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REGISTERED NUMBER: 13243306 (England and Wales)















H + S Studio Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






H + S Studio Limited (Registered number: 13243306)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


H + S Studio Limited

Company Information
for the year ended 31 December 2024







Directors: M S Al Salmy
P D Schulze-Wethmar
D M Sinnett





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 13243306 (England and Wales)






H + S Studio Limited (Registered number: 13243306)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 14,188 21,959
Investments 5 17,491 17,491
31,679 39,450

Current assets
Debtors 6 547,723 185,298
Cash at bank 6,917 2,975
554,640 188,273
Creditors
Amounts falling due within one year 7 614,638 256,763
Net current liabilities (59,998 ) (68,490 )
Total assets less current liabilities (28,319 ) (29,040 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 (28,419 ) (29,140 )
Shareholders' funds (28,319 ) (29,040 )

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

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

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 9 March 2025 and were signed on its behalf by:





M S Al Salmy - Director


H + S Studio Limited (Registered number: 13243306)

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


1. Statutory information

H + S 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
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Preparation of consolidated financial statements
The financial statements contain information about H + S 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 and directors.

H + S Studio Limited (Registered number: 13243306)

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


2. Accounting policies - continued

Significant judgements and estimates
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and
outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies
The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty :

Fixed asset investments
The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates recoverable amount of the asset. if the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset is carried at a revalued amount where the impairment loss of a revalued asset is a revaluation decrease.

Determining residual values and useful economic lives of property, plant and equipment
The Company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives is based on historical performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.
Judgement is applied by management when determining the residual values for plant, machinery and equipment. When determining the residual value management aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

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

H + S Studio Limited (Registered number: 13243306)

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


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds both basic financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.
At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Equity investments
Equity investments comprise ordinary shares, not publicly traded in active markets for which a reliable fair value cannot be measured reliably. Equity investments are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss.

(iv) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.
Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Equity
Equity instruments are classified in accordance with the substance of contractual agreement. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Equity instruments issued by the Company are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the exchange rate prevailing at that date the transaction took place. Where this is not possible to determine, income and expense items are translated using an average exchange rate for the period.

Monetary assets and liabilities denominated in foreign currencies at the reporting date are reported at the rates of exchange prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at the reporting date of monetary assets and liabilities are reported in profit or loss.

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.

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.

H + S Studio Limited (Registered number: 13243306)

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


3. Employees and directors

The average number of employees during the year was 10 (2023 - 11 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 January 2024 2,093 27,239 29,332
Additions - 4,731 4,731
Disposals - (2,560 ) (2,560 )
At 31 December 2024 2,093 29,410 31,503
Depreciation
At 1 January 2024 465 6,908 7,373
Charge for year 698 10,524 11,222
Eliminated on disposal - (1,280 ) (1,280 )
At 31 December 2024 1,163 16,152 17,315
Net book value
At 31 December 2024 930 13,258 14,188
At 31 December 2023 1,628 20,331 21,959

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2024
and 31 December 2024 17,491
Net book value
At 31 December 2024 17,491
At 31 December 2023 17,491

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

H and S Studio (Pvt) Ltd
Registered office: 2nd Floor, 9A St Albans Place, Colombo - 04, 00400, Sri Lanka
Nature of business: Architectural activities
%
Class of shares: holding
Ordinary 100.00

H&S Studio Architects and Interior Designers d.o.o. Beograd
Registered office: Kraljice Natalije 72, Savski Venac, Beograd, 11000, Serbia
Nature of business: Architectural activities
%
Class of shares: holding
Ordinary 100.00

H + S Studio Limited (Registered number: 13243306)

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


6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 541,565 148,980
Other debtors 100 23,836
VAT 1,866 9,214
Prepayments 4,192 3,268
547,723 185,298

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 279,838 13,284
Social security and other taxes 100,126 14,073
Other creditors 6,221 2,213
Directors' current accounts 224,653 224,553
Accrued expenses 3,800 2,640
614,638 256,763

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

9. Reserves
Retained
earnings
£

At 1 January 2024 (29,140 )
Profit for the year 721
At 31 December 2024 (28,419 )