Hatton Street Studios Management Limited - Period Ending 2023-03-31
Hatton Street Studios Management Limited - Period Ending 2023-03-31
Registration number:
Hatton Street Studios Management Limited
for the Year Ended 31 March 2023
Hatton Street Studios Management Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Hatton Street Studios Management Limited
Company Information
Directors |
N Challis J C Cole S D Karunyanesan A R Ravanshad T Suleyman |
Registered office |
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Independent auditor |
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Hatton Street Studios Management Limited
(Registration number: 01998867)
Statement of Financial Position as at 31 March 2023
Note |
2023 |
2022 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank |
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Payables: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Equity |
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Called up share capital |
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Revenue reserve |
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Total equity |
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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 and in accordance with the provisions of FRS 102 Section 1A - small entities.
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 directors have not delivered to the registrar a copy of the Income statement.
The financial statements of Hatton Street Studios Management Limited were approved and authorised for issue by the
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Director
Hatton Street Studios Management Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023
General information |
Hatton Street Studios Management Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.
Accounting policies |
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.
Going concern
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.
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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Departures from Companies Act requirements
The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment adopted. |
Revenue recognition
Income represents variable service charge contributions receivable from leaseholders for the financial year.
Hatton Street Studios Management Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)
2 |
Accounting policies (continued) |
Tax
The company acts as a trustee in respect of funds held to manage the property at 9 Hatton Street, London, NW8 8PL. In consequence, service charge income and service charge expenditure items are neither taxable nor allowable for corporation tax purposes and therefore there is no liability to UK corporation tax. Income tax payable is provided on investment income at the current rate of tax.
Property, plant and equipment
Property, plant and equipment represents Freehold land which is stated as a nominal value of £1. No depreciation is provided on freehold land.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at the bank and are subject to an insignificant risk of change in value.
Receivables
Service charge arrears are amounts due at the financial year end from the leaseholders in respect of demands raised.
Accrued service charge contributions represents service charge deficits to be recharged to the leaseholders.
Payables
Payables 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 the 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.
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.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hatton Street Studios Management Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)
Property, plant and equipment |
Freehold land |
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Cost |
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At 1 April 2022 |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Receivables |
2023 |
2022 |
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Service charge arrears |
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Other debtors |
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Prepayments and accrued income |
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Cash and cash equivalents |
2023 |
2022 |
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Cash at bank |
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Payables |
2023 |
2022 |
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Due within one year |
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Service charge payables - unpaid invoices |
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Service charge surplus to be credited to lessees |
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Service charge receipts in advance |
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Accrued expenses |
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Deferred income - advance service charges |
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Hatton Street Studios Management Limited
Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)
Audit report |
Share capital and reserves |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Reserves |
Revenue reserve |
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£ |
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At 1 April 2022 |
39,994 |
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Reserve expenditure |
- |
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At 31 March 2023 |
39,994 |
Revenue reserve
The revenue reserve represents cumulative surpluses or deficits.