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Registration number: 03211252

The Bristol Event Company Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

The Bristol Event Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Bristol Event Company Limited

Company Information

Directors

Mrs M C Boland

D J Murphy

Company secretary

D J Murphy

Registered office

12 Manor Close
Berrow
Burnham-on-Sea
Somerset
TA8 2LN

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

The Bristol Event Company Limited

(Registration number: 03211252)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,750

1,867

Investment property

5

679,000

681,500

 

680,750

683,367

Current assets

 

Debtors

6

1,345

463

Cash at bank and in hand

 

20,107

51,803

 

21,452

52,266

Creditors: Amounts falling due within one year

7

(46,540)

(43,580)

Net current (liabilities)/assets

 

(25,088)

8,686

Total assets less current liabilities

 

655,662

692,053

Creditors: Amounts falling due after more than one year

7

(189,000)

(230,000)

Provisions for liabilities

(26,129)

(32,997)

Net assets

 

440,533

429,056

Capital and reserves

 

Called up share capital

2

2

Other reserves

175,296

177,796

Retained earnings

265,235

251,258

Shareholders' funds

 

440,533

429,056

 

The Bristol Event Company Limited

(Registration number: 03211252)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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 30 July 2024 and signed on its behalf by:
 

.........................................
D J Murphy
Company secretary and director

 

The Bristol Event Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

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.

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

Revenue recognition

Turnover represents rents received from investment properties.

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.

 

The Bristol Event Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

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

Long leasehold

2% Straight line

Plant and machinery

25% Reducing balance

Fixtures, fixtures and computer equipment

25% Reducing balance and 33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

The Bristol Event Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

The Bristol Event Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Long leasehold
£

Fixtures, fittings and computer equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

3,545

6,453

7,527

17,525

At 31 October 2023

3,545

6,453

7,527

17,525

Depreciation

At 1 November 2022

1,764

6,367

7,527

15,658

Charge for the year

70

47

-

117

At 31 October 2023

1,834

6,414

7,527

15,775

Carrying amount

At 31 October 2023

1,711

39

-

1,750

At 31 October 2022

1,781

86

-

1,867

5

Investment properties

2023
£

At 1 November

681,500

Fair value adjustments

(2,500)

At 31 October

679,000

Investment properties have been fair valued by the directors as at the balance sheet date based on the prevailing market conditions.

 

The Bristol Event Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

Note

2023
£

2022
£

Prepayments

 

1,345

345

Income tax asset

-

118

 

1,345

463

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,929

-

Accruals and deferred income

5,616

8,002

Other creditors

38,995

35,578

46,540

43,580

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

189,000

230,000

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

189,000

230,000