Registered number
07552481
Melbourne Assembly Rooms Limited
Filleted Accounts
31 March 2023
Melbourne Assembly Rooms Limited
Registered number: 07552481
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,186 10,776
Current assets
Stocks 3,448 3,129
Debtors 4 18,167 8,118
Cash at bank and in hand 64,044 91,519
85,659 102,766
Creditors: amounts falling due within one year 5 (22,794) (48,073)
Net current assets 62,865 54,693
Total assets less current liabilities 82,051 65,469
Creditors: amounts falling due after more than one year 6 (6,328) (2,100)
Provisions for liabilities (915) (847)
Net assets 74,808 62,522
Capital and reserves
Profit and loss account 74,808 62,522
Shareholders' funds 74,808 62,522
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr B A Lambert
Director
Approved by the board on 28 September 2023
Melbourne Assembly Rooms Limited
Notes to the Accounts
for the year ended 31 March 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised at the point of sale and turnover from the rendering of services is recognised when the services are performed.
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:
Fixtures, fittings, tools and equipment 33% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors and other basic liabilities are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered against 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. Current and deferred tax assets and liabilities are not discounted.
Grants received
Government and other grants in relation to revenue are recognised as income when the related expenditure is charged to the income statement. Where the purpose of the grant is to give immediate financial support with no related future costs the revenue is recognised when receivable. Capital grants are credited to the profit and loss account by instalments over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 April 2022 33,643
Additions 14,808
Disposals (3,524)
At 31 March 2023 44,927
Depreciation
At 1 April 2022 22,867
Charge for the year 6,397
On disposals (3,523)
At 31 March 2023 25,741
Net book value
At 31 March 2023 19,186
At 31 March 2022 10,776
4 Debtors 2023 2022
£ £
Trade debtors 4,941 2,760
Other debtors 13,226 5,358
18,167 8,118
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,486 13,733
Taxation and social security costs 4,679 5,042
Other creditors 13,629 29,298
22,794 48,073
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 6,328 2,100
7 Grants
The company has received from South Derbyshire District Council a grant of £29,000 towards the running of the historic building. Both the income and expenditure have been charged to the income statement in the year.

Grants of £48,079 have been received from South Derbyshire District Council and £2,000 from East Midlands Airport towards the renovation of the outside areas of the historic building. £9,993 relates to capital purchases, of which £2,609 has been charged to the income statement in the year in line with the estimated useful life of the capital assets. The balance of £7,384 has been carried forward on the balance sheet and is reported under creditors. The remainder of the grants £40,086 has been charged to the income statement in line with the expenditure incurred in the year.

Grants of £1,000 have been received from South Derbyshire District Council and £750 from East Midlands Airport in relation to the Big Village Event. The receipts have been deferred until May 23 when the event is scheduled to take place and reported under creditors on the balance sheet.
A further capital grant of £3,150 was received from the Police & Crime Commissioner towards improving security of the historic building (£6,300 in total). £1,925 has been charged to the income statement in the year in line with the estimated useful life of the asset. The balance of £4,375 has been carried forward on the balance sheet and is reported under creditors.
Furthermore grant income of £19,100 which had been carried forward from 2022 has been charged to the income statement in the year in line with the expenditure incurred.
8 Controlling party
The company is limited by guarantee without share capital. The Board of Directors manages the company and no single Director has overall control.
9 Other information
Melbourne Assembly Rooms Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
High Street
Melbourne
Derbyshire
DE73 8DS
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