Harley Street Studio Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12972976 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Harley Street Studio Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

2,542,483

2,701,339

Tangible assets

5

238,081

149,463

2,780,564

2,850,802

CURRENT ASSETS

Stocks

24,500

Debtors

6

191,685

195,055

Cash at bank

448,769

502,431

664,954

721,986

CREDITORS

Amounts falling due within one year

7

767,800

968,482

NET CURRENT LIABILITIES

(102,846

)

(246,496

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,677,718

2,604,306

CREDITORS

Amounts falling due after more than one
year

8

87,656

37,918

NET ASSETS

2,590,062

2,566,388

CAPITAL AND RESERVES

Called up share capital

9

203

Share premium

10

2,224,812

Retained earnings

10

365,047

341,373

SHAREHOLDERS' FUNDS

2,590,062

2,566,388

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 director acknowledges her 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 director and authorised for issue on 23 December 2025 and were signed by:

Dr A R Thorne - Director

1.	STATUTORY INFORMATION

Harley Street Studio Limited 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:

12972976

Registered office:

C/o Echo Tax, SPACES Manchester

Peter House

Oxford Street

Manchester

M1 5AN

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.

Goodwill

Franchise costs, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

costs

£

COST

At 1 April 2024

and 31 March 2025

3,177,121

AMORTISATION

At 1 April 2024

475,782

Amortisation for year

158,856

At 31 March 2025

634,638

NET BOOK VALUE

At 31 March 2025

2,542,483

At 31 March 2024

2,701,339

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

228,072

-

228,072

Additions

62,603

84,900

18,612

166,115

At 31 March 2025

290,675

84,900

18,612

394,187

DEPRECIATION

At 1 April 2024

78,609

-

78,609

Charge for year

68,403

8,490

604

77,497

At 31 March 2025

147,012

8,490

604

156,106

NET BOOK VALUE

At 31 March 2025

143,663

76,410

18,008

238,081

At 31 March 2024

149,463

-

149,463

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Called up share capital not paid

100

Prepayments and accrued income

191,585

194,955

191,685

195,055

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts

21,881

12,298

Trade creditors

416,964

395,264

Amounts owed to associates

65,207

90,207

Tax

(2,204

)

127,029

Social security and other taxes

14,275

12,475

Pension

-

1,365

Credit card

2,147

-

Wage control

-

36,843

Directors' current accounts

5,951

3,823

Deferred income

238,779

267,359

Accrued expenses

4,800

21,819

767,800

968,482

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Hire purchase contracts

87,656

37,918

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

200

Ordinary

£1

200

1

Ordinary A

£1

1

Ordinary B

£1

1

Ordinary C

£1

1

203

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 April 2024

341,373

2,224,812

2,566,185

Profit for the year

983,674

Dividends

(960,000

)

(960,000

)

At 31 March 2025

365,047

2,224,812

2,589,859

11.	CONTINGENT LIABILITIES

The company has provided a mortgage debenture to Lloyds Bank plc dated 1 September 2022 containing a fixed and floating charge over all property and / or undertakings of the company.

The company has also entered into a cross party guarantee with Hemmerling Estates Limited dated 1 September2022 in favor of Lloyds Bank plc.

Total amounts outstanding at the year end in relation to the mortgage debenture and guarantee are

£5,247,861.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr A R Thorne.