Accounts City Brewery Sporting Events Limited
Registered number 11222496
Prepared as at 30 November 2022
Prepared by Adauxi Accountants, Certified Practising Accountants
B4 Parkside Knowledge Gateway, Nesfield Road,
Colchester, Essex, CO4 3ZL
01206 617 337 | accountants@adauxi.com
www.adauxi.com
City Brewery Sporting Events Limited
Registered number: 11222496
Director's Report
The director presents his report and accounts for the year ended 30 November 2022.
Principal activities
The company's principal activity during the period from incorporation was operating sporting events and facilities.
Director
The following persons served as directors during the year:
Mr P R Lewin
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 September 2023 and signed on its behalf.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Mr P R Lewin, Director
City Brewery Sporting Events Limited
Balance Sheet as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,874 2,772
Current assets
Debtors 4 376,271 375,000
Cash at bank and in hand 2,067 1,272
378,338 376,272
Creditors: amounts falling due within one year 5 (899,894) (725,460)
Net current liabilities (521,556) (349,188)
Total assets less current liabilities (518,682) (346,416)
Provisions for liabilities (354) (527)
Net liabilities (519,036) (346,943)
Capital and reserves
Called up share capital 1 1
Profit and loss account (519,037) (346,944)
Shareholder's deficit (519,036) (346,943)
The Balance Sheet is to be read in conjunction with the Notes to the Financial Statements, which form part of the financial statements.
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit 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 accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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Mr P R Lewin, Director
Approved by the Board on 29 September 2023
City Brewery Sporting Events Limited
Notes to the Accounts for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The Director has considered whether the going concern basis is an appropriate basis on which to prepare the financial statements. There is not significant uncertainty as to whether the company will continue to trade, and accordingly the going concern basis of accounting is considered to be appropriate.
Turnover: rendering of services
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Turnover includes revenue earned from the rendering of services.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2021 5,800 - 5,800
Additions - 1,078 1,078
At 30 November 2022 5,800 1,078 6,878
Depreciation
At 1 December 2021 3,028 - 3,028
Charge for the year 976 - 976
At 30 November 2022 4,004 - 4,004
Net book value
At 30 November 2022 1,796 1,078 2,874
At 30 November 2021 2,772 - 2,772
4 Debtors 2022 2021
£ £
Other debtors 376,271 375,000
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,360 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 799,155 654,840
Corporation tax 800 -
Other taxes and social security costs 98,272 70,373
Other creditors 307 247
899,894 725,460
6 Related party transactions 2022 2021
£ £
Compensation paid to key management personnel - 60,000
Entities with control over the entity
Entities with control over the company have advanced funds to the company for its working capital purposes. Such advances are unsecured, have no fixed date for repayment and do not attract interest.
Amount due from (to) the related party (799,155) (653,860)
7 Controlling party
Mr P R Lewin, director and shareholder, is the ultimate controlling party of the company by virtue of a controlling interest in the voting shares in the Company.
Rupert Lewin Racing Limited is the immediate parent entity of the company by virtue of a controlling interest in the voting shares of the company.
8 Other information
City Brewery Sporting Events Limited is a private company limited by shares and incorporated in England. Its registered office is:
B4 Parkside Knowledge Gateway
Nesfield Road
Colchester
Essex
CO4 3ZL
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