Silverfin false false 31/12/2024 01/01/2024 31/12/2024 F Blanchot 27/07/2022 S G K Casely-Hayford 10/12/2013 07 August 2025 The principal activity of the company during the year was interior design. 08808609 2024-12-31 08808609 bus:Director1 2024-12-31 08808609 bus:Director2 2024-12-31 08808609 2023-12-31 08808609 core:CurrentFinancialInstruments 2024-12-31 08808609 core:CurrentFinancialInstruments 2023-12-31 08808609 core:ShareCapital 2024-12-31 08808609 core:ShareCapital 2023-12-31 08808609 core:RetainedEarningsAccumulatedLosses 2024-12-31 08808609 core:RetainedEarningsAccumulatedLosses 2023-12-31 08808609 core:LeaseholdImprovements 2023-12-31 08808609 core:OfficeEquipment 2023-12-31 08808609 core:LeaseholdImprovements 2024-12-31 08808609 core:OfficeEquipment 2024-12-31 08808609 bus:OrdinaryShareClass1 2024-12-31 08808609 core:WithinOneYear 2024-12-31 08808609 core:WithinOneYear 2023-12-31 08808609 core:BetweenOneFiveYears 2024-12-31 08808609 core:BetweenOneFiveYears 2023-12-31 08808609 2024-01-01 2024-12-31 08808609 bus:FilletedAccounts 2024-01-01 2024-12-31 08808609 bus:SmallEntities 2024-01-01 2024-12-31 08808609 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08808609 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08808609 bus:Director1 2024-01-01 2024-12-31 08808609 bus:Director2 2024-01-01 2024-12-31 08808609 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 08808609 core:OfficeEquipment 2024-01-01 2024-12-31 08808609 2023-01-01 2023-12-31 08808609 core:LeaseholdImprovements 2024-01-01 2024-12-31 08808609 core:LeaseholdImprovements 1 2024-01-01 2024-12-31 08808609 core:OfficeEquipment 1 2024-01-01 2024-12-31 08808609 1 2024-01-01 2024-12-31 08808609 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08808609 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08808609 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08808609 (England and Wales)

STUDIO ASHBY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

STUDIO ASHBY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

STUDIO ASHBY LIMITED

BALANCE SHEET

As at 31 December 2024
STUDIO ASHBY LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 90,940 64,090
90,940 64,090
Current assets
Stocks 74,366 74,366
Debtors 4 1,104,938 516,843
Cash at bank and in hand 1,349,378 1,392,131
2,528,682 1,983,340
Creditors: amounts falling due within one year 5 ( 1,622,172) ( 1,075,913)
Net current assets 906,510 907,427
Total assets less current liabilities 997,450 971,517
Provision for liabilities 6 ( 20,238) ( 13,568)
Net assets 977,212 957,949
Capital and reserves
Called-up share capital 7 85 85
Profit and loss account 977,127 957,864
Total shareholders' funds 977,212 957,949

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Studio Ashby Limited (registered number: 08808609) were approved and authorised for issue by the Board of Directors on 07 August 2025. They were signed on its behalf by:

S G K Casely-Hayford
Director
STUDIO ASHBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
STUDIO ASHBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Studio Ashby Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Blewcoat, 23 Caxton Street, London, SW1H 0PY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes all costs of purchase, import duties, transport, handling, and any other costs directly attributable to bringing the inventory to its present location and condition. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 17

3. Tangible assets

Leasehold improve-
ments
Office equipment Total
£ £ £
Cost
At 01 January 2024 87,123 112,964 200,087
Additions 0 51,197 51,197
Disposals ( 13,986) 0 ( 13,986)
Impaired asset disposal ( 46,730) 0 ( 46,730)
At 31 December 2024 26,407 164,161 190,568
Accumulated depreciation
At 01 January 2024 72,278 63,719 135,997
Charge for the financial year 5,287 19,061 24,348
Impairment losses ( 46,730) 0 ( 46,730)
Disposals ( 13,987) 0 ( 13,987)
At 31 December 2024 16,848 82,780 99,628
Net book value
At 31 December 2024 9,559 81,381 90,940
At 31 December 2023 14,845 49,245 64,090

4. Debtors

2024 2023
£ £
Trade debtors 297,823 210,985
Other debtors 807,115 305,858
1,104,938 516,843

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 80,657 34,601
Corporation tax 124,735 82,065
Other taxation and social security 150,372 66,245
Other creditors 1,266,408 893,002
1,622,172 1,075,913

6. Provision for liabilities

2024 2023
£ £
Deferred tax 20,238 13,568

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
85 Ordinary shares of £ 1.00 each 85 85

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 109,965 114,661
between one and five years 81,000 190,965
190,965 305,626

£189,000 of the commitment shown above is in relation to non-cancellable operating leases over business premises (2023-£297,000).

£1,965 of the commitment shown above is in relation to non-cancellable operating leases of a leased vehicle (2023-£8,626) .

9. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.

Transactions with the entity's directors

Advances

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rate.

At 1 January 2024, the balance due from the director was £nil. During the year, £37,425 was advanced to the director, and £37,036 was repaid by the director. At 31 December 2024 the balance due from the director was £389.

At 1 January 2023, the balance due from the director was £139,996. During the year, £199,320 was advanced to the director, and £339,316 was repaid by the director. At 31 December 2023 the balance due from the director was £nil.

10. Ultimate controlling party

Parent Company:

Studio Ashby Holdings LimitedIncorporated in England and Wales.
Registered office is Lupin Way, Yeovil, Somerset, United Kingdom, BA22 8WW

These financial statements are available upon request from Companies House, Cardiff.