REGISTERED NUMBER: 10716531 (England and Wales)

Unaudited Financial Statements For The Year Ended 26 March 2025

for

The Soho Studio Project Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N J Hartwright

REGISTERED OFFICE:

c/o The Factory Project Ltd

4 Thameside Industrial Estate

Factory Road

London

E16 2HB

REGISTERED NUMBER:

10716531 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

CURRENT ASSETS

Debtors

5

400,501

455,264

Cash at bank

1,247

9,036

401,748

464,300

CREDITORS

Amounts falling due within one year

6

710,803

728,234

NET CURRENT LIABILITIES

(309,055

)

(263,934

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(309,055

)

(263,934

)

CREDITORS

Amounts falling due after more than one year

7

24,636

30,193

NET LIABILITIES

(333,691

)

(294,127

)

RESERVES

Retained earnings

(333,691

)

(294,127

)

MEMBERS' FUNDS

(333,691

)

(294,127

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 July 2026 and were signed by:

N J Hartwright - Director

1.	STATUTORY INFORMATION

The Soho Studio Project Ltd is a private company, limited by guarantee , 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.

Going concern

Although the company is insolvent, the accounts are prepared on a going concern basis as it is the directors' view that the company can meet its obligations for the foreseeable future.

Turnover

Turnover represents the rental and service income arising from the use of the premises provided by the company to its customers. Income is recognised on a time- elapsed basis where rental cover longer periods.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Financial instruments

The Company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Leasing commitments

Rentals payable under operating lease agreements are charged to the profit and loss account evenly over the life of the leases.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 27 March 2024

and 26 March 2025

108,230

3,741

2,141

114,112

DEPRECIATION

At 27 March 2024

and 26 March 2025

108,230

3,741

2,141

114,112

NET BOOK VALUE

At 26 March 2025

-

-

-

-

At 26 March 2024

-

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

26.3.25

26.3.24

£

£

Trade debtors

11,277

7,350

Other debtors

367,567

369,295

Directors' current accounts

21,657

2,025

VAT

-

13,132

Prepayments

-

63,462

400,501

455,264

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

26.3.25

26.3.24

£

£

Bank loans and overdrafts

5,426

5,162

Trade creditors

93,077

100,248

Social security and other taxes

-

8,552

VAT

188

-

Other creditors

423,621

402,860

Accruals and deferred income

188,491

211,412

710,803

728,234

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

26.3.25

26.3.24

£

£

Bank loans

24,636

30,193

8.	OTHER FINANCIAL COMMITMENTS

At 31st March 2025, the company had no commitments under non-cancellable operating leases over the remaining life of those leases (2024: £643,750).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 26 March 2025 and the period ended 26 March 2024:

26.3.25

26.3.24

£

£

N J Hartwright

Balance outstanding at start of year

2,025

-

Amounts advanced

19,632

2,025

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,657

2,025