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REGISTERED NUMBER: 10212733 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

R3STORE STUDIOS LIMITED

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R3STORE STUDIOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr D P Monahan
Mr J N Ollenburger





REGISTERED OFFICE: Unit 2 Mereside Park
Shield Rd
Ashford
Middlesex
TW15 1BL





REGISTERED NUMBER: 10212733 (England and Wales)





AUDITORS: Clemence Hoar Cummings
Chartered Accountants and Statutory Auditor
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 216,399 232,878
216,399 232,878

CURRENT ASSETS
Debtors 6 118,070 93,775
Cash at bank and in hand 57,434 48,198
175,504 141,973
CREDITORS
Amounts falling due within one year 7 147,277 151,768
NET CURRENT ASSETS/(LIABILITIES) 28,227 (9,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

244,626

223,083

PROVISIONS FOR LIABILITIES 54,100 58,220
NET ASSETS 190,526 164,863

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 188,526 162,863
190,526 164,863

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 31st March 2025 and were signed on its behalf by:





Mr D P Monahan - Director


R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

R3store Studios Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10212733 and registered office address is Unit 2 Mereside Park, Shield Road, Ashford, Middlesex, TW15 1BL.

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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue is recognised when the content produced is made available to the customer.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Film Archives - 5 years
Website Development - 5 years

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 - 15% on reducing balance

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

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


2. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. 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.

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.

Going concern
The directors believe that the company is experiencing good levels of profitability and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt a going concern basis of accounting in preparation of the financial statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2024
and 31st December 2024 108,910
AMORTISATION
At 1st January 2024
and 31st December 2024 108,910
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 605,710
Additions 22,887
At 31st December 2024 628,597
DEPRECIATION
At 1st January 2024 372,832
Charge for year 39,366
At 31st December 2024 412,198
NET BOOK VALUE
At 31st December 2024 216,399
At 31st December 2023 232,878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Trade debtors 64,344 92,245
Other debtors 53,726 1,530
118,070 93,775

R3STORE STUDIOS LIMITED (REGISTERED NUMBER: 10212733)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Bank loans and overdrafts - 65,000
Trade creditors 6,719 35,092
Amounts owed to group undertakings 103,911 25,000
Taxation and social security 29,733 22,107
Other creditors 6,914 4,569
147,277 151,768

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
(Unaudited)
£    £   
Within one year 122,537 43,588
Between one and five years 402,970 22,326
525,507 65,914

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
(Unaudited)
£    £   
Bank loans - 65,000

The bank loan is secured over the assets of the Company by way of fixed and floating charges.

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

The Report of the Auditors was unqualified.

Kevin Perkins FCA CTA (Senior Statutory Auditor)
Clemence Hoar Cummings Clemence Hoar Cummings

11. ULTIMATE CONTROLLING PARTY

UV&S Ltd owns 100% of the company's ordinary share capital.

The ultimate holding company is Underground Vaults & Storage Inc.which owns 100% of the ordinary share capital of UV&S Ltd.

Underground Vaults & Storage Inc. is a company incorporated in the United States of America, in which the results of the company are incorporated. The registered address of Underground Vaults & Storage Inc. is 906 North Halstead, PO Box 1723, Hutchinson, Kansas 675041723.