Registration number:
Studio 912 Limited
for the Year Ended 31 March 2025
Studio 912 Limited
(Registration number: 09737940)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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( |
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Shareholders' funds/(deficit) |
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( |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
A J B Smith
Director
Studio 912 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Accounting policies |
Statutory information
Studio 912 Limited is a private company, limited by shares, domiciled in England and Wales, company number 09737940. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Going concern
After due consideration of all relevant factors and the continued support of the shareholders, 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 annual report and accounts.
Revenue recognition
Turnover represents rental income from occupied investment properties.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Studio 912 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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1 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Investment properties |
Not depreciated |
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Fixtures and fittings |
25% straight line |
Investment property
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Investment properties |
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2025 |
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At 1 April 2024 |
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Additions |
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Fair value adjustments |
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At 31 March 2025 |
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Studio 912 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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3 |
Investment properties (continued) |
The investment properties were revalued on 31 March 2025 by the directors who are internal to the company. The basis of this valuation was existing use basis. This class of assets has a current value of £38,808,999 (2024 - £35,928,123) and a carrying amount at historical cost of £41,500,553 (2024 - £39,947,307). The depreciation on this historical cost is £Nil.
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
- |
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Creditors |
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2025 |
2024 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Taxation and social security |
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Other creditors |
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Accruals |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Bank loans |
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Amounts due to parent undertakings |
20,847,292 |
22,847,292 |
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The bank borrowings are secured by a charge over the assets of the Company.
Studio 912 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Related party transactions |
Summary of transactions with other related parties
Other debtors include an amount of £ 82,320 (2024 - £125,578) due from Daleside Estates Limited, an amount of £1,517,962 (2024 - £1,500,000) due from Me Space Limited and an amount of £10,769 due from SOFF 452 Limited, associated companies, which are interest free.
The amount due to the parent undertaking, Chelsea Estates Limited, of £ 20,847,292 (2024 - £22,847,292) included in creditors due after one year is interest free.
Studio 912 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Parent and ultimate parent undertaking |
The ultimate parent is