REGISTERED NUMBER: |
Absolutely Cultured (Enterprises) Ltd |
Financial Statements for the Year Ended 31st March 2023 |
REGISTERED NUMBER: |
Absolutely Cultured (Enterprises) Ltd |
Financial Statements for the Year Ended 31st March 2023 |
Absolutely Cultured (Enterprises) Ltd (Registered number: 09734156) |
Contents of the Financial Statements |
for the year ended 31st March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Absolutely Cultured (Enterprises) Ltd |
Company Information |
for the year ended 31st March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Absolutely Cultured (Enterprises) Ltd (Registered number: 09734156) |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
Absolutely Cultured (Enterprises) Ltd (Registered number: 09734156) |
Notes to the Financial Statements |
for the year ended 31st March 2023 |
1. | STATUTORY INFORMATION |
Absolutely Cultured (Enterprises) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The company's parent charity continues to deliver upon its cultural objectives and has been assessed by its directors as continuing to be a going concern. This being the case there remains a continued need for a trading subsidiary to raise commercial revenues. Due to the organisational structure of the group, all costs are directly attributable to those revenues with the net surplus continuing to be paid to the parent charity under the Gift Aid rules. Accordingly at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenues from licensing and sponsorship agreements are recognised by reference to the period to which the agreement relates. Incoming resources received in advance of the period to which they relate are deferred. Incoming resources from licensing and sponsorship agreements whereby goods are provided to the parent charity are accounted for in the same way as conventional agreements. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
Absolutely Cultured (Enterprises) Ltd (Registered number: 09734156) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2022 |
Additions |
Disposals | ( |
) |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Absolutely Cultured (Enterprises) Ltd (Registered number: 09734156) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The parent's registered office and principal place of business is: |
Humber Street Gallery |
64 Humber Street |
Hull |
HU1 1TU |