Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312021-04-01falseThe pricipal activity of the company continued to be that of operating a bar and restaurant.78truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06764997 2021-04-01 2022-03-31 06764997 2020-04-01 2021-03-31 06764997 2022-03-31 06764997 2021-03-31 06764997 c:Director1 2021-04-01 2022-03-31 06764997 d:Buildings d:LongLeaseholdAssets 2021-04-01 2022-03-31 06764997 d:Buildings d:LongLeaseholdAssets 2022-03-31 06764997 d:Buildings d:LongLeaseholdAssets 2021-03-31 06764997 d:FurnitureFittings 2021-04-01 2022-03-31 06764997 d:FurnitureFittings 2022-03-31 06764997 d:FurnitureFittings 2021-03-31 06764997 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 06764997 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 06764997 d:CurrentFinancialInstruments 2022-03-31 06764997 d:CurrentFinancialInstruments 2021-03-31 06764997 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06764997 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 06764997 d:ShareCapital 2022-03-31 06764997 d:ShareCapital 2021-03-31 06764997 d:RetainedEarningsAccumulatedLosses 2022-03-31 06764997 d:RetainedEarningsAccumulatedLosses 2021-03-31 06764997 c:OrdinaryShareClass1 2021-04-01 2022-03-31 06764997 c:OrdinaryShareClass1 2022-03-31 06764997 c:OrdinaryShareClass1 2021-03-31 06764997 c:FRS102 2021-04-01 2022-03-31 06764997 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 06764997 c:FullAccounts 2021-04-01 2022-03-31 06764997 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 06764997












THE PIPELINE ENTERTAINMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

 

THE PIPELINE ENTERTAINMENTS LTD

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8



 
REGISTERED NUMBER:06764997
THE PIPELINE ENTERTAINMENTS LTD

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
31,510
35,891

  
31,510
35,891

Current assets
  

Stocks
  
2,903
2,230

Debtors: amounts falling due within one year
 5 
13,657
12,431

Bank and cash balances
  
55,763
27,035

  
72,323
41,696

Creditors: amounts falling due within one year
 6 
(41,617)
(47,214)

Net current assets/(liabilities)
  
 
 
30,706
 
 
(5,518)

Total assets less current liabilities
  
62,216
30,373

  

Net assets
  
62,216
30,373


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
62,116
30,273

  
62,216
30,373


Page 1


 
REGISTERED NUMBER:06764997
THE PIPELINE ENTERTAINMENTS LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2022.




Thomas Evrenos
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

The Pipeline Entertainments Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

evenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. evenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

evenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over 16 Years
Fixtures and fittings
-
20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and estimated selling price.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Page 4

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

  
2.9

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Page 5

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

  
2.10

Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Page 6

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2021 - 8).


4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost 


At 1 April 2021
45,000
14,814
59,814


Additions
-
724
724



At 31 March 2022

45,000
15,538
60,538



Depreciation


At 1 April 2021
14,063
9,860
23,923


Charge for the year
2,812
2,293
5,105



At 31 March 2022

16,875
12,153
29,028



Net book value



At 31 March 2022
28,125
3,385
31,510



At 31 March 2021
30,937
4,954
35,891

Page 7

 

THE PIPELINE ENTERTAINMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Other debtors
13,657
12,431

13,657
12,431



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
3,776
2,873

Other taxation and social security
4,253
1,407

Other creditors
31,588
40,934

Accruals and deferred income
2,000
2,000

41,617
47,214



7.


Share capital

2022
2021
£
£
Shares classified as equity
 
Authorised, allotted, called up and fully paid



100 (2021 - 100) ordinary shares of £1.00 each
100
100



8.


Related party transactions

At the balance sheet date, an amount of £18,780 (2021 - £28,780) is due to the director of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

 
Page 8