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REGISTERED NUMBER: 08351853 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 January 2024

for

Tomorrow's Talent Theatre Arts Limited

Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tomorrow's Talent Theatre Arts Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R N Shorrocks
G Wilkinson





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 08351853 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)

Balance Sheet
31 January 2024

31.1.23 31.1.24
£    £    Notes £    £   
FIXED ASSETS
13,832 Tangible assets 4 2,741

CURRENT ASSETS
400 Stocks 450
3,838 Debtors 5 7,235
53,823 Cash at bank and in hand 41,697
58,061 49,382
CREDITORS
28,475 Amounts falling due within one year 6 28,704
29,586 NET CURRENT ASSETS 20,678
43,418 TOTAL ASSETS LESS CURRENT
LIABILITIES

23,419

1,137 PROVISIONS FOR LIABILITIES 493
42,281 NET ASSETS 22,926

CAPITAL AND RESERVES
100 Called up share capital 8 100
42,181 Retained earnings 22,826
42,281 SHAREHOLDERS' FUNDS 22,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)

Balance Sheet - continued
31 January 2024


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 10 April 2024 and were signed on its behalf by:





R N Shorrocks - Director


Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Tomorrow's Talent Theatre Arts 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.
Land and buildings - over the lease term
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes those of purchase and other coss incurred in bring it to its location and condition.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1 February 2023 86,629 2,968 83,661
Additions 999 - 999
Disposals (666 ) - (666 )
At 31 January 2024 86,962 2,968 83,994
DEPRECIATION
At 1 February 2023 72,797 2,722 70,075
Charge for year 11,868 246 11,622
Eliminated on disposal (444 ) - (444 )
At 31 January 2024 84,221 2,968 81,253
NET BOOK VALUE
At 31 January 2024 2,741 - 2,741
At 31 January 2023 13,832 246 13,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 810 113
Other debtors 6,425 3,725
7,235 3,838

Tomorrow's Talent Theatre Arts Limited (Registered number: 08351853)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 3,912 100
Taxation and social security 6,565 5,761
Other creditors 18,227 22,614
28,704 28,475

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year - 19,200

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary £1 2 2
49 Ordinary A £1 49 49
49 Ordinary B £1 49 49
100 100