LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Company Registration No. 08287910 (England and Wales)
LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
17,285
18,393
Debtors
4
77,529
74,311
94,814
92,704
Creditors: amounts falling due within one year
5
-
0
(448)
Net current assets
94,814
92,256
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
94,813
92,255
Total equity
94,814
92,256

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 21 November 2024 and are signed on its behalf by:
M Clarke
Director
Company registration number 08287910 (England and Wales)
LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Liverpool Everyman And Playhouse Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Everyman Theatre, 5-11 Hope Street, Liverpool, L1 9BH.

2.1
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.

2.2
Going concern

In light of the current uncertain financial climate, the directors have carefully considered the financial projections to the end of March 202true5 to satisfy themselves of the financial resilience of the organisation over that period. In considering the appropriateness of the going concern basis of preparation, the directors have considered reduced trading performance as a direct result of the financial climate, the availability of bank facilities and forecasts over this period and a letter of support from the parent charity with regards to cash support, and not to recall intercompany balances while it overcomes the uncertainty posed by the current climate.

The Company is a wholly owned subsidiary of The Liverpool and Merseyside Theatres Trust Limited (“the Group” and “LMTT”) and that entity is its sole customer. The trustees of LMTT have indicated that they will continue to use the services of the Company for so long as LMTT requires trading services. The directors have also considered the positive going concern statement of the parent charity in their assessment of the viability of the organisation in such uncertain times. On this basis, the financial statements have been prepared on a going concern basis.

2.3
Turnover

Turnover is the revenue arising from the sales of services. It is stated at the fair value of the consideration receivable, net of value added tax, rebates and discounts. Turnover from the sale of services is recognised when the service has been discharged.

LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 3 -
2.4
Stocks

Stock is included at the lower of cost or selling price less costs to complete and sell. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow-moving items.

 

At each reporting date, the Group assesses whether stocks are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the statement of financial activities.

 

Reversals of impairment losses are also recognised in the statement of financial activities.

2.5
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.

2.6
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.

 

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument, and are offset only when the Company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

 

Financial assets

Trade, Group and other debtors

Trade debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

 

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Accounting policies
(Continued)
- 4 -
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.Equity instruments

Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

 

Trade, Group and other creditors

Trade creditors payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

 

De-recognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

2.7
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.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
6
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
77,529
74,311
LIVERPOOL EVERYMAN AND PLAYHOUSE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
-
0
448
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Andrew Moss BA FCA
Statutory Auditor:
DSG Audit
Date of audit report:
21 November 2024
7
Parent company

The parent company of Liverpool Everyman And Playhouse Trading Limited is The Liverpool and Merseyside Theatres Trust Limited and its registered office is the Everyman Theatre, 5-11 Hope Street, Liverpool L1 9BH..

The ultimate controlling party is the parent company, The Liverpool and Merseyside Theatres Trust Limited and its registered office is the Everyman Theatre, 5-11 Hope Street, Liverpool L1 9BH.

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