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REGISTERED NUMBER: 12330969 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SOUTH LANES STUDIOS LTD

SOUTH LANES STUDIOS LTD (REGISTERED NUMBER: 12330969)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


SOUTH LANES STUDIOS LTD (REGISTERED NUMBER: 12330969)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,000 10,000
Tangible assets 5 37,127 4,208
46,127 14,208

CURRENT ASSETS
Debtors 6 6,325 34
Cash at bank 663 1,020
6,988 1,054
CREDITORS
Amounts falling due within one year 7 62,232 27,028
NET CURRENT LIABILITIES (55,244 ) (25,974 )
TOTAL ASSETS LESS CURRENT LIABILITIES (9,117 ) (11,766 )

CREDITORS
Amounts falling due after more than one year 8 662 -
NET LIABILITIES (9,779 ) (11,766 )

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings (9,785 ) (11,772 )
(9,779 ) (11,766 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 29 August 2025 and were signed on its behalf by:





M R Carnie - Director


SOUTH LANES STUDIOS LTD (REGISTERED NUMBER: 12330969)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

South Lanes Studios Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12330969

Registered office: 15-17 Middle Street
The Werks
South Lanes Studios
Brighton
BN1 1AL

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover is represented by the sale of credits, memberships and studio sessions within the musical industry.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and Machinery- 25% reducing balance
Computer Equipment/Music Equipment- 5 years straight line

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current 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 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.

Going concern
Having considered the company's projected performance and expected cashflows, the directors have concluded that the company will be able to meet its liabilities as they fall due and is a going concern. As a result, these financial statements are prepared on a going concern basis.

3. EMPLOYEES

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

SOUTH LANES STUDIOS LTD (REGISTERED NUMBER: 12330969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 10,000
AMORTISATION
Charge for year 1,000
At 30 November 2024 1,000
NET BOOK VALUE
At 30 November 2024 9,000
At 30 November 2023 10,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 6,385
Additions 42,080
At 30 November 2024 48,465
DEPRECIATION
At 1 December 2023 2,177
Charge for year 9,161
At 30 November 2024 11,338
NET BOOK VALUE
At 30 November 2024 37,127
At 30 November 2023 4,208

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,056 34
Other debtors 269 -
6,325 34

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 361 -
Trade creditors 3,775 3,496
Taxation and social security 2,087 -
Other creditors 56,009 23,532
62,232 27,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 662 -