Lumen Studios Ltd 15514742 false 2024-02-22 2025-03-31 2025-03-31 The principal activity of the company is consultancy Digita Accounts Production Advanced 6.30.9574.0 true true 15514742 2024-02-22 2025-03-31 15514742 2025-03-31 15514742 core:CurrentFinancialInstruments 2025-03-31 15514742 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 15514742 core:OtherResidualIntangibleAssets 2025-03-31 15514742 core:FurnitureFittings 2025-03-31 15514742 core:OfficeEquipment 2025-03-31 15514742 core:ParentEntities 2025-03-31 15514742 bus:SmallEntities 2024-02-22 2025-03-31 15514742 bus:AuditExemptWithAccountantsReport 2024-02-22 2025-03-31 15514742 bus:FilletedAccounts 2024-02-22 2025-03-31 15514742 bus:SmallCompaniesRegimeForAccounts 2024-02-22 2025-03-31 15514742 bus:RegisteredOffice 2024-02-22 2025-03-31 15514742 bus:Director1 2024-02-22 2025-03-31 15514742 bus:PrivateLimitedCompanyLtd 2024-02-22 2025-03-31 15514742 core:IntangibleAssetsOtherThanGoodwill 2024-02-22 2025-03-31 15514742 core:OtherResidualIntangibleAssets 2024-02-22 2025-03-31 15514742 core:FurnitureFittings 2024-02-22 2025-03-31 15514742 core:OfficeEquipment 2024-02-22 2025-03-31 15514742 core:ParentEntities 2024-02-22 2025-03-31 15514742 countries:EnglandWales 2024-02-22 2025-03-31 iso4217:GBP xbrli:pure

Registration number: 15514742

Lumen Studios Ltd
Annual Report and Unaudited Financial Statements
for the Period from 22 February 2024 to 31 March 2025

Lumen Studios Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Lumen Studios Ltd

Company Information

Director | Metaversal Ventures Inc

Registered office | 23A Belsize Avenue Belsize Park London NW3 4BL

Lumen Studios Ltd

(Registration number: 15514742)
Balance Sheet as at 31 March 2025

| Note | 2025 £
Current assets |  |
Debtors | 6 | 43,896
Cash at bank and in hand |  | 19,161
|  | 63,057
Creditors: Amounts falling due within one year | 7 | (274,380)
Net liabilities |  | (211,323)
Capital and reserves |  |
Called up share capital |  | 1
Retained earnings |  | (211,324)
Shareholders' deficit |  | (211,323)

For the financial period ending 31 March 2025 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 period in question in accordance with section 476; and
• | The director acknowledges 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 November 2025

......................................... Metaversal Ventures Inc Director |  |

Lumen Studios Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2024 to 31 March 2025

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:
23A Belsize Avenue
Belsize Park
London
NW3 4BL

2 | Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The company ceased to trade on 31 March 2025. The financial statements have therefore been prepared using the break-up basis and all assets have been written down to recoverable amounts.

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, returns, rebates and discounts.The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

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.

Lumen Studios Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2024 to 31 March 2025

Tangible assets

Tangible assets are stated in the balane 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.

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
Fixtures & fittings | 25% reducing balance
Office equipment | 25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Other intangibles | Over 10 years

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Lumen Studios Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2024 to 31 March 2025

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 profit and loss account 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

Lumen Studios Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2024 to 31 March 2025

4 | Intangible assets

| Other intangibles £ | Total £
Cost or valuation
Additions | 4,500 | 4,500
At 31 March 2025 | 4,500 | 4,500
Amortisation
Amortisation charge | 488 | 488
Impairment | 4,012 | 4,012
At 31 March 2025 | 4,500 | 4,500
Carrying amount
At 31 March 2025 | - | -

5 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Total £
Cost or valuation
Additions | 302 | 1,900 | 2,202
At 31 March 2025 | 302 | 1,900 | 2,202
Depreciation
Charge for the period | 108 | 679 | 787
Impairment | 194 | 1,221 | 1,415
At 31 March 2025 | 302 | 1,900 | 2,202
Carrying amount
At 31 March 2025 | - | - | -

6 | Debtors

Current | 2025 £
Other debtors | 43,896
| 43,896

Lumen Studios Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2024 to 31 March 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £
Due within one year |  |
Loans and borrowings | 8 | 271,866
Accruals and deferred income |  | 2,514
|  | 274,380

8 | Loans and borrowings

Current loans and borrowings

| 2025 £
Other borrowings | 271,866

9 | Related party transactions

Summary of transactions with parent

Metaversal Ventures Inc

Loans to related parties

2025 | Parent £ | Total £
Advanced | 271,866 | 271,866
At end of period | 271,866 | 271,866