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REGISTERED NUMBER: 03008235 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

PRESTON LITTLE THEATRE COMPANY LIMITED
A COMPANY LIMITED BY GUARANTEE

PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRESTON LITTLE THEATRE COMPANY LIMITED
A COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr P H Bracewell
Mr D V Yardley
Mrs J C Tudor
Mr J Bracewell
Mrs J Dawson
Mrs R E Carter
Mr J Calvert
Mr P C Armitt
Mrs W Tagg
Mrs R A Fraser
Mr A Green
Mr M J Taylor
Mrs C J Caine





REGISTERED OFFICE: Mayfield
Parsonage Lane
Chipping
Preston
Lancashire
PR3 2GJ





REGISTERED NUMBER: 03008235 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 123,592 125,709

CURRENT ASSETS
Stocks 5 1,334 1,220
Debtors 6 63,305 4,240
Cash at bank and in hand 61,932 109,408
126,571 114,868
CREDITORS
Amounts falling due within one year 7 (12,977 ) (20,160 )
NET CURRENT ASSETS 113,594 94,708
TOTAL ASSETS LESS CURRENT LIABILITIES 237,186 220,417

RESERVES
Income and expenditure account 8 237,186 220,417
237,186 220,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 surplus or deficit 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.

PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2024 and were signed on its behalf by:





Mr J Calvert - Director


PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Preston Little Theatre Company Limited is a private company, limited by guarantee , 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.
Improvements to Property - Written off over period of lease
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 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 statement of financial position 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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
Property fittings Totals
£    £    £   
COST
At 1st July 2023 188,330 21,083 209,413
Additions - 7,700 7,700
At 30th June 2024 188,330 28,783 217,113
DEPRECIATION
At 1st July 2023 71,777 11,927 83,704
Charge for year 8,034 1,783 9,817
At 30th June 2024 79,811 13,710 93,521
NET BOOK VALUE
At 30th June 2024 108,519 15,073 123,592
At 30th June 2023 116,553 9,156 125,709

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 1,334 1,220

PRESTON LITTLE THEATRE COMPANY LIMITED (REGISTERED NUMBER: 03008235)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,355 4,240
Other debtors 60,950 -
63,305 4,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors 12,977 20,160

8. RESERVES
Income
and
expenditur
account
£   

At 1st July 2023 220,417
Surplus for the year 16,769
At 30th June 2024 237,186