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REGISTERED NUMBER: 13110669 (England and Wales)















Financial Statements for the Year Ended 30th June 2024

for

Aspect Studios Limited

Aspect Studios Limited (Registered number: 13110669)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Aspect Studios Limited

Company Information
for the Year Ended 30th June 2024







DIRECTOR: C S Razzell





REGISTERED OFFICE: 29a Crown Street
Brentwood
Essex
CM14 4BA





REGISTERED NUMBER: 13110669 (England and Wales)





AUDITORS: Moulton Johnson Limited
Chartered Accountants & Statutory Auditors
29a Crown Street
Brentwood
Essex
CM14 4BA

Aspect Studios Limited (Registered number: 13110669)

Balance Sheet
30th June 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 24,220 4,573

CURRENT ASSETS
Debtors 5 136,167 170,633
Cash at bank 43,773 42,275
179,940 212,908
CREDITORS
Amounts falling due within one year 6 111,688 38,923
NET CURRENT ASSETS 68,252 173,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,472

178,558

CREDITORS
Amounts falling due after more than one
year

7

263,400

124,900
NET (LIABILITIES)/ASSETS (170,928 ) 53,658

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (170,938 ) 53,648
SHAREHOLDERS' FUNDS (170,928 ) 53,658

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 director and authorised for issue on 23rd March 2025 and were signed by:





C S Razzell - Director


Aspect Studios Limited (Registered number: 13110669)

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

1. STATUTORY INFORMATION

Aspect Studios 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.

This assumes continuity of normal business activities and the realisation of assets and the settlement of liabilities in the ordinary course of business.

Notwithstanding net liabilities of £170,928 as at 30th June 2024 the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

Through its funding from other companies within the Aspect group, the company would continue to meet its liabilities as they fall due.

The other companies with the Aspect group are not seeking repayment of the amounts currently due to them, which as at 30th June 2024 amounted to £263,400.

Aspect Studios Pty Ltd has indicated its intention to continue to make available such funds as are needed by the company, and that it does not intend to seek repayment of the amounts due at the balance sheet date within the short-term.

Revenue recognition
Revenue is measured based on the proportion of consideration receivable during the year as specified in a contract with a customer.

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 etc - 25% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the the date of each Statement of Financial Position. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Aspect Studios Limited (Registered number: 13110669)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st July 2023 6,258
Additions 28,281
At 30th June 2024 34,539
DEPRECIATION
At 1st July 2023 1,685
Charge for year 8,634
At 30th June 2024 10,319
NET BOOK VALUE
At 30th June 2024 24,220
At 30th June 2023 4,573

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade debtors 3,396 -
Amounts owed by group undertakings - 139,414
Amounts recoverable on contracts 40,688 24,770
Other debtors 92,083 6,449
136,167 170,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade creditors 69,512 4,294
Taxation and social security 18,485 26,251
Other creditors 23,691 8,378
111,688 38,923

Aspect Studios Limited (Registered number: 13110669)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£ £
Amounts owed to group undertakings 263,400 124,900

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£ £
Within one year 100,000 19,200
Between one and five years 58,333 -
158,333 19,200

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

The Report of the Auditors was unqualified.

Mark Southgate ACA FCCA (Senior Statutory Auditor)
for and on behalf of Moulton Johnson Limited

10. RELATED PARTY DISCLOSURES

During the year, the ultimate parent company, Aspect Studios Pty Ltd, a company registered in Australia, continued to provide an interest-free loan to the company. The directors of Aspect Studios Pty Ltd have confirmed that repayment of this loan balance is not required before 30th June 2025. The balance due to Aspect Studios Pty Ltd on this loan account at 30th June 2024 amounted to £203,400 (2023: £124,900).

During the year, Aspect Studios Asia Pty Ltd - Dubai Branch, a company registered in Dubai provided an interest-free loan to the company. The directors of Aspect Studios Asia Pty Ltd - Dubai Branch have confirmed that repayment of this loan balance is not required before 30th June 2025. The balance due to Aspect Studios Asia Pty Ltd - Dubai Branch on this loan account at 30th June 2024 amounted to £60,000 (2023: £Nil).