Rural Studios Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Rural Studios Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03751216 . The registered office is Packers House, 25 West Street, Hereford, HR4 0BX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Taxation

The company has an obligation to pay all taxable profits to its parent charity under gift aid.

Where payment of the company's taxable profits to the parent charity falls after the reporting date, the income tax effects of that gift aid payment are still recognised at the reporting date. The income tax effects are measured consistently with the tax treatment planned to be used in the company’s income tax filings, and a deferred tax liability is not recognised in relation to such a gift aid payment.

2.4. 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 or 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 or doubtful debts.

2.5. Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

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Rural Studios Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	264	93,548
Prepayments and accrued income	26,858	13,866

	27,122	107,414

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	20,811	25,934
Bank loans and overdrafts	5,259	5,259
VAT	21,890	27,063
Deferred income	6,300	7,750
Accruals	4,300	3,750
Amounts owed to parent undertaking	120,732	121,825

	179,292	191,581

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	5,698	10,957

Loans comprise a 6 year unsecured bounce back loan received from Barclays, to help mitigate the effects of Covid-19 on the organisation. Interest is payable at a rate of 2.5%. Capital repayments commenced in April 2022.

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

8. Related Party Transactions

Controlling party

The company is a wholly owned subsidiary of Rural Media Charity, a charitable company limited by guarantee (company no. 02732325, charity no. 1041335). Rural Media Charity made charges for contributions to production costs, wages and salaries of £49,535 (2024: £52,897) to Rural Studios. At 31 March 2025, Rural Studios owed Rural Media Charity £120,732 (2023: £117,544).

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Distributions

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Rural Studios Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Distributions made from the profit and loss account comprise donations made to the company's parent charity, Rural Media Charity. These totalled £16,746 (2024: £33,374) during the period.

11. Audit Information

The auditor's report on the accounts of Rural Studios Ltd for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by William Guy Blake ACA (Senior Statutory Auditor) for and on behalf of Godfrey Wilson Limited , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	27,122		107,414
Cash at bank and in hand		157,870		95,126

		184,992		202,540
Creditors: Amounts Falling Due Within One Year	5	(179,292 )		(191,581 )

NET CURRENT ASSETS (LIABILITIES)			5,700		10,959

TOTAL ASSETS LESS CURRENT LIABILITIES			5,700		10,959

Creditors: Amounts Falling Due After More Than One Year	6		(5,698 )		(10,957 )

NET ASSETS			2		2

CAPITAL AND RESERVES
Called up share capital	7		2		2

SHAREHOLDERS' FUNDS			2		2