REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Leith Theatre Trading Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Leith Theatre Trading Limited |
Leith Theatre Trading Limited (Registered number: SC693953) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Leith Theatre Trading Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
60 Constitution Street |
Edinburgh |
EH6 6RR |
Leith Theatre Trading Limited (Registered number: SC693953) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 profit or loss 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. |
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 |
Leith Theatre Trading Limited (Registered number: SC693953) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Leith Theatre Trading Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 balance sheet date. |
Leith Theatre Trading Ltd pays all trading profits for the reporting period to its parent charily (Leith Theatre Trust) under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings. |
At the reporting date there was no legal obligation in place for the company to make this gift aid payment, although prior to the reporting date the board had indicated its intention to pay the taxable profits to the parent charity in respect of the reporting period. The payment is planned to be made within 9 months of the reporting date. |
Tax relief on gift aid payments is recognised in the reporting period in which the profits arise. |
Measurement of debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. |
Creditors |
Creditors are recognised where the charity has a present obligation resulting form a past event that will probably result in the transfer of funds to at third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Leith Theatre Trading Limited (Registered number: SC693953) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
During the year Leith Theatre Trading Limited were invoiced £2,165 (2023: £79,268 plus VAT) by Leith Theatre Trust (the parent company) for use of the Theatre, staff and resources. |
At the year end a creditor balance of £2,365 (2023: £11,632) is outstanding. |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
Leith Theatre Trading Limited is a wholly owned subsidiary of Leith Theatre Trust (Registered Company Number: SC338846; Registered Charity Number: SC042359) |