At 1 June 2023 18,600
Reclassification/transfer (18,600 )
At 31 May 2024 -
DEPRECIATION
At 1 June 2023 17,050
Charge for year 1,550
Reclassification/transfer (18,600 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 1,550

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 50,000
At 31 May 2024 50,000
NET BOOK VALUE
At 31 May 2024 50,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 3,029 11,084
Other debtors 3,026 451
6,055 11,535

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Bank loan 9,583 8,754
Hire purchase contracts (see note 10) - 1,138
Trade creditors 12,054 28,508
Amounts owed to group undertakings 29,000 -
Taxation and social security 11,877 6,823
Other creditors 30,599 33,432
93,113 78,655

NO 21 FLOOR STUDIO LIMITED (REGISTERED NUMBER: 11389848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£ £
Bank loan 9,850 19,657

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£ £
Net obligations repayable:
Within one year - 1,138

Non-cancellable
operating leases
31.5.24 31.5.23
£ £
Within one year 3,466 1,733

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the directors .

At the reporting date, the company owed the directors £14,316 (2023: £31,680).

Amounts outstanding are unsecured, yield no interest, have no fixed terms of repayment and is considered to be payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NO 21 FLOOR STUDIO LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of No 21 Floor Studio Limited for the year ended 31 May 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of No 21 Floor Studio Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of No 21 Floor Studio Limited and state those matters that we have agreed to state to the Board of Directors of No 21 Floor Studio Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than No 21 Floor Studio Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that No 21 Floor Studio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of No 21 Floor Studio Limited. You consider that No 21 Floor Studio Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of No 21 Floor Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ


21 February 2025