Company registration number 12405597 (England and Wales)
STANDARD STUDIOS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
STANDARD STUDIOS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
STANDARD STUDIOS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
358
2,146
Investment property
4
3,610,235
3,610,235
3,610,593
3,612,381
Current assets
Debtors
5
35,277
37,904
Cash at bank and in hand
10,874
5,351
46,151
43,255
Creditors: amounts falling due within one year
6
(482,824)
(420,413)
Net current liabilities
(436,673)
(377,158)
Total assets less current liabilities
3,173,920
3,235,223
Creditors: amounts falling due after more than one year
7
(1,978,891)
(1,994,831)
Provisions for liabilities
(306,862)
(315,393)
Net assets
888,167
924,999
Capital and reserves
Called up share capital
200
200
Non-distributable profits reserve
9
1,001,802
1,001,802
Distributable profit and loss reserves
(113,835)
(77,003)
Total equity
888,167
924,999
STANDARD STUDIOS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 May 2025
Mr G R Knight
Director
Company registration number 12405597 (England and Wales)
STANDARD STUDIOS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Standard Studios Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Studio 13c, Excelsior Studios, 17-19 Sunbeam Road, London, NW10 6JP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Although the company has net current liabilities at the balance sheet date, the accounts have been prepared on the going concern basis as the director has agreed to provide continued financial assistance by deferring loans repayable on demand until the company has sufficient funds available, and providing additional funds as required.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

STANDARD STUDIOS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
7,153
Depreciation and impairment
At 1 January 2024
5,007
Depreciation charged in the year
1,788
At 31 December 2024
6,795
Carrying amount
At 31 December 2024
358
At 31 December 2023
2,146
STANDARD STUDIOS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
3,610,235

The investment property valuation was made by the director on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,667
2,734
Other debtors
33,610
35,170
35,277
37,904
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
26,309
32,665
Trade creditors
1,947
1,788
Taxation and social security
15,849
13,305
Other creditors
438,719
372,655
482,824
420,413
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,978,891
1,994,831
Creditors which fall due after five years are payable as follows:
Payable by instalments
1,843,782
1,827,081
STANDARD STUDIOS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
2,005,200
2,027,496
The bank loans are secured by a legal charge over the company's freehold property.
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning and end of the year
1,001,802
1,001,802
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