Company Registration No. 06138331 (England and Wales)
The Green Room (Wessex) Limited
Unaudited accounts
for the year ended 31 March 2023
The Green Room (Wessex) Limited
Unaudited accounts
Contents
The Green Room (Wessex) Limited
Company Information
for the year ended 31 March 2023
Company Number
06138331 (England and Wales)
Registered Office
Highland Hose
Mayflower Close
Chandlers Ford
Eastleigh
SO53 4AR
The Green Room (Wessex) Limited
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
16,797
13,973
Creditors: amounts falling due within one year
(13,812)
(12,843)
Net current assets
6,314
4,915
Called up share capital
1
1
Profit and loss account
6,813
5,614
Shareholders' funds
6,814
5,615
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 November 2023 and were signed on its behalf by
Mr S R Bundy
Director
Company Registration No. 06138331
The Green Room (Wessex) Limited
Notes to the Accounts
for the year ended 31 March 2023
The Green Room (Wessex) Limited is a private company, limited by shares, registered in England and Wales, registration number 06138331. The registered office is Highland Hose, Mayflower Close, Chandlers Ford, Eastleigh, SO53 4AR. The principal place of business is 21a Hursley Road, Chandler's Ford, Eastleigh, Hampshire, SO53 2FS, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historic cost convention, modified to include certain financial instruments at fair value. The principle accounting policies are set out below.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover represents net invoices sales of goods and services, excluding value added tax. Income is recognised when the service has been performed or the goods been supplied
Tangible fixed assets and depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is recognised in the income statement.
Depreciation has been provided at the following rates in
Leasehold improvements are depreciated over the length of the lease.
Fixtures & fittings
4% Straight line
Computer equipment
4% Straight line
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
The Green Room (Wessex) Limited
Notes to the Accounts
for the year ended 31 March 2023
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 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.
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all its financial instruments
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at the transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, which include trade and other payables are initially measured at transction price and subsequently measured at amortised cost, unless the arrangement constitutes a financial transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
8,898
13,222
2,970
25,090
At 31 March 2023
8,898
13,222
2,970
25,090
At 1 April 2022
8,198
13,222
2,970
24,390
Charge for the year
200
-
-
200
At 31 March 2023
8,398
13,222
2,970
24,590
At 31 March 2023
500
-
-
500
At 31 March 2022
700
-
-
700
The Green Room (Wessex) Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Accrued income and prepayments
204
160
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
6,203
6,410
Loans from directors
2,436
1,198
7
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
9,750
-
Later than one year and not later than five years
-
19,500
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).