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REGISTERED NUMBER: 14110262 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE PERIOD 16 MAY 2022 TO 31 MAY 2023

FOR

THE LIVING ROOM CINEMA CHIPPING NORTON
LTD

THE LIVING ROOM CINEMA CHIPPING NORTON
LTD (REGISTERED NUMBER: 14110262)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 MAY 2022 TO 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE LIVING ROOM CINEMA CHIPPING NORTON
LTD

COMPANY INFORMATION
FOR THE PERIOD 16 MAY 2022 TO 31 MAY 2023







DIRECTORS: C E Beswick
N Carmen-Davis
A R Gavin





REGISTERED OFFICE: The Living Room Cinema Chipping Norton
29-30 High Street
Chipping Norton
Oxfordshire
OX7 5AD





REGISTERED NUMBER: 14110262 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

THE LIVING ROOM CINEMA CHIPPING NORTON
LTD (REGISTERED NUMBER: 14110262)

BALANCE SHEET
31 MAY 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 778,299

CURRENT ASSETS
Debtors 5 139,267
Cash at bank 255,397
394,664
CREDITORS
Amounts falling due within one year 6 274,341
NET CURRENT ASSETS 120,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

898,622

CAPITAL AND RESERVES
Called up and paid share capital 2,142
Share premium 948,858
Retained earnings (52,378 )
898,622

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

THE LIVING ROOM CINEMA CHIPPING NORTON
LTD (REGISTERED NUMBER: 14110262)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





C E Beswick - Director


THE LIVING ROOM CINEMA CHIPPING NORTON
LTD (REGISTERED NUMBER: 14110262)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 MAY 2022 TO 31 MAY 2023


1. STATUTORY INFORMATION

The Living Room Cinema Chipping Norton Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

THE LIVING ROOM CINEMA CHIPPING NORTON
LTD (REGISTERED NUMBER: 14110262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 MAY 2022 TO 31 MAY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 786,863
At 31 May 2023 786,863
DEPRECIATION
Charge for period 8,564
At 31 May 2023 8,564
NET BOOK VALUE
At 31 May 2023 778,299

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 4,350
Other debtors 134,917
139,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 253,665
Other creditors 20,676
274,341

7. RELATED PARTY DISCLOSURES

During the year the company received a loan totalling £25,000 from a company of which the director has an involvement. This loan is interest free with no fixed terms of this payment.