Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07754090 Mr Nicholas Mulley Mr Rory O'Connor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07754090 2023-08-31 07754090 2024-08-31 07754090 2023-09-01 2024-08-31 07754090 frs-core:CurrentFinancialInstruments 2024-08-31 07754090 frs-core:ComputerEquipment 2024-08-31 07754090 frs-core:ComputerEquipment 2023-09-01 2024-08-31 07754090 frs-core:ComputerEquipment 2023-08-31 07754090 frs-core:FurnitureFittings 2024-08-31 07754090 frs-core:FurnitureFittings 2023-09-01 2024-08-31 07754090 frs-core:FurnitureFittings 2023-08-31 07754090 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-08-31 07754090 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 07754090 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-31 07754090 frs-core:MotorVehicles 2024-08-31 07754090 frs-core:MotorVehicles 2023-09-01 2024-08-31 07754090 frs-core:MotorVehicles 2023-08-31 07754090 frs-core:WithinOneYear 2024-08-31 07754090 frs-core:CapitalRedemptionReserve 2024-08-31 07754090 frs-core:ShareCapital 2024-08-31 07754090 frs-core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 07754090 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07754090 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07754090 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07754090 frs-bus:SmallEntities 2023-09-01 2024-08-31 07754090 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07754090 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07754090 frs-core:UnlistedNon-exchangeTraded 2024-08-31 07754090 frs-core:UnlistedNon-exchangeTraded 2023-08-31 07754090 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 07754090 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 07754090 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 07754090 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 07754090 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 07754090 frs-bus:Director1 2023-09-01 2024-08-31 07754090 frs-bus:Director2 2023-09-01 2024-08-31 07754090 frs-core:CurrentFinancialInstruments 1 2024-08-31 07754090 frs-core:CurrentFinancialInstruments 2 2024-08-31 07754090 frs-countries:EnglandWales 2023-09-01 2024-08-31 07754090 2022-08-31 07754090 2023-08-31 07754090 2022-09-01 2023-08-31 07754090 frs-core:CurrentFinancialInstruments 2023-08-31 07754090 frs-core:BetweenOneFiveYears 2023-08-31 07754090 frs-core:WithinOneYear 2023-08-31 07754090 frs-core:CapitalRedemptionReserve 2022-09-01 2023-08-31 07754090 frs-core:CapitalRedemptionReserve 2022-08-31 07754090 frs-core:CapitalRedemptionReserve 2023-08-31 07754090 frs-core:ShareCapital 2022-09-01 2023-08-31 07754090 frs-core:ShareCapital 2022-08-31 07754090 frs-core:ShareCapital 2023-08-31 07754090 frs-core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 07754090 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-08-31 07754090 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 07754090 frs-core:CurrentFinancialInstruments 1 2023-08-31 07754090 frs-core:CurrentFinancialInstruments 2 2023-08-31
Registered number: 07754090
Clubhouse Studios Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 07754090
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,971 100,563
Investments 5 248,827 34,045
318,798 134,608
CURRENT ASSETS
Debtors 6 1,165,375 1,214,326
Cash at bank and in hand 447,595 1,031,140
1,612,970 2,245,466
Creditors: Amounts Falling Due Within One Year 7 (613,756 ) (841,962 )
NET CURRENT ASSETS (LIABILITIES) 999,214 1,403,504
TOTAL ASSETS LESS CURRENT LIABILITIES 1,318,012 1,538,112
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,485 ) (10,386 )
NET ASSETS 1,309,527 1,527,726
CAPITAL AND RESERVES
Called up share capital 8 16 16
Capital redemption reserve 14 14
Profit and Loss Account 1,309,497 1,527,696
SHAREHOLDERS' FUNDS 1,309,527 1,527,726
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Mulley
Director
Mr Rory O'Connor
Director
28/04/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Capital Redemption Profit and Loss Account Total
£ £ £ £
As at 1 September 2022 24 6 2,167,864 2,167,894
Profit for the year and total comprehensive income - - 433,626 433,626
Dividends paid - - (372,127) (372,127)
Purchase of own shares (8 ) 8 - -
Purchase of own shares - - (701,667) (701,667)
As at 31 August 2023 and 1 September 2023 16 14 1,527,696 1,527,726
Profit for the year and total comprehensive income - - 107,336 107,336
Dividends paid - - (325,535) (325,535)
As at 31 August 2024 16 14 1,309,497 1,309,527
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Clubhouse Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07754090 . The registered office is 5th Floor, Verse Building, Brunswick Place, London, N1 6DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 33.33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 4
Page 5
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 19)
19 19
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 114,919 3,475 136,067 125,500 379,961
Additions - - 3,878 13,843 17,721
Disposals - - - (8,856 ) (8,856 )
As at 31 August 2024 114,919 3,475 139,945 130,487 388,826
Depreciation
As at 1 September 2023 85,908 3,475 85,162 104,853 279,398
Provided during the period 16,889 - 13,696 16,238 46,823
Disposals - - - (7,366 ) (7,366 )
As at 31 August 2024 102,797 3,475 98,858 113,725 318,855
Net Book Value
As at 31 August 2024 12,122 - 41,087 16,762 69,971
As at 1 September 2023 29,011 - 50,905 20,647 100,563
Page 5
Page 6
5. Investments
Unlisted
£
Cost
As at 1 September 2023 60,096
Additions 214,782
As at 31 August 2024 274,878
Provision
As at 1 September 2023 26,051
As at 31 August 2024 26,051
Net Book Value
As at 31 August 2024 248,827
As at 1 September 2023 34,045
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 575,784 905,878
Prepayments and accrued income 402,926 170,116
Other debtors 59,304 59,304
Sundry debtors 52,361 4,028
Minority Shareholding Investment 75,000 75,000
1,165,375 1,214,326
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 90,517 212,945
Corporation tax 55,355 133,541
Other taxes and social security 33,980 43,344
VAT 56,441 23,472
Other creditors 29,128 -
Accruals and deferred income 348,335 428,660
613,756 841,962
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 16 16
Page 6
Page 7
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 37,065 148,260
Later than one year and not later than five years - 37,065
37,065 185,325
Page 7