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REGISTERED NUMBER: 08324071 (England and Wales)






















Financial Statements

for the Year Ended 31 March 2024

for

Stephenson Hamilton Risley Studio
Limited

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stephenson Hamilton Risley Studio
Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: K Hamilton
R J Haugh
J Risley
I R Simpson





REGISTERED OFFICE: 3 Riverside Mews
4 Commercial Street
Manchester
M15 4RQ





REGISTERED NUMBER: 08324071 (England and Wales)





AUDITORS: Bennett Brooks & Co Limited
Chartered Accountants
& Statutory Auditors
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 2,821 5,233

CURRENT ASSETS
Debtors 5 509,557 489,137
Cash at bank 70,970 166,796
580,527 655,933
CREDITORS
Amounts falling due within one year 6 (346,792 ) (428,060 )
NET CURRENT ASSETS 233,735 227,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,556

233,106

PROVISIONS FOR LIABILITIES 8 (6,130 ) -
NET ASSETS 230,426 233,106

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 230,326 233,006
230,426 233,106

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





R J Haugh - Director


Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Stephenson Hamilton Risley 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.

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 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.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings 15% Straight line

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.

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.

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.

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss account.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Interest receivable/payable
Interest income and expense are recognised in the financial statements on an accrual basis using the effective interest rate (EIR) method. Interest income is recognised when it is probable that the economic benefits will flow to the entity and the amount can be reliably measured. Interest expenses on financial liabilities, are recorded as expenses in the period they accrue.

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost In profit or loss in the period in which it arises.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2023
and 31 March 2024 50,682
DEPRECIATION
At 1 April 2023 45,449
Charge for year 2,412
At 31 March 2024 47,861
NET BOOK VALUE
At 31 March 2024 2,821
At 31 March 2023 5,233

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 84,022 98,676
Other debtors - 4,500
Due from group undertakings 267,920 267,920
Corporation tax receivable 21,726 28,200
Prepayments & accrued income 135,889 89,841
509,557 489,137

Included within trade debtors, is a bad debt provision amounting to £21,895 (2023: £Nil) for amounts which management have assessed to be irrecoverable.

Amounts due from group undertakings are unsecured, interest free and repayable upon demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 14,242 20,426
Social security & other taxes 15,079 18,144
VAT 28,181 42,423
Other creditors 7,098 6,556
Due to group undertakings 197,979 70,662
Accruals & deferred income 84,213 269,849
346,792 428,060

Amounts due to group undertakings are unsecured, interest free and repayable upon demand.

7. LEASING AGREEMENTS
At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £58,868 (2023: £88,780).

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Other provisions 6,130 -

Stephenson Hamilton Risley Studio
Limited (Registered number: 08324071)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Other provisions is the onerous contracts provision for contracts in which the unavoidable costs of fulfilling a contract exceed the expected economic benefits.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1.00 100 100

100 100
Ordinary shares each carry voting rights, have no restrictions on dividends declared and have full rights on a capital contribution.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

George Wood BA ACA (Senior Statutory Auditor)
for and on behalf of Bennett Brooks & Co Limited

11. ULTIMATE CONTROLLING PARTY

SimpsonHaugh Holding Company Limited is the ultimate parent company and immediate parent in which this company is consolidated. Consolidated financial statements are available from Companies House and may be obtained from the registered address which is Riverside, 4 Commercial Street, Manchester, United Kingdom, M15 4RQ.

The ultimate controlling parties are R J Haugh and I R Simpson.