Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseNo description of principal activity2424truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07306571 2023-01-01 2023-12-31 07306571 2022-01-01 2022-12-31 07306571 2023-12-31 07306571 2022-12-31 07306571 c:Director3 2023-01-01 2023-12-31 07306571 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 07306571 d:Buildings d:LongLeaseholdAssets 2023-12-31 07306571 d:Buildings d:LongLeaseholdAssets 2022-12-31 07306571 d:PlantMachinery 2023-01-01 2023-12-31 07306571 d:PlantMachinery 2023-12-31 07306571 d:PlantMachinery 2022-12-31 07306571 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07306571 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07306571 d:Goodwill 2023-12-31 07306571 d:Goodwill 2022-12-31 07306571 d:CurrentFinancialInstruments 2023-12-31 07306571 d:CurrentFinancialInstruments 2022-12-31 07306571 d:Non-currentFinancialInstruments 2023-12-31 07306571 d:Non-currentFinancialInstruments 2022-12-31 07306571 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07306571 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07306571 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07306571 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07306571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07306571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 07306571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07306571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 07306571 d:ShareCapital 2023-12-31 07306571 d:ShareCapital 2022-12-31 07306571 d:RetainedEarningsAccumulatedLosses 2023-12-31 07306571 d:RetainedEarningsAccumulatedLosses 2022-12-31 07306571 c:FRS102 2023-01-01 2023-12-31 07306571 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07306571 c:FullAccounts 2023-01-01 2023-12-31 07306571 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07306571 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 07306571 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07306571









CHARING CROSS THEATRE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CHARING CROSS THEATRE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHARING CROSS THEATRE LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CHARING CROSS THEATRE LIMITED for the year ended 31 December 2023 which comprise  the balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the board of directors of CHARING CROSS THEATRE LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of CHARING CROSS THEATRE LIMITED and state those matters that we have agreed to state to the board of directors of CHARING CROSS THEATRE LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CHARING CROSS THEATRE LIMITED and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that CHARING CROSS THEATRE 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 CHARING CROSS THEATRE LIMITED. You consider that CHARING CROSS THEATRE LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of CHARING CROSS THEATRE 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.

  



Nyman Libson Paul LLP
 
Chartered Accountants
  
Regina House
124 Finchley Road
London
NW3 5JS
25 September 2024
Page 1

 
CHARING CROSS THEATRE LIMITED
REGISTERED NUMBER: 07306571

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
61,308
70,069

Tangible assets
 5 
224,364
200,487

  
285,672
270,556

Current assets
  

Stocks
  
15,989
15,989

Debtors: amounts falling due within one year
 6 
188,733
101,586

Cash at bank and in hand
 7 
17,431
16,681

  
222,153
134,256

Creditors: amounts falling due within one year
 8 
(648,974)
(687,883)

Net current liabilities
  
 
 
(426,821)
 
 
(553,627)

Total assets less current liabilities
  
(141,149)
(283,071)

Creditors: amounts falling due after more than one year
 9 
(884,300)
(894,300)

  

Net liabilities
  
(1,025,449)
(1,177,371)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,025,549)
(1,177,471)

  
(1,025,449)
(1,177,371)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2

 
CHARING CROSS THEATRE LIMITED
REGISTERED NUMBER: 07306571
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




Steven Levy
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Charing Cross Theatre Limited is a private company limited by shares and incorporated in England. The address of the registered office is Charing Cross Theatre, The Arches, Villiers Street, London WC2N 6NL. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through its own resources, long term loans from third parties who have provided funds specifically to support the company.
The directors have prepared forecasts and cash flow projections based on a number of potential scenarios. These, together with the reserves and cash held, indicate that the company has adequate resources to continue in operational existence for the foreseeable future. Further financial support has been received by way of a bounce back loan. It is, however, difficult to determine the assumptions that will prove to be the most appropriate therefore there is an element of uncertainty existing.
After reviewing the forecasts and projections, at the time of approving these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the next twelve months. The directors therefore consider it appropriate to continue to adopt the going concern basis in preparing the company's financial statements.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of venue rental as well as food and beverage sales net of VAT receivable for the reporting period.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Page 4

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5%
On cost
Plant and machinery
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2022 - 24).

Page 5

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
175,211



At 31 December 2023

175,211



Amortisation


At 1 January 2023
105,142


Charge for the year on owned assets
8,761



At 31 December 2023

113,903



Net book value



At 31 December 2023
61,308



At 31 December 2022
70,069



Page 6

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
375,826
362,999
738,825


Additions
51,009
9,504
60,513



At 31 December 2023

426,835
372,503
799,338



Depreciation


At 1 January 2023
227,012
311,326
538,338


Charge for the year on owned assets
21,342
15,294
36,636



At 31 December 2023

248,354
326,620
574,974



Net book value



At 31 December 2023
178,481
45,883
224,364



At 31 December 2022
148,814
51,673
200,487


6.


Debtors

2023
2022
£
£


Trade debtors
64,265
12,664

Other debtors
31,258
31,258

Prepayments and accrued income
93,210
57,664

188,733
101,586


Page 7

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
17,431
16,681

17,431
16,681



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
33,180
26,579

Other taxation and social security
265,164
148,204

Other creditors
332,135
497,105

Accruals and deferred income
8,495
5,995

648,974
687,883



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
17,500
27,500

Amounts owed to group undertakings
698,900
698,900

Other creditors
167,900
167,900

884,300
894,300


Page 8

 
CHARING CROSS THEATRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
7,500
17,500


7,500
17,500


27,500
37,500



11.


Related party transactions

Included in creditors falling due after more than one year is a loan of £698,900 due to the parent company Off Broadway Theatres UK Limited. Also included is a loan due to Binnington Properties Limited, a company controlled by C Freedman, a director of the company. G Jenkyns and V Williams, directors of the company, have also provided long term loans. Charing Cross Theatre Productions Limited and Capital Musicals Limited have also provided long term loans, companies controlled by Steven Levy and Sean Sweeney and Steven Levy respectfully who are both also directors of the company. 


12.


Controlling party

The company is controlled by its parent company Off Broadway Theatres UK Limited, a company registered in England & Wales, by virtue of its shareholding.

 
Page 9