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REGISTERED NUMBER: 01848111 (England and Wales)















TRINITY ARTS ENTERPRISES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


TRINITY ARTS ENTERPRISES LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: J J Hill
M F Stevens
M J E Gibbons





REGISTERED OFFICE: Trinity Theatre and Arts Centre
Church Road
Tunbridge Wells
Kent
TN1 1JP





REGISTERED NUMBER: 01848111 (England and Wales)





AUDITORS: Hilden Park Accountants Limited
Chartered Accountants
& Statutory Auditors
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111)

ABRIDGED BALANCE SHEET
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,994 11,166

CURRENT ASSETS
Stocks 5,112 4,325
Debtors 4,649 2,136
Cash at bank 10,827 2,334
20,588 8,795
CREDITORS
Amounts falling due within one year 98,828 55,557
NET CURRENT LIABILITIES (78,240 ) (46,762 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(66,246

)

(35,596

)

RESERVES
Income and expenditure account 5 (66,246 ) (35,596 )
(66,246 ) (35,596 )

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





M J E Gibbons - Director


TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Trinity Arts Enterprises Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in pounds sterling and rounded to the nearest pound.

Turnover
Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, for the sale of food, beverages and other cafe goods. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 20% on cost and Straight line over 25 years
Plant and machinery - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Gift aid payment to parent charity
The company pays all its taxable profits for the reporting period to its parent charity under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings.

At the reporting date there was no legal obligation in place for the company to make this gift aid payment, although prior to the reporting date the board had indicated its intention to pay taxable profits to the parent charity in respect of the reporting period. The payment is expected to be made within 9 months of the end of the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 27,330
Additions 3,955
Disposals (565 )
At 31 March 2023 30,720
DEPRECIATION
At 1 April 2022 16,164
Charge for year 3,015
Eliminated on disposal (453 )
At 31 March 2023 18,726
NET BOOK VALUE
At 31 March 2023 11,994
At 31 March 2022 11,166

TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


5. RESERVES

As a result of the company adopting the updates of the Financial Reporting Council's Triennial review of FRS102 regarding gift aid distributions the retained earnings of the company at 31 March 2023 are as follows:

Opening retained earnings as at 1 April 2022 - (£35,596)

Distribution to parent charity of prior year profit - £Nil

Loss for the year ended 31 March 2023 - (£30,650)

Cross charge from parent charity in current year - £12,000

Closing retained earnings as at 31 March 2023 - (£66,246)

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Chewter FCA (Senior Statutory Auditor)
for and on behalf of Hilden Park Accountants Limited

7. RELATED PARTY DISCLOSURES

The company donates all profits to Trinity Theatre and Arts Centre Limited by way of a gift aid distribution.

At 31 March 2023 the company owed £68,179 (2022: £29,707) to Trinity Theatre and Arts Centre Limited.

During the year there was a cross charge of £12,000 (2022: £nil) from Trinity Theatre and Arts Centre Limited.

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary undertaking of Trinity Theatre and Arts Centre Limited, a charity whose registered office is Trinity Theatre and Arts Centre, Church Road, Tunbridge Wells, Kent TN1 1JP. Copies of the consolidated group accounts of the parent charity, which include the results of the company, can be obtained on request from the parent charity's registered office.

9. GOING CONCERN

The company has incurred a loss after tax of £30,650 during the year ended 31 March 2023. The parent charity, Trinity Theatre and Arts Centre Limited, has pledged its continuing support for the foreseeable future and the accounts have therefore been prepared on a going concern basis as a result of the support given by the parent charity.

The Directors of Trinity Theatre and Arts Centre Limited have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements. These forecasts reflect an assessment of current and future market conditions and their impact on the company's future cash flow performance.