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REGISTERED NUMBER: 07357343 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Reach Studios Limited

Reach Studios Limited (Registered number: 07357343)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Reach Studios Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr A J Claypole
Mr T A King
Mr J Ward





REGISTERED OFFICE: 512 Wortley Road
Rotherham
South Yorkshire
S61 1JJ





REGISTERED NUMBER: 07357343 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Reach Studios Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reach Studios Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Reach Studios Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reach Studios Limited and state those matters that we have agreed to state to the Board of Directors of Reach Studios Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reach Studios Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Reach Studios Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Reach Studios Limited. You consider that Reach Studios Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Reach Studios Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


22 May 2025

Reach Studios Limited (Registered number: 07357343)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 35,844 22,207

CURRENT ASSETS
Debtors 5 212,331 214,589
Cash at bank 57,620 35,375
269,951 249,964
CREDITORS
Amounts falling due within one year 6 291,906 143,643
NET CURRENT (LIABILITIES)/ASSETS (21,955 ) 106,321
TOTAL ASSETS LESS CURRENT LIABILITIES 13,889 128,528

CREDITORS
Amounts falling due after more than one year 7 (6,869 ) (25,398 )

PROVISIONS FOR LIABILITIES (6,810 ) (4,219 )
NET ASSETS 210 98,911

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 110 98,811
210 98,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 22 May 2025 and were signed on its behalf by:





Mr A J Claypole - Director


Reach Studios Limited (Registered number: 07357343)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Reach Studios Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Reach Studios Limited (Registered number: 07357343)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 3,072 44,419 47,491
Additions 4,218 22,366 26,584
At 31 August 2024 7,290 66,785 74,075
DEPRECIATION
At 1 September 2023 647 24,637 25,284
Charge for year 1,369 11,578 12,947
At 31 August 2024 2,016 36,215 38,231
NET BOOK VALUE
At 31 August 2024 5,274 30,570 35,844
At 31 August 2023 2,425 19,782 22,207

Included above are assets held under finance leases or hire purchase contracts with a net book value of £18,514 (2023 £12,769)

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,392 183,547
Other debtors 93,939 31,042
212,331 214,589

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,893 15,970
Hire purchase contracts (see note 8) 8,456 4,901
Trade creditors 42,551 11,680
Taxation and social security 216,796 107,196
Other creditors 6,210 3,896
291,906 143,643

Reach Studios Limited (Registered number: 07357343)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 17,893
Hire purchase contracts (see note 8) 6,869 7,505
6,869 25,398

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,456 4,901
Between one and five years 6,869 7,505
15,325 12,406

Non-cancellable operating leases
2024 2023
£    £   
Within one year 8,570 -
Between one and five years 2,457 -
11,027 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr A J Claypole
Balance outstanding at start of year - -
Amounts advanced 7,417 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,417 -

Mr T A King
Balance outstanding at start of year - -
Amounts advanced 7,416 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,416 -

Reach Studios Limited (Registered number: 07357343)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr J Ward
Balance outstanding at start of year - -
Amounts advanced 7,416 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,416 -