Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-04-01No description of principal activity5421truetrue 11531040 2022-04-01 2023-03-31 11531040 2021-04-01 2022-03-31 11531040 2023-03-31 11531040 2022-03-31 11531040 c:Director1 2022-04-01 2023-03-31 11531040 c:Director2 2022-04-01 2023-03-31 11531040 c:Director3 2022-04-01 2023-03-31 11531040 c:Director4 2022-04-01 2023-03-31 11531040 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 11531040 d:Buildings d:LongLeaseholdAssets 2023-03-31 11531040 d:Buildings d:LongLeaseholdAssets 2022-03-31 11531040 d:PlantMachinery 2022-04-01 2023-03-31 11531040 d:PlantMachinery 2023-03-31 11531040 d:PlantMachinery 2022-03-31 11531040 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11531040 d:FurnitureFittings 2022-04-01 2023-03-31 11531040 d:FurnitureFittings 2023-03-31 11531040 d:FurnitureFittings 2022-03-31 11531040 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11531040 d:OfficeEquipment 2022-04-01 2023-03-31 11531040 d:OfficeEquipment 2023-03-31 11531040 d:OfficeEquipment 2022-03-31 11531040 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11531040 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11531040 d:CurrentFinancialInstruments 2023-03-31 11531040 d:CurrentFinancialInstruments 2022-03-31 11531040 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11531040 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11531040 d:ShareCapital 2023-03-31 11531040 d:ShareCapital 2022-03-31 11531040 d:RetainedEarningsAccumulatedLosses 2023-03-31 11531040 d:RetainedEarningsAccumulatedLosses 2022-03-31 11531040 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11531040 c:OrdinaryShareClass1 2023-03-31 11531040 c:OrdinaryShareClass1 2022-03-31 11531040 c:OrdinaryShareClass2 2022-04-01 2023-03-31 11531040 c:OrdinaryShareClass2 2023-03-31 11531040 c:OrdinaryShareClass2 2022-03-31 11531040 c:FRS102 2022-04-01 2023-03-31 11531040 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11531040 c:FullAccounts 2022-04-01 2023-03-31 11531040 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11531040 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11531040









SESSIONS ARTS CLUB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SESSIONS ARTS CLUB LIMITED
REGISTERED NUMBER: 11531040

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
178,904
195,414

Investments
 5 
750
750

  
179,654
196,164

Current assets
  

Stocks
 6 
29,939
31,769

Debtors: amounts falling due within one year
 7 
287,012
267,438

Cash at bank and in hand
 8 
615,725
229,801

  
932,676
529,008

Creditors: amounts falling due within one year
 9 
(920,686)
(741,758)

Net current assets/(liabilities)
  
 
 
11,990
 
 
(212,750)

Total assets less current liabilities
  
191,644
(16,586)

  

Net assets/(liabilities)
  
191,644
(16,586)


Capital and reserves
  

Called up share capital 
 10 
580,000
580,000

Profit and loss account
  
(388,356)
(596,586)

  
191,644
(16,586)


Page 1

 
SESSIONS ARTS CLUB LIMITED
REGISTERED NUMBER: 11531040
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Ted Grebelius
Jonathan Gent
Director
Director



Oliver Grebelius
Director



Russell Potter
Director


Date: 18 December 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Sessions Arts Club Ltd is a company limited by shares incorporated in England and Wales (company number: 11531040). Its registered office address is 101 New Cavendish Street, 1st Floor South, London, United Kingdom W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over length of the lease
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 54 (2022 - 21).

Page 5

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
128,353
33,376
138,900
6,043
306,672


Additions
7,498
31,206
5,164
917
44,785



At 31 March 2023

135,851
64,582
144,064
6,960
351,457



Depreciation


At 1 April 2022
27,762
11,572
69,809
2,116
111,259


Charge for the year on owned assets
13,429
10,835
35,434
1,596
61,294



At 31 March 2023

41,191
22,407
105,243
3,712
172,553



Net book value



At 31 March 2023
94,660
42,175
38,821
3,248
178,904



At 31 March 2022
100,590
21,805
69,091
3,927
195,413


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2022
750



At 31 March 2023
750




Page 6

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
29,939
31,769

29,939
31,769



7.


Debtors

2023
2022
£
£


Trade debtors
1,895
1,895

Amounts owed by group undertakings
400
-

Other debtors
175,216
160,037

Prepayments and accrued income
109,501
105,506

287,012
267,438



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
615,725
229,802

615,725
229,802



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
280,001
188,392

Amounts owed to associates
297,000
297,000

Other taxation and social security
72,992
102,344

Other creditors
221,527
131,547

Accruals and deferred income
49,166
22,475

920,686
741,758


Page 7

 
SESSIONS ARTS CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



290,000 (2022 - 290,000) A Shares shares of £1.00 each
290,000
290,000
290,000 (2022 - 290,000) Y Shares shares of £1.00 each
290,000
290,000

580,000

580,000



11.


Related party transactions

Included in these accounts  are the following balances with  companies related to the directors.    
1 Cabin Studio Holdings Ltd  -loan                    £148,500 cr  (2022: £148,500 cr) 
2 Cabin Studio Holdings Ltd  -expenses            £3,027 dr     (2022: £3,027 dr)  
3 Satila Farringdon Ltd £148,500 cr (2022:£148,500cr) 
4 Boath Highlands Limited £400 dr (2022:Nil) 
   
Charges were also included  made on an arm’s length basis as follows:   
1 Cabin Studio Holdings Ltd  -expenses  £75,000 (2022: £75,000) 
2 Satila Farringdon Ltd £245,863  (2022: £205,986) 

 
Page 8