| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Period 1 April 2023 to 26 March 2024 |
| for |
| The Soho Studio Project Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Period 1 April 2023 to 26 March 2024 |
| for |
| The Soho Studio Project Ltd |
| The Soho Studio Project Ltd (Registered number: 10716531) |
| Contents of the Financial Statements |
| For The Period 1 April 2023 to 26 March 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| The Soho Studio Project Ltd |
| Company Information |
| For The Period 1 April 2023 to 26 March 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Mill House |
| 58 Guildford Street |
| Chertsey |
| Surrey |
| KT16 9BE |
| The Soho Studio Project Ltd (Registered number: 10716531) |
| Balance Sheet |
| 26 March 2024 |
| 26.3.24 | 31.3.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| RESERVES |
| Retained earnings | ( |
) | ( |
) |
| MEMBERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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 were approved by the director and authorised for issue on |
| The Soho Studio Project Ltd (Registered number: 10716531) |
| Notes to the Financial Statements |
| For The Period 1 April 2023 to 26 March 2024 |
| 1. | STATUTORY INFORMATION |
| The Soho Studio Project Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| Although the company is insolvent, the accounts are prepared on a going concern basis as it is the directors' view that the company can meet its obligations for the foreseeable future. |
| Turnover |
| Turnover represents the rental and service income arising from the use of the premises provided by the company to its customers. Income is recognised on a time- elapsed basis where rental cover longer periods. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| The Company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
| Taxation |
| Taxation represents the sum of tax currently payable, and deferred tax if material. |
| 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, where material, is recognised on all 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. 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. |
| Leasing commitments |
| Rentals payable under operating lease agreements are charged to the profit and loss account evenly over the life of the leases. |
| The Soho Studio Project Ltd (Registered number: 10716531) |
| Notes to the Financial Statements - continued |
| For The Period 1 April 2023 to 26 March 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors |
| Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
| Cash at bank and in hand |
| Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
| Creditors |
| Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2023 - |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2023 |
| and 26 March 2024 |
| DEPRECIATION |
| At 1 April 2023 |
| Charge for period |
| At 26 March 2024 |
| NET BOOK VALUE |
| At 26 March 2024 |
| At 31 March 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 26.3.24 | 31.3.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 2,025 | - |
| VAT |
| Prepayments |
| The Soho Studio Project Ltd (Registered number: 10716531) |
| Notes to the Financial Statements - continued |
| For The Period 1 April 2023 to 26 March 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 26.3.24 | 31.3.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | - | 4,974 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 26.3.24 | 31.3.23 |
| £ | £ |
| Bank loans |
| 8. | OTHER FINANCIAL COMMITMENTS |
| At 31st March 2024, the company had total commitments under non-cancellable operating leases over the |
| remaining life of those leases of £643,750. |