Registration number: 09737940

Studio 912 Limited

(Registration number: 09737940)

Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Investment property	3	39,417,785	38,808,999
Current assets
Debtors	4	1,215,616	1,651,295
Cash at bank and in hand		846,050	566,855
		2,061,666	2,218,150
Creditors: Amounts falling due within one year	5	(294,250)	(320,985)
Net current assets		1,767,416	1,897,165
Total assets less current liabilities		41,185,201	40,706,164
Creditors: Amounts falling due after more than one year	5	(40,231,931)	(40,031,831)
Net assets		953,270	674,333
Capital and reserves
Called up share capital		100	100
Retained earnings		953,170	674,233
Shareholders' funds		953,270	674,333

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Studio 912 Limited

(Registration number: 09737940)

Balance Sheet as at 31 March 2026 (continued)

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 20 May 2026 and signed on its behalf by:
 

.........................................

A J B Smith

Director

Studio 912 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	Accounting policies

Statutory information

Studio 912 Limited is a private company, limited by shares, domiciled in England and Wales, company number 09737940. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents rental income from occupied investment properties.

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.

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.

Depreciation

Asset class	Depreciation method and rate
Investment properties	Not depreciated

Studio 912 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

1	Accounting policies (continued)

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard FRS102 - Section 1A, as follows:

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2025 - 6).

3	Investment properties

	2026 £
At 1 April 2025	38,808,999
Additions	608,786
At 31 March 2026	39,417,785

The investment properties were revalued on 31 March 2026 by the directors who are internal to the company. The basis of this valuation was existing use basis. This class of assets has a current value of £39,417,785 (2025 - £38,808,999) and a carrying amount at historical cost of £42,109,339 (2025: £41,500,553). The depreciation on this historical cost is £Nil.

Studio 912 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

4

Debtors

	2026 £	2025 £
Trade debtors	-	9,630
Amounts owed by related parties	1,184,513	1,631,948
Prepayments	23,828	9,717
Other debtors	7,275	-
	1,215,616	1,651,295

5

Creditors

	2026 £	2025 £
Due within one year
Taxation and social security	57,629	50,501
Other creditors	12,750	12,750
Accruals	223,871	257,734
	294,250	320,985

Creditors: amounts falling due after more than one year

	2026 £	2025 £
Due after one year
Bank loans	19,184,539	19,184,539
Amounts due to parent undertakings	21,047,392	20,847,292
	40,231,931	40,031,831

The bank borrowings are secured by a charge over the assets of the Company.

6	Related party transactions

Summary of transactions with other related parties

Other debtors include an amount of £184,513 (2025: £82,320) due from Daleside Estates Limited, an amount of £1,000,000 (2025: £1,517,962) due from Me Space Limited and an amount of £Nil (2025: £10,769) due from SOFF 452 Limited, related companies, which are interest free.

The amount due to the parent undertaking, Chelsea Estates Limited, of £21,047,392 (2025: £20,847,292) included in creditors due after one year is interest free.

Studio 912 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

7	Parent and ultimate parent undertaking

The ultimate parent is Chelsea Estates Limited, incorporated in Guernsey.