Registration number: 04552822

SMP Studios Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 7

SMP Studios Limited

Company Information

Director

N A Wright

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

SMP Studios Limited

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	6,281	3,872
Current assets
Debtors	5	81,157	58,970
Cash at bank and in hand		94,500	79,028
		175,657	137,998
Creditors: Amounts falling due within one year	6	(111,690)	(106,185)
Net current assets		63,967	31,813
Total assets less current liabilities		70,248	35,685
Creditors: Amounts falling due after more than one year	6	-	(6,250)
Provisions for liabilities		(56)	(968)
Net assets		70,192	28,467
Capital and reserves
Called up share capital		1	1
Retained earnings		70,191	28,466
Shareholders' funds		70,192	28,467

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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director of SMP Studios Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 24 September 2025
 

.........................................

N A Wright

Director

Company registration number: 04552822

SMP Studios Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of services to the entertainment industry

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 December 2024 and had net assets at that date of £70,192.

The company has continued to trade profitably subsequent to 31 December 2024 and it is the director's expectation that this will continue.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises fees with reference to the stage of completion of the projects undertaken. Royalties are recognised in the period in which they are earned.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

SMP Studios Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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:

Asset class	Depreciation method and rate
Property improvements	Over 5 years straight line
Fixtures, fittings & equipment	Over 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

SMP Studios Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 1).

SMP Studios Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Property Improvements £	Fixtures, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	-	96,641	96,641
Additions	3,551	664	4,215
Disposals	-	(93,591)	(93,591)
At 31 December 2024	3,551	3,714	7,265
Depreciation
At 1 January 2024	-	92,769	92,769
Charge for the year	220	656	876
Eliminated on disposal	-	(92,661)	(92,661)
At 31 December 2024	220	764	984
Carrying amount
At 31 December 2024	3,331	2,950	6,281
At 31 December 2023	-	3,872	3,872

5

Debtors

	2024 £	2023 £
Trade debtors	15	2,074
Other debtors	81,142	56,896
	81,157	58,970

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Bank loans and overdrafts	7	7,187	15,000
Trade creditors		6,800	28,871
Taxation and social security		33,101	34,316
Other creditors		64,602	27,998
		111,690	106,185

SMP Studios Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Loans and borrowings	7	-	6,250

7	Loans and borrowings

	2024 £	2023 £
Current loans and borrowings
Bank loans	6,250	15,000
Bank overdrafts	937	-
	7,187	15,000

	2024 £	2023 £
Non-current loans and borrowings
Bank loans	-	6,250

Bank loans are secured by a fixed and floating charge over the assets and undertakings of the company.

8	Transactions with directors

At 31 December 2024 an amount of £71,985 (2023: £53,270) was due from the director. During the year advances of £78,259 and repayments of £60,676 were made. Interest of £1,132 (2023: £822) is payable to the company at 2.25% p.a. There are no set terms.

9	Non adjusting events after the financial period

Subsequent to 31 December 2024 dividends totalling £78,000 were declared and paid.