REGISTERED NUMBER: 13694818 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

12:42 Studios Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Yorke

S Molyneux

Mr A J Davies

REGISTERED OFFICE:

The Technology Hub

Grange Avenue

Telford

Shropshire

TF3 1FA

REGISTERED NUMBER:

13694818 (England and Wales)

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Tangible assets

4

11,310

11,114

CURRENT ASSETS

Stocks

5

10,662

10,800

Debtors

6

44,337

19,446

Cash at bank and in hand

22,633

39,616

77,632

69,862

CREDITORS

Amounts falling due within one year

7

17,563

33,569

NET CURRENT ASSETS

60,069

36,293

TOTAL ASSETS LESS CURRENT LIABILITIES

71,379

47,407

PROVISIONS FOR LIABILITIES

2,997

2,112

NET ASSETS

68,382

45,295

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

68,282

45,195

SHAREHOLDERS' FUNDS

68,382

45,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

M Yorke - Director

1.	STATUTORY INFORMATION

12:42 Studios Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

50% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 April 2024

-

23,295

23,295

Additions

4,866

1,789

6,655

At 31 March 2025

4,866

25,084

29,950

DEPRECIATION

At 1 April 2024

-

12,181

12,181

Charge for year

514

5,945

6,459

At 31 March 2025

514

18,126

18,640

NET BOOK VALUE

At 31 March 2025

4,352

6,958

11,310

At 31 March 2024

-

11,114

11,114

5.

STOCKS

31.3.25

31.3.24

£

£

Work-in-progress

10,662

10,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

42,926

17,419

Other debtors

-

848

Prepayments

1,411

1,179

44,337

19,446

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

577

30,151

Tax

7,886

159

VAT

8,090

1,848

Other creditors

221

652

Accrued expenses

789

759

17,563

33,569

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES