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REGISTERED NUMBER: 07242737 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

3 Amigos Entertainment Limited

3 Amigos Entertainment Limited (Registered number: 07242737)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


3 Amigos Entertainment Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: J Bishop
Mrs S Cornall-Bishop





REGISTERED OFFICE: Level 7, Tower 12
The Avenue North
18-22 Bridge Street
Manchester
M3 3BZ





REGISTERED NUMBER: 07242737 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
Level 7, Tower 12,
18-22 Bridge Street,
Spinningfields,
Manchester
M3 3BZ

3 Amigos Entertainment Limited (Registered number: 07242737)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,826 44,342
Investments 5 13,000 13,000
Investment property 6 367,600 -
409,426 57,342

CURRENT ASSETS
Debtors 7 1,739,218 1,877,406
Cash at bank 1,088,723 1,991,672
2,827,941 3,869,078
CREDITORS
Amounts falling due within one year 8 281,400 949,646
NET CURRENT ASSETS 2,546,541 2,919,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,955,967

2,976,774

PROVISIONS FOR LIABILITIES - 442
NET ASSETS 2,955,967 2,976,332

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,955,867 2,976,232
SHAREHOLDERS' FUNDS 2,955,967 2,976,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

3 Amigos Entertainment Limited (Registered number: 07242737)

Balance Sheet - continued
31 August 2023


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

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 9 January 2024 and were signed on its behalf by:





J Bishop - Director


3 Amigos Entertainment Limited (Registered number: 07242737)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

3 Amigos Entertainment Limited is a private company, limited by shares , 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

3 Amigos Entertainment Limited (Registered number: 07242737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 56,060 47,535 103,595
Additions - 1,731 1,731
At 31 August 2023 56,060 49,266 105,326
DEPRECIATION
At 1 September 2022 26,483 32,770 59,253
Charge for year 7,394 9,853 17,247
At 31 August 2023 33,877 42,623 76,500
NET BOOK VALUE
At 31 August 2023 22,183 6,643 28,826
At 31 August 2022 29,577 14,765 44,342

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022
and 31 August 2023 13,000
NET BOOK VALUE
At 31 August 2023 13,000
At 31 August 2022 13,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 367,600
At 31 August 2023 367,600
NET BOOK VALUE
At 31 August 2023 367,600

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 1,903 -
Other debtors 1,737,315 1,877,406
1,739,218 1,877,406

3 Amigos Entertainment Limited (Registered number: 07242737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 1,694 32,707
Tax 194,920 539,223
VAT 17,397 338,652
Other creditors 7,733 605
Directors' current accounts 535 59
Accruals and deferred income 59,121 38,400
281,400 949,646

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
J Bishop
Balance outstanding at start of year (59 ) (2,847 )
Amounts advanced 892,886 898,388
Amounts repaid (893,362 ) (895,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (535 ) (59 )

10. RELATED PARTY DISCLOSURES

Included in other debtors at 31 August 2023 the company was owed £1,397,177 (2022: £1,398,014) from N7W Limited, a company under common control.
The amount was interest free and repayable on demand.

Included in other debtors at 31 August 2023 the company was owed £150,000 (2022: £150,000) from E Bishop, a party related to J Bishop, director.
The amount is interest free and repayable on demand.

Included in other debtors at 31 August 2023 the company was owed £11,718 (2022: £14,718l) from C Bishop, a party related to J Bishop, director.
The amount is interest free and repayable by instalments.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors due to their shareholdings.