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REGISTERED NUMBER: 08474721 (England and Wales)













Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 30th June 2024

for

Echo Studios Holdings Limited

Echo Studios Holdings Limited (Registered number: 08474721)

Contents of the Financial Statements
for the Year Ended 30th June 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Echo Studios Holdings Limited

Company Information
for the Year Ended 30th June 2024







DIRECTORS: F H Cardwell
Mrs P C Cardwell
M D Cardwell





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 08474721 (England and Wales)





AUDITORS: Whiteleys
Chartered Certified Accountants
& Statutory Auditor
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Echo Studios Holdings Limited (Registered number: 08474721)

Strategic Report
for the Year Ended 30th June 2024


The directors present their strategic report for the year ended 30th June 2024.

REVIEW OF BUSINESS
The Company's principal activity continues to be that of an intermediate holding company for a graphic design and retail production house.

RESULTS AND PERFORMANCE
The results of the Company for the year, as set out on pages 10 to 21 show a profit on ordinary activities before taxation of £341,537 (2023: £293,226) . The shareholders' funds of the company total £8,402,401 (2023: £8,150,986).

The directors consider the results for the year ended 30 June 2024 to be satisfactory. The revenue is represented by management fees and rent charged to its trading subsidiary.

BUSINESS ENVIRONMENT
The design and print industry, in which the subsidiary operates, particularly the retail and travel sectors have remained highly competitive and fast evolving. The company and its subsidiary have, however, consolidated in its target markets by expanding its range of solutions offered to clients. Particularly by offering a greater range of services as well as focusing on sustainable design and technology solutions, thus the company has kept pace with new developments and changing demands of the market.

STRATEGY
The Company's success has, and will continue to, depend on being able to provide the best quality product through its subsidiary by taking advantage of the most up to date equipment and technologies as well as through innovation and creativity. In addition, the Group has focused on consolidating new revenue streams which has led to a broadening of the Company's client base and geographical reach. The Company strategy is to continue to seek opportunities to expand its services to an increasingly global market with a focus on more international projects.

KEY PERFORMANCE INDICATORS (KPI'S)
We have made significant progress throughout the year in relation to key elements of our Group strategy. The Board monitors the progress of the company by reference a number of KPI's across the group as reported by the trading subsidiary.

Sustainability

The Group is increasingly measuring performance by reference to KPI's linked to environmental sustainability and has made good progress in maximising the percentage of materials obtained from sustainable sources, recycling, and minimising net energy consumption and carbon emissions.

FINANCIAL INSTRUMENTS
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are conducted largely in sterling. The company does not enter into formally designated hedging arrangements.


Echo Studios Holdings Limited (Registered number: 08474721)

Strategic Report
for the Year Ended 30th June 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The process of risk acceptance and risk management is addressed through robust internal policies, procedures and controls.

The board manages cash and working capital to ensure the company has the financial strength to meet its requirements and support the growth of the business as well as manage the impact of the pandemic crisis.

ON BEHALF OF THE BOARD:





F H Cardwell - Director


10th March 2025

Echo Studios Holdings Limited (Registered number: 08474721)

Report of the Directors
for the Year Ended 30th June 2024


The directors present their report with the financial statements of the company for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The Company's principal activity continues to be that of an intermediate holding company for a graphic design and retail production house.

DIVIDENDS
No dividends will be distributed for the year ended 30th June 2024.

FUTURE DEVELOPMENTS
These are set out in the strategic report under strategy.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report.

F H Cardwell
Mrs P C Cardwell
M D Cardwell

GOING CONCERN
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Echo Studios Holdings Limited (Registered number: 08474721)

Report of the Directors
for the Year Ended 30th June 2024


AUDITORS
Whiteleys are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





F H Cardwell - Director


10th March 2025

Report of the Independent Auditors to the Members of
Echo Studios Holdings Limited


Opinion
We have audited the financial statements of Echo Studios Holdings Limited (the 'company') for the year ended 30th June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Echo Studios Holdings Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Echo Studios Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commercial knowledge and experience of the business sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006 and taxation;
- we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence where available; and
- identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.


We assessed the susceptibility of the company’s financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed
procedures which included, but not were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators, and the company’s legal advisors, where
available.

There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Auditing standards also limit the audit procedures required to indentify non-compliance with laws and

Report of the Independent Auditors to the Members of
Echo Studios Holdings Limited

regulations to enquiry of the directors and other management and the inspection of regulatory and
legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as
they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Neil Dennis Hollingshead FCCA (Senior Statutory Auditor)
for and on behalf of Whiteleys
Chartered Certified Accountants
& Statutory Auditor
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

10th March 2025

Echo Studios Holdings Limited (Registered number: 08474721)

Statement of Comprehensive
Income
for the Year Ended 30th June 2024

2024 2023
Notes £    £   

TURNOVER 515,712 544,462

Administrative expenses 176,194 251,244
OPERATING PROFIT 339,518 293,218

Interest receivable and similar income 2,824 1,145
342,342 294,363

Interest payable and similar expenses 6 805 1,137
PROFIT BEFORE TAXATION 7 341,537 293,226

Tax on profit 8 90,122 86,955
PROFIT FOR THE FINANCIAL YEAR 251,415 206,271

OTHER COMPREHENSIVE INCOME
Notional interest on restated loan - (159 )
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

-

(159

)
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

251,415

206,112

Echo Studios Holdings Limited (Registered number: 08474721)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 1,997,500 2,182,710
Investments 11 5,800,000 5,800,000
7,797,500 7,982,710

CURRENT ASSETS
Debtors 12 6,873,838 3,866,025
Cash at bank 160,915 101,251
7,034,753 3,967,276
CREDITORS
Amounts falling due within one year 13 6,331,640 3,674,360
NET CURRENT ASSETS 703,113 292,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,500,613

8,275,626

PROVISIONS FOR LIABILITIES 14 98,212 124,640
NET ASSETS 8,402,401 8,150,986

CAPITAL AND RESERVES
Called up share capital 15 1,000,000 1,000,000
Capital redemption reserve 16 1,800,000 1,800,000
Retained earnings 16 5,602,401 5,350,986
SHAREHOLDERS' FUNDS 8,402,401 8,150,986

The financial statements were approved by the Board of Directors and authorised for issue on 10th March 2025 and were signed on its behalf by:





F H Cardwell - Director


Echo Studios Holdings Limited (Registered number: 08474721)

Statement of Changes in Equity
for the Year Ended 30th June 2024

Called up Capital
share Retained redemption Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1st July 2022 1,000,000 5,644,715 1,800,000 159 8,444,874

Changes in equity
Dividends - (500,000 ) - - (500,000 )
Total comprehensive income - 206,271 - (159 ) 206,112
Balance at 30th June 2023 1,000,000 5,350,986 1,800,000 - 8,150,986

Changes in equity
Total comprehensive income - 251,415 - - 251,415
Balance at 30th June 2024 1,000,000 5,602,401 1,800,000 - 8,402,401

Echo Studios Holdings Limited (Registered number: 08474721)

Cash Flow Statement
for the Year Ended 30th June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 470,335 494,986
Interest paid (805 ) (1,137 )
Tax paid (62,648 ) (31,820 )
Net cash from operating activities 406,882 462,029

Cash flows from investing activities
Sale of tangible fixed assets 30,001 -
Sale of fixed asset investments - 50,000
Interest received 2,824 1,145
Net cash from investing activities 32,825 51,145

Cash flows from financing activities
Loan to/(from) from group undertaking (212,004 ) (168,355 )
Capital contribution reserve movement (168,039 ) -
Equity dividends paid - (500,000 )
Net cash from financing activities (380,043 ) (668,355 )

Increase/(decrease) in cash and cash equivalents 59,664 (155,181 )
Cash and cash equivalents at
beginning of year

2

101,251

256,432

Cash and cash equivalents at end of
year

2

160,915

101,251

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Cash Flow Statement
for the Year Ended 30th June 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 341,537 293,226
Depreciation charges 161,358 244,833
Profit on disposal of fixed assets (6,149 ) (10,000 )
Capital contribution-restatement of DLA - (159 )
Finance costs 805 1,137
Finance income (2,824 ) (1,145 )
494,727 527,892
Increase in trade and other debtors (39,774 ) -
Increase/(decrease) in trade and other creditors 15,382 (32,906 )
Cash generated from operations 470,335 494,986

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 160,915 101,251
Year ended 30th June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 101,251 256,432


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank 101,251 59,664 160,915
101,251 59,664 160,915
Total 101,251 59,664 160,915

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements
for the Year Ended 30th June 2024


1. STATUTORY INFORMATION

Echo Studios Holdings 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 (£).


The principal place of business of the company is Echo House, Red Lion Business Park, Surbiton, Surrey KT6 7RD.

2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
As set out in the strategic report, the directors believe that the company and its subsidiary are well placed to manage its business risks successfully.

Accordingly, they have a firm expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for management charges and rental income, stated net of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is
probable that future economic benefits will flow to the entity and when specific criteria have been met
for each of the company’s activities described above.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of all tangible assets, other than freehold land less their residual value, over their estimated useful lives as follows:

Freehold property-2% on cost
Plant and machinery-15% on cost
Fixtures and fittings-25% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


3. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments
Unlisted investments are recognised at cost.

4. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30th June 2024 not for the year ended 30th June 2023.

5. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration - -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
HMRC interest payable 805 1,137

7. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 161,358 244,833
Profit on disposal of fixed assets (6,149 ) (10,000 )
Auditors remuneration - audit 14,796 10,500

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 116,550 102,422

Deferred tax (26,428 ) (15,467 )
Tax on profit 90,122 86,955

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 341,537 293,226
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 20.496%)

85,384

60,100

Effects of:
Fixed asset differences 4,738 24,805
Chargeable gain - 2,050

Total tax charge 90,122 86,955

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30th June 2024.

2023
Gross Tax Net
£    £    £   
Notional interest on restated loan (159 ) - (159 )

9. DIVIDENDS
2024 2023
£    £   
Ordinary-A shares of £1.00 each
Interim - 500,000

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st July 2023 1,963,727 2,464,856 176,284 4,604,867
Disposals - (467,685 ) - (467,685 )
At 30th June 2024 1,963,727 1,997,171 176,284 4,137,182
DEPRECIATION
At 1st July 2023 139,791 2,106,082 176,284 2,422,157
Charge for year 18,951 142,407 - 161,358
Eliminated on disposal - (443,833 ) - (443,833 )
At 30th June 2024 158,742 1,804,656 176,284 2,139,682
NET BOOK VALUE
At 30th June 2024 1,804,985 192,515 - 1,997,500
At 30th June 2023 1,823,936 358,774 - 2,182,710

Included in cost of land and buildings is freehold land of £ 1,016,180 (2023 - £ 1,016,180 ) which is not depreciated.

11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st July 2023
and 30th June 2024 5,800,000
NET BOOK VALUE
At 30th June 2024 5,800,000
At 30th June 2023 5,800,000

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


11. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Echo Studios Limited
Registered office: Sovereign House, 155 High Street, Aldershot, Hampshire GU11 1TT
Nature of business: Trading company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 12,632,103 9,686,608
Profit for the year 3,933,925 2,870,312

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 6,666,025 3,866,025
Other debtors 39,774 -
Directors' current accounts 168,039 -
6,873,838 3,866,025

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,049 9,979
Amounts owed to group undertakings 6,114,907 3,526,911
Corporation tax 156,324 102,422
VAT 38,360 25,786
Accruals and deferred income 12,000 9,262
6,331,640 3,674,360

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 98,212 124,640

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


14. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st July 2023 124,640
Credit to Statement of Comprehensive Income during year (26,428 )
Balance at 30th June 2024 98,212

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary-A £1.00 1,000,000 1,000,000

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All ordinary shares rank equally with regard to the company's residual assets.

16. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st July 2023 5,350,986 1,800,000 7,150,986
Profit for the year 251,415 251,415
At 30th June 2024 5,602,401 1,800,000 7,402,401

Capital redemption reserve - This reserve is a non-distributable reserve and represents the nominal value of shares purchased and cancelled.

Retained earnings reserve - This reserve represents retained earnings available for distribution.

17. CONTINGENT LIABILITIES

Together with its fellow group companies, the company has provided guarantees and security in support of group borrowings from Barclays Bank PLC.

The security provided comprises fixed and floating charges over all property and undertaking of the business.

Echo Studios Holdings Limited (Registered number: 08474721)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023:

2024 2023
£    £   
M D Cardwell
Balance outstanding at start of year - -
Amounts advanced 168,039 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 168,039 -

19. RELATED PARTY DISCLOSURES

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.

Echo Studios Holdings Limited is a wholly owned subsidiary of Echo House Limited, which prepares group financial statements. Its registered office is at Griffin House, 135 High Street, Crawley, West Sussex, United Kingdom, RH10 1DQ.

The company's key management personnel are considered to be the directors.

The ultimate controlling party is M D Cardwell.