Registered number
10326978
OS Studios Limited
Filleted Accounts
31 August 2024
OS Studios Limited
Registered number: 10326978
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 401,036 396,061
Current assets
Debtors 4 20,497 21,311
Cash at bank and in hand 3,924 364
24,421 21,675
Creditors: amounts falling due within one year 5 (434,771) (675,648)
Net current liabilities (410,350) (653,973)
Net liabilities (9,314) (257,912)
Capital and reserves
Called up share capital 339 307
Share premium 319,968 -
Profit and loss account (329,621) (258,219)
Shareholders' funds (9,314) (257,912)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Charles Burdge
Director
Approved by the board on 22 May 2025
OS Studios Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements Straight line over 10 years
Furniture, fittings and equipment Straight line over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Property
improvements
Furniture,
fittings and
equipment
Total
£ £ £
Cost
At 1 September 2023 354,811 45,119 399,930
Additions 16,066 6,437 22,503
At 31 August 2024 370,877 51,556 422,433
Depreciation
At 1 September 2023 2,365 1,504 3,869
Charge for the year 14,737 2,791 17,528
At 31 August 2024 17,102 4,295 21,397
Net book value
At 31 August 2024 353,775 47,261 401,036
At 31 August 2023 352,446 43,615 396,061
4 Debtors 2024 2023
£ £
Arch Light Cinemas Ltd Loan 20,000 -
Recoverable VAT 497 21,311
20,497 21,311
5 Creditors: amounts falling due within one year 2024 2023
£ £
Barnes cinema Ltd 57,697 57,697
Trade creditors 215,711 142,688
Taxation and social security costs - 3,596
Paid up but unissued share capital 155,000 440,000
Other creditors 6,363 31,667
434,771 675,648
6 Going concern
The company made a loss for the year ended 31 August 2024, and had net liabilities of £9,314 at that date.
Subsequent to 31 August 2024 further share capital was issued and allotted for an amount of £155,000 to provide working capital.
Therefore, after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
7 Controlling party
The directors are the ultimate controlling party
8 Other information
OS Studios Limited is a private company limited by shares and incorporated in England. Its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU
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