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Registered number: 08566233
The Old Reading Room Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Emma Drew
Company Number 08566233
Registered Office 10 Scandia Hus Business Park
Felcourt Road, Felcourt
East Grinstead
RH19 2LP
Accountants Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Page 1
Page 2
Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Old Reading Room Limited for the year ended 30 June 2023 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director of The Old Reading Room Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Old Reading Room Limited and state those matters that we have agreed to state to the director of The Old Reading Room Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that The Old Reading Room Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Old Reading Room Limited . You consider that The Old Reading Room Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Old Reading Room Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
14 March 2024
Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Page 2
Page 3
Balance Sheet
Registered number: 08566233
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 434 592
434 592
CURRENT ASSETS
Debtors 5 1,023 2,771
Cash at bank and in hand - 109
1,023 2,880
Creditors: Amounts Falling Due Within One Year 6 (1,006 ) (936 )
NET CURRENT ASSETS (LIABILITIES) 17 1,944
TOTAL ASSETS LESS CURRENT LIABILITIES 451 2,536
Creditors: Amounts Falling Due After More Than One Year 7 (7,150 ) (7,150 )
NET LIABILITIES (6,699 ) (4,614 )
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account (6,700 ) (4,615 )
SHAREHOLDERS' FUNDS (6,699) (4,614)
Page 3
Page 4
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Emma Drew
Director
14 March 2024
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
The Old Reading Room Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08566233 . The registered office is 10 Scandia Hus Business Park, Felcourt Road, Felcourt, East Grinstead, RH19 2LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2022 1,087 1,071 2,158
As at 30 June 2023 1,087 1,071 2,158
Depreciation
As at 1 July 2022 629 937 1,566
Provided during the period 114 44 158
As at 30 June 2023 743 981 1,724
Net Book Value
As at 30 June 2023 344 90 434
As at 1 July 2022 458 134 592
Page 5
Page 6
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 1,023 2,771
1,023 2,771
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 10 -
Other creditors 996 936
1,006 936
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 7,150 7,150
7,150 7,150
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2022 Amounts advanced Amounts repaid Amounts written off As at 30 June 2023
£ £ £ £ £
Ms Emma Drew 1,748 - (1,808 ) - (60 )
The above loan is unsecured, interest free and repayable on demand.
Page 6