Cancelling student accommodation

Hey,

I've recently put a deposit down to live in Liberty Quay Studios starting from September (I will then be in third year)... However, due to personal circumstances I've figured I will no longer be able to afford it and would like to cancel my booking in advance. Is anyone able to tell me if this is possible? And will they still expect me to pay for the whole year even though I haven't moved in yet? Any info will be greatly appreciated

Cheers