Year Ended
Registration number:
Eden Sessions Limited
Company Information
Directors |
Ms R Broe Mr D N Harland Mr C M Chapple Mr S J Van Dyk Mr L P Flynn Ms D Wilding |
Company secretary |
Ms T Bingham |
Registered office |
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Auditors |
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Eden Sessions Limited
Balance Sheet
31 December 2021
Note |
2021 |
2020 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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( |
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Shareholders' funds |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 12084015
Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
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 Eden Sessions Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.
Going concern
The directors are satisified that based on forecasts prepared, and information available to date (including the scheduled programme of concerts for 2022), the company has adequate resources available to enable it to discharge its obligations as they fall due for a period at least 12 months from the date of approval of these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Judgements
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 key judgements made are in relation to the estimated useful life of intangible assets, which is 50 years, and the accounting treatment of refunds. |
Key sources of estimation uncertainty
Deferred income
Deferred income has been recognised in respect of advanced ticket sales on a number of Eden Sessions concerts. Deferred income will be released as and when the relevant concert takes place. With the exception of the amounts disclosed in note 12, the directors are confident that the majority of the balance will be recognised as revenue based on the current planned programme of concerts for 2022.
Carrying value of intangible assets
The carrying value of intangible assets (being cost less accumulated amortisation) is reviewed for impairment annually by reference to future expected income streams.
Revenue recognition
Revenue on advanced tickets is initially included in the balance sheet within deferred income. Revenue is recognised in the profit and loss account when the related event takes place.
Turnover is stated net of VAT.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
3 - 10 years |
Assets under construction |
Not depreciated until brought into use |
Intangible assets
Separately acquired rights to use trademarks and licences are intially included at cost.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Eden Sessions brand & rights |
over 50 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 January 2021 |
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At 31 December 2021 |
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Amortisation |
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At 1 January 2021 |
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Amortisation charge |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Tangible assets |
Equipment |
Assets under construction |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Additions |
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Transfers |
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( |
- |
At 31 December 2021 |
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- |
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Depreciation |
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Charge for the year |
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- |
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At 31 December 2021 |
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- |
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Carrying amount |
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At 31 December 2021 |
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- |
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At 31 December 2020 |
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Stocks |
2021 |
2020 |
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Other inventories |
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- |
Debtors |
2021 |
2020 |
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Trade debtors |
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- |
Prepayments |
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Other debtors |
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Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Trade creditors |
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Social security and other taxes |
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Accruals |
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Corporation tax |
22,000 |
- |
Deferred income |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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50 |
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50 |
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50 |
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50 |
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Eden Sessions Limited
Notes to the Financial Statements
Year Ended 31 December 2021
Related party transactions |
Summary of transactions with other related parties
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
Non adjusting events after the financial period |
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Audit report |