REGISTERED NUMBER: 03867514 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

LH2 Studios Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr David Peter Ridgway

Mrs Philippa Jill Ridgway

Mr Samuel Peter Ridgway

Ms Ellen Amy Ridgway

SECRETARY:

Mrs Philippa Jill Ridgway

REGISTERED OFFICE:

Light House

Western Road

London

NW10 7LT

REGISTERED NUMBER:

03867514 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,395,506

6,560,877

6,395,506

6,560,877

CURRENT ASSETS

Debtors

6

189,745

197,132

Cash at bank and in hand

1,464,324

1,515,274

1,654,069

1,712,406

CREDITORS

Amounts falling due within one year

7

(207,421

)

(193,064

)

NET CURRENT ASSETS

1,446,648

1,519,342

TOTAL ASSETS LESS CURRENT LIABILITIES

7,842,154

8,080,219

PROVISIONS FOR LIABILITIES

(697,822

)

(696,094

)

NET ASSETS

7,144,332

7,384,125

CAPITAL AND RESERVES

Called up share capital

8

5,000,000

5,000,000

Revaluation reserve

2,056,536

2,056,536

Retained earnings

87,796

327,589

SHAREHOLDERS' FUNDS

7,144,332

7,384,125

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

Mr David Peter Ridgway - Director

Mrs Philippa Jill Ridgway - Director

1.	STATUTORY INFORMATION

LH2 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts have been prepared on a going concern basis. The directors are of the opinion that there are no going concern issues.

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents net invoiced sales of services to third parties, excluding value added tax.

Revenue recognition

The company only recognises profits (revenue less related direct cost) on time apportionment basis for transactions that straddle over two accounting periods.

Intangible fixed assets

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

Website cost is amortised evenly over its estimated useful life.

Tangible fixed assets

In respect of all material assets that is those that have profound impact on the results of the company, the following accounting policies are applied to those assets only and are as follows:

There are no material differences in the market value of the revalued assets as at 31 March 2025.

Plant and machinery is depreciated over its useful life at varying rate on straight line basis.

Depreciation on the above items is provided on monthly basis, including on the items purchased or sold during the year.

Depreciation and amortisation is provided at the following annual rates on monthly basis.

Long leasehold land

-

Over the period of the lease

Plant and machinery

-

At varying rate depending on the life of the assets

Fixtures and fittings

-

Straight line over 7 years

Computer equipment

-

Straight line over 7 years

Website

-

Straight line over 3 years

Current tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred Tax

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements, except that:

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

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the HM Revenue & Customs month end guided rate. Exchange differences are recognised in the Profit & Loss Account.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Pension costs and other post-retirement benefits

The company is contributing pension, administered by an independent pension provider, for its key employees as part of the commercial arrangements. The company itself is not administering any pension scheme for the benefit of its employees and directors.

Bad debts

Any debt outstanding for a period of greater than six months is treated as bad debt.

Payment to suppliers

It is the policy of the company to pay all the suppliers promptly on agreed terms of payments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 April 2024

and 31 March 2025

9,180

AMORTISATION

At 1 April 2024

and 31 March 2025

9,180

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

7,702,451

32,974

112,204

10,076

7,857,705

Additions

-

1,461

-

443

1,904

At 31 March 2025

7,702,451

34,435

112,204

10,519

7,859,609

DEPRECIATION

At 1 April 2024

1,202,359

19,436

72,877

2,156

1,296,828

Charge for year

153,391

3,555

8,889

1,440

167,275

At 31 March 2025

1,355,750

22,991

81,766

3,596

1,464,103

NET BOOK VALUE

At 31 March 2025

6,346,701

11,444

30,438

6,923

6,395,506

At 31 March 2024

6,500,092

13,538

39,327

7,920

6,560,877

The long leasehold property was acquired from its former parent company on 26 November 2015 at its net book value and was revalued in March 2017 to reflect its fair market value by the directors.

If long leasehold had not been revalued it would have been included at the following historical cost:

31/03/25

£

Cost

23,808

Aggregate depreciation

3,042

20,766

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

70,155

117,219

VAT

-

67,921

Prepayments and accrued income

119,590

11,992

189,745

197,132

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

38,756

48,854

Social security and other taxes

40,262

2,071

VAT

3,671

-

Other creditors

917

12,616

Directors' current accounts

7,262

7,261

Accruals and deferred income

116,553

122,262

207,421

193,064

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

5,000,000

Ordinary

1

5,000,000

5,000,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review there were no transactions between LH2 Studios Limited and its directors, Mr D P Ridgway, Mrs P J Ridgway, Mr S P Ridgway and Ms E A Ridgway.

10.	RELATED PARTY DISCLOSURES