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Registration number: 04075663

The Holmfirth Picturedrome Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

The Holmfirth Picturedrome Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Holmfirth Picturedrome Limited

Company Information

Directors

RM Carr

PA Carr

Company secretary

RM Carr

Registered office

The Picturedrome
Market Walk
Holmfirth
Huddersfield
West Yorkshire
HD9 1DA

 

The Holmfirth Picturedrome Limited

(Registration number: 04075663)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

80,571

71,766

Current assets

 

Stocks

5

12,000

12,000

Debtors

6

410,856

486,528

Cash at bank and in hand

 

378,974

118,019

 

801,830

616,547

Creditors: Amounts falling due within one year

7

(143,553)

(120,924)

Net current assets

 

658,277

495,623

Total assets less current liabilities

 

738,848

567,389

Creditors: Amounts falling due after more than one year

7

(95,451)

(102,532)

Provisions for liabilities

(20,143)

(13,898)

Net assets

 

623,254

450,959

Capital and reserves

 

Called up share capital

10

10

Retained earnings

623,244

450,949

Shareholders' funds

 

623,254

450,959

 

The Holmfirth Picturedrome Limited

(Registration number: 04075663)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 February 2024 and signed on its behalf by:
 

.........................................
RM Carr
Company secretary and director

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Picturedrome
Market Walk
Holmfirth
Huddersfield
West Yorkshire
HD9 1DA

These financial statements were authorised for issue by the Board on 29 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Reducing balance

Fixtures and fittings

15% Reducing balance

Computer equipment

33% Reducing balance

Property improvements

10% Straight line

Motor vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2022 - 24).

4

Tangible assets

Properties under construction
 £

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 October 2022

41,065

75,493

41,332

4,902

Additions

-

5,139

17,914

-

At 30 September 2023

41,065

80,632

59,246

4,902

Depreciation

At 1 October 2022

40,313

49,456

15,013

2,183

Charge for the year

165

4,770

4,424

904

At 30 September 2023

40,478

54,226

19,437

3,087

Carrying amount

At 30 September 2023

587

26,406

39,809

1,815

At 30 September 2022

752

26,037

26,319

2,719

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

27,900

190,692

Additions

-

23,053

At 30 September 2023

27,900

213,745

Depreciation

At 1 October 2022

11,961

118,926

Charge for the year

3,985

14,248

At 30 September 2023

15,946

133,174

Carrying amount

At 30 September 2023

11,954

80,571

At 30 September 2022

15,939

71,766

5

Stocks

2023
£

2022
£

Other inventories

12,000

12,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,993

2,941

Prepayments

3,083

3,571

Other debtors

405,780

480,016

 

410,856

486,528

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

7,081

6,805

Trade creditors

 

19,464

28,666

Taxation and social security

 

105,470

77,908

Accruals and deferred income

 

8,458

4,626

Other creditors

 

3,080

2,919

 

143,553

120,924

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

95,451

102,532

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

95,451

102,532

2023
£

2022
£

Current loans and borrowings

Bank borrowings

7,081

6,805

 

The Holmfirth Picturedrome Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

9

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Interest has been charged at 2.0% and there are no conditions attached to this loan.

119,619

61,688

(129,117)

52,189

         
       

 

2022

At 1 October 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

Interest has been charged at 2.0% and there are no conditions attached to this loan.

26,799

171,100

(78,280)

119,619