SF Studios Ltd - Accounts to registrar (filleted) - small 22.3
SF Studios Ltd - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2022 |
| for |
| SF STUDIOS LTD |
| SF STUDIOS LTD (REGISTERED NUMBER: 09994971) |
| Contents of the Financial Statements |
| for the year ended 28 February 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| SF STUDIOS LTD |
| Company Information |
| for the year ended 28 February 2022 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Aissela |
| 46 High Street |
| Esher |
| Surrey |
| KT10 9QY |
| SF STUDIOS LTD (REGISTERED NUMBER: 09994971) |
| Balance Sheet |
| 28 February 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Creditors |
| Amounts falling due after more than one year |
7 |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings | 10 | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| 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. |
| 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 Board of Directors and authorised for issue on |
| SF STUDIOS LTD (REGISTERED NUMBER: 09994971) |
| Notes to the Financial Statements |
| for the year ended 28 February 2022 |
| 1. | Statutory information |
| SF Studios Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Key source of estimation, uncertainty and judgement |
| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
| 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. |
| SF STUDIOS LTD (REGISTERED NUMBER: 09994971) |
| Notes to the Financial Statements - continued |
| for the year ended 28 February 2022 |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Fixtures |
| Short | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 March 2021 |
| Additions |
| At 28 February 2022 |
| Depreciation |
| At 1 March 2021 |
| Charge for year |
| At 28 February 2022 |
| Net book value |
| At 28 February 2022 |
| At 28 February 2021 |
| 5. | Debtors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Social security and other taxes |
| Wages payable | 842 | - |
| Pension payable | 102 | 224 |
| VAT | - | 8,250 |
| Other creditors |
| Directors' current accounts | 169,514 | 162,440 |
| Accrued expenses |
| 7. | Creditors: amounts falling due after more than one year |
| 2022 | 2021 |
| £ | £ |
| Bank loans (see note 8) |
| SF STUDIOS LTD (REGISTERED NUMBER: 09994971) |
| Notes to the Financial Statements - continued |
| for the year ended 28 February 2022 |
| 7. | Creditors: amounts falling due after more than one year - continued |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 21,035 | 50,000 |
| 8. | Loans |
| An analysis of the maturity of loans is given below: |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 21,035 | 50,000 |
| During the year ended 28 February 2021, the company received a Government Bounce Back Loan. The loan is secured by the government and is recognised at amortised cost using the effective interest rate method. |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary A | £1 | 14 | 1 |
| Ordinary B | £1 | 4 | 1 |
| Ordinary C | £1 | 2 | 2 |
| 20 | 4 |
| 10. | Reserves |
| Retained |
| earnings |
| £ |
| At 1 March 2021 | ( |
) |
| Deficit for the year | ( |
) |
| At 28 February 2022 | ( |
) |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| SF Studios Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SF Studios Ltd for the year ended 28 February 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of SF Studios Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SF Studios Ltd and state those matters that we have agreed to state to the Board of Directors of SF Studios Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SF Studios Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that SF Studios Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SF Studios Ltd. You consider that SF Studios Ltd 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 financial statements of SF Studios Ltd. 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 financial statements. |
| Chartered Accountants |
| Aissela |
| 46 High Street |
| Esher |
| Surrey |
| KT10 9QY |