Brownhill Farm Studios Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03212688 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BROWNHILL FARM STUDIOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R O Trunz

N T Trunz

REGISTERED OFFICE:

C/O Galloways Accounting

The Mill Building

31-35 Chatsworth Road

Worthing

West Sussex

BN11 1LY

REGISTERED NUMBER:

03212688 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

2,890

170

Tangible assets

5

493

657

3,383

827

CURRENT ASSETS

Stocks

6

6,750

Cash at bank

438

1,608

7,188

8,358

CREDITORS

Amounts falling due within one year

7

(52,509

)

(48,593

)

NET CURRENT LIABILITIES

(45,321

)

(40,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,938

)

(39,408

)

CREDITORS

Amounts falling due after more than one year

8

(545,966

)

(526,525

)

NET LIABILITIES

(587,904

)

(565,933

)

CAPITAL AND RESERVES

Called up share capital

2,000,000

Retained earnings

(2,587,904

)

(2,565,933

)

SHAREHOLDERS' FUNDS

(587,904

)

(565,933

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 20 June 2025 and were signed on its behalf by:

R O Trunz - Director

1.	STATUTORY INFORMATION

Brownhill Farm 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.

As shown by the company's balance sheet its assets are exceeded by its liabilities. However the main creditor is the company director and shareholder. Therefore the director is of the opinion that it is appropriate for these accounts to be prepared on a going concern basis.

Turnover

Turnover represents sales of services and is recognised at the point the customer is entitled to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 October 2023

170

Additions

2,720

At 30 September 2024

2,890

NET BOOK VALUE

At 30 September 2024

2,890

At 30 September 2023

170

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2023

and 30 September 2024

4,335

DEPRECIATION

At 1 October 2023

3,678

Charge for year

164

At 30 September 2024

3,842

NET BOOK VALUE

At 30 September 2024

493

At 30 September 2023

657

6.

STOCKS

2024

2023

£

Stocks

6,750

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

-

402

Amounts owed to associates

46,960

47,230

Directors' loan accounts

4,469

-

Accrued expenses

1,080

961

52,509

48,593

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Directors' loan accounts

545,966

526,525

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024

2023

£

R O Trunz

Balance outstanding at start of year

(526,435

)

(517,538

)

Amounts repaid

(19,530

)

(8,897

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(545,965

)

(526,435

)

N T Trunz

Balance outstanding at start of year

(90

)

(90

)

Amounts advanced

9,360

-

Amounts repaid

(13,739

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(4,469

)

(90

)

During the year, R Trunz increased his long term loan to the company. As at 30 September 2024, the company owed him £545,966 (2023: £526,435). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, N Trunz increased his loan to the company. As at 30 September 2024, the company owed him £4,469 (2023: £90). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is R O Trunz.

This was by virtue of his 75% holding of the issued share capital.