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REGISTERED NUMBER: 09302269 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

STORMBURST STUDIOS LTD

STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STORMBURST STUDIOS LTD

Company Information
for the year ended 30 June 2024







DIRECTORS: K J Drage
J Heath
D Holt
D Baker





REGISTERED OFFICE: 3rd Floor 86-90 Paul Street
London
EC2A 4NE





REGISTERED NUMBER: 09302269 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 24,506 36,044

CURRENT ASSETS
Debtors 5 257,508 179,757
Cash at bank 720,573 2,216,456
978,081 2,396,213
CREDITORS
Amounts falling due within one year 6 (884,628 ) (876,570 )
NET CURRENT ASSETS 93,453 1,519,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,959

1,555,687

CREDITORS
Amounts falling due after more than one
year

7

(10,510

)

(20,765

)
NET ASSETS 107,449 1,534,922

CAPITAL AND RESERVES
Called up share capital 8 210 210
Share premium 2,852,798 2,852,798
Retained earnings (2,745,559 ) (1,318,086 )
SHAREHOLDERS' FUNDS 107,449 1,534,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)

Balance Sheet - continued
30 June 2024


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 15 April 2025 and were signed on its behalf by:





D Holt - Director


STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Stormburst Studios Ltd 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.

Turnover
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of services is recognised at the point of sale.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment -33% on cost

Financial instruments
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 entity after deducting all of its financial liabilities.

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.

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.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have agreed to support the company as necessary in the foreseeable future and are confident that the business can continue to trade. The company therefore continues to adopt the going concern basis in preparing its financial statements.

STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 July 2023 50,380
Additions 4,715
Disposals (3,165 )
At 30 June 2024 51,930
DEPRECIATION
At 1 July 2023 14,336
Charge for year 15,294
Eliminated on disposal (2,206 )
At 30 June 2024 27,424
NET BOOK VALUE
At 30 June 2024 24,506
At 30 June 2023 36,044

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 12,924 17,918
Other debtors 244,584 161,839
257,508 179,757

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,260 10,000
Trade creditors 63,757 123,177
Taxation and social security 167,342 136,951
Other creditors 643,269 606,442
884,628 876,570

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 10,510 20,765

STORMBURST STUDIOS LTD (REGISTERED NUMBER: 09302269)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. CALLED UP SHARE CAPITAL

Number: Class: Nominal 2024 2023
value: £ £
10,000,000 Ordinary 0.001p 100 100
2,222,200 A Ordinary 0.001p 22 22
8,785,600 B Ordinary 0.001p 88 88
210 210

9. SHARE-BASED PAYMENT TRANSACTIONS

In 2019 an EMI scheme was set up to incentivise key members of staff. As at 30 June 2024 options over 996,975 ordinary shares had been granted to 19 employees.

In 2024 a Non-Tax Advantaged scheme was set up. As at 30 June 2024 options over 694,600 ordinary shares had been granted to 4 option-holders.

There is no charge to the profit and loss account in the year as the conditions that must be met for the options to be exercised are not expected to be fulfilled in the foreseeable future. A full fair value valuation using the Black-Scholes pricing method is not considered justifiable and therefore no adjustment has been made to the financial statements to reflect these share options.