Company registration number 10477436 (England and Wales)
ROUNDHOUSE EVENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ROUNDHOUSE EVENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ROUNDHOUSE EVENTS LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
16,038
24,154
Tangible assets
4
223,813
206,393
Investment property
5
441,000
422,000
Investments
6
14,404
9,112
695,255
661,659
Current assets
Debtors
7
221,044
88,550
Cash at bank and in hand
17,637
2,462
238,681
91,012
Creditors: amounts falling due within one year
8
(498,249)
(605,648)
Net current liabilities
(259,568)
(514,636)
Total assets less current liabilities
435,687
147,023
Creditors: amounts falling due after more than one year
9
(288,795)
(28,823)
Provisions for liabilities
(11,415)
(11,606)
Net assets
135,477
106,594
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
135,377
106,494
Total equity
135,477
106,594
ROUNDHOUSE EVENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
For the financial year ended 30 April 2024 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
R Franklin-Smith
Director
Company registration number 10477436 (England and Wales)
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Roundhouse Events Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Egale 1, 80 St Albans Road, Watford, Herts, WD17 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website costs
Over 5 years
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
12.50% straight line
Fixtures and fittings
25% reducing balance
Computers
33% reducing balance
Motor vehicles
20% straight line
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Fixed asset investments
Other investments include assets that are held for the purpose of selling for a profit in the future. These are initially recognised at cost. They are subsequently measured at fair value with changes in their value being recognised in the profit and loss account.
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.13
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Intangible fixed assets
Website costs
£
Cost
At 1 May 2023 and 30 April 2024
55,498
Amortisation and impairment
At 1 May 2023
31,344
Amortisation charged for the year
8,116
At 30 April 2024
39,460
Carrying amount
At 30 April 2024
16,038
At 30 April 2023
24,154
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
As restated
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
195,683
21,902
6,666
1,700
225,951
Additions
8,790
6,963
4,593
32,500
52,846
At 30 April 2024
204,473
28,865
11,259
34,200
278,797
Depreciation and impairment
At 1 May 2023
13,068
2,683
2,447
1,360
19,558
Depreciation charged in the year
24,802
6,131
2,528
1,965
35,426
At 30 April 2024
37,870
8,814
4,975
3,325
54,984
Carrying amount
At 30 April 2024
166,603
20,051
6,284
30,875
223,813
At 30 April 2023
182,615
19,219
4,219
340
206,393
5
Investment property
2024
£
Fair value
At 1 May 2023
422,000
Revaluations
19,000
At 30 April 2024
441,000
In the prior period, the investment property was incorrectly classified as an asset under construction within fixed assets. The comparatives have now been been restated to show the correct position.
The fair value of the investment property has been arrived at on the basis of a desktop valuation carried out at by the directors of the company.
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
14,404
9,112
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
6
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 May 2023
9,112
Additions
5,292
At 30 April 2024
14,404
Carrying amount
At 30 April 2024
14,404
At 30 April 2023
9,112
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
849
7,469
Amounts owed by group undertakings
147,283
57,515
Other debtors
72,912
23,566
221,044
88,550
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
33,103
31,613
Trade creditors
63,189
5,524
Taxation and social security
33,724
20,264
Other creditors
368,233
548,247
498,249
605,648
Included in the above is an amount owed to Natwest of £7,559 which is payable by instalments, The loan is secured by way of a fixed and floating charge over the assets of the company.
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
268,723
28,823
Other creditors
20,072
288,795
28,823
ROUNDHOUSE EVENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
9
Creditors: amounts falling due after more than one year
(Continued)
- 8 -
Included in the above is an amount of £105,550 due to Natwest by instalments. The amount is secured by way of a fixed and floating charge over the company's assets.
Also included in the above is an amount of £20,072 in relation to a hire purchase agreement. The amount is secured over the asset it relates to.
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100