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Registration number: 05256344

Second Home Studios Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2025

Second Home Studios Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 8

Second Home Studios Limited

Company Information

Director | Christopher Randall

Registered office | Second Home Studios 26 Oxford St Birmingham B5 5NR

Accountants | Bissell & Brown (Midlands) Limited Chartered Certified Accountants Charter House 56 High Street Sutton Coldfield B72 1UJ

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Second Home Studios Limited
for the Year Ended 30 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Second Home Studios Limited for the year ended 30 September 2025 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Second Home Studios Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Second Home Studios Limited and state those matters that we have agreed to state to the Board of Directors of Second Home Studios Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Second Home Studios Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Second Home Studios Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Second Home Studios Limited. You consider that Second Home Studios Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Second Home Studios Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Bissell & Brown (Midlands) Limited
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
B72 1UJ

15 December 2025

Second Home Studios Limited

(Registration number: 05256344)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 170,222 | 212,676
Current assets |  |  |
Debtors | 5 | 97,270 | 59,051
Cash at bank and in hand |  | 116,355 | 6,936
|  | 213,625 | 65,987
Creditors: Amounts falling due within one year | 6 | (154,669) | (111,750)
Net current assets/(liabilities) |  | 58,956 | (45,763)
Total assets less current liabilities |  | 229,178 | 166,913
Creditors: Amounts falling due after more than one year | 6 | (50,000) | (166,667)
Net assets |  | 179,178 | 246
Capital and reserves |  |  |
Called up share capital | 8 | 25,357 | 2
Share premium reserve |  | 196,289 | -
Retained earnings |  | (42,468) | 244
Shareholders' funds |  | 179,178 | 246

For the financial year ending 30 September 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 year 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 director has not delivered to the registrar a copy of the directors' report and the Profit and Loss Account.

Approved and authorised by the director on 15 December 2025

......................................... Christopher Randall Director

Second Home Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1 | General information

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

The address of its registered office is:
Second Home Studios
26 Oxford St
Birmingham
B5 5NR

These financial statements were authorised for issue by the director on 15 December 2025.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

Notwithstanding net trading losses of £53,487 (2024: £151,675), the company had net assets of £179,178 (2024: £246) at the balance sheet date. Accordingly, the financial statements have been prepared on a going concern basis.
The Directors have considered the company’s working capital cycle, forthcoming investment requirements, and expected income and expenditure. They are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than 12 months from the date of approval of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Second Home Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2 | Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the balance 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
Equipment | 33.3 % per annum of net book value
Leasehold Improvements | 10% 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.

Trade 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.

Trade 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Second Home Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2 | Accounting policies (continued)

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 13).

4 | Tangible assets

| Furniture, fittings and equipment £ | Leasehold improvements £ | Total £
Cost or valuation
At 1 October 2024 | 231,854 | 169,884 | 401,738
At 30 September 2025 | 231,854 | 169,884 | 401,738
Depreciation
At 1 October 2024 | 155,378 | 33,684 | 189,062
Charge for the year | 25,466 | 16,988 | 42,454
At 30 September 2025 | 180,844 | 50,672 | 231,516
Carrying amount
At 30 September 2025 | 51,010 | 119,212 | 170,222
At 30 September 2024 | 76,476 | 136,200 | 212,676

5 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 10,337 | 20,820
Amounts owed by related parties |  | 30,775 | -
Prepayments |  | 22,962 | -
Other debtors |  | 33,196 | 38,231
|  | 97,270 | 59,051

Second Home Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 6.1 | 88,237 | 30,475
Trade creditors |  | 38,911 | 55,987
Taxation and social security |  | 10,845 | 17,330
Accruals and deferred income |  | 16,676 | 7,958
|  | 154,669 | 111,750

6.1 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 11,667 | 20,476
Other borrowings | 76,570 | 9,999
| 88,237 | 30,475

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 50,000 | 166,667

Other borrowings

Loan from Midlands Engine Investment Fund is denominated in £ with a nominal interest rate of 8%%, and the final instalment is due on 30 June 2027. The carrying amount at year end is £116,667 (2024 - £166,867). Holds a fixed charged dated 05.08.2022 over all property or undertaking of the company.

7 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 42,000 | 42,000
Later than one year and not later than five years | 168,000 | 168,000
Later than five years | 84,000 | 126,000
| 294,000 | 336,000

Second Home Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

7 | Obligations under leases and hire purchase contracts (continued)

The amount of non-cancellable operating lease payments recognised as an expense during the year was £42,000 (2024 - £42,000).

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
A Ordinary Shares of £1 each | 1,546 | 1,546 | 2 | 2
B Ordinary Shares of £1 each | 20,100 | 20,100 | - | -
C Ordinary shares of £1 each | 3,711 | 3,711 | - | -
| 25,357 | 25,357 | 2 | 2

On 16th September 2025 the company issued 3,799 new C ordinary shares of £1 each at a price per share of £57.93, this resulted in a total share premium of 196,289.
During the year, the company issued a bonus issue of 20,000 £1 B ordinary shares, which was funded through the utilisation of the share premium reserve