Silverfin false false 31/03/2024 01/04/2023 31/03/2024 E Marr 18/03/2020 J Marr 18/03/2020 05 November 2024 The principal activity of the Company during the financial year was the sale of hospitality packages. 12524344 2024-03-31 12524344 bus:Director1 2024-03-31 12524344 bus:Director2 2024-03-31 12524344 2023-03-31 12524344 core:CurrentFinancialInstruments 2024-03-31 12524344 core:CurrentFinancialInstruments 2023-03-31 12524344 core:ShareCapital 2024-03-31 12524344 core:ShareCapital 2023-03-31 12524344 core:RetainedEarningsAccumulatedLosses 2024-03-31 12524344 core:RetainedEarningsAccumulatedLosses 2023-03-31 12524344 core:OtherPropertyPlantEquipment 2023-03-31 12524344 core:OtherPropertyPlantEquipment 2024-03-31 12524344 2023-04-01 2024-03-31 12524344 bus:FilletedAccounts 2023-04-01 2024-03-31 12524344 bus:SmallEntities 2023-04-01 2024-03-31 12524344 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12524344 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12524344 bus:Director1 2023-04-01 2024-03-31 12524344 bus:Director2 2023-04-01 2024-03-31 12524344 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12524344 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 12524344 (England and Wales)

ALBION EVENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ALBION EVENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ALBION EVENTS LIMITED

BALANCE SHEET

As at 31 March 2024
ALBION EVENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 725 718
725 718
Current assets
Debtors 4 1,403,229 926,158
Cash at bank and in hand 176,519 89,027
1,579,748 1,015,185
Creditors: amounts falling due within one year 5 ( 1,526,577) ( 969,617)
Net current assets 53,171 45,568
Total assets less current liabilities 53,896 46,286
Net assets 53,896 46,286
Capital and reserves
Called-up share capital 30 30
Profit and loss account 53,866 46,256
Total shareholders' funds 53,896 46,286

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Albion Events Limited (registered number: 12524344) were approved and authorised for issue by the Board of Directors on 05 November 2024. They were signed on its behalf by:

E Marr
Director
ALBION EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ALBION EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Albion Events Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises current 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 corporation 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

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

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The
exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Fair value measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 1,614 1,614
Additions 219 219
At 31 March 2024 1,833 1,833
Accumulated depreciation
At 01 April 2023 896 896
Charge for the financial year 212 212
At 31 March 2024 1,108 1,108
Net book value
At 31 March 2024 725 725
At 31 March 2023 718 718

4. Debtors

2024 2023
£ £
Trade debtors 460,790 262,745
Other debtors 942,439 663,413
1,403,229 926,158

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 155,714 143,992
Taxation and social security 110,590 61,256
Other creditors 1,260,273 764,369
1,526,577 969,617

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by directors 72,424 74,204

During the year the company made advances totalling of £99,035 (2023 - £74,204) to the directors and repayments totalling £100,815 (2023 - Nil).

The loan to the directors is unsecured, interest free and repayable on demand.