IRIS Accounts Production v24.3.0.553 14749618 director 22.3.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh147496182023-03-21147496182024-08-31147496182023-03-222024-08-31147496182023-03-2114749618ns15:EnglandWales2023-03-222024-08-3114749618ns14:PoundSterling2023-03-222024-08-3114749618ns10:Director12023-03-222024-08-3114749618ns10:PrivateLimitedCompanyLtd2023-03-222024-08-3114749618ns10:SmallEntities2023-03-222024-08-3114749618ns10:AuditExemptWithAccountantsReport2023-03-222024-08-3114749618ns10:SmallCompaniesRegimeForDirectorsReport2023-03-222024-08-3114749618ns10:SmallCompaniesRegimeForAccounts2023-03-222024-08-3114749618ns10:FullAccounts2023-03-222024-08-3114749618ns10:RegisteredOffice2023-03-222024-08-3114749618ns5:CurrentFinancialInstruments2024-08-3114749618ns5:Non-currentFinancialInstruments2024-08-3114749618ns5:ShareCapital2024-08-3114749618ns5:RetainedEarningsAccumulatedLosses2024-08-3114749618ns5:LeaseholdImprovements2023-03-222024-08-3114749618ns5:PlantMachinery2023-03-222024-08-3114749618ns5:FurnitureFittings2023-03-222024-08-3114749618ns5:ComputerEquipment2023-03-222024-08-3114749618ns5:OwnedAssets2023-03-222024-08-3114749618ns5:LeaseholdImprovements2024-08-3114749618ns5:PlantMachinery2024-08-3114749618ns5:FurnitureFittings2024-08-3114749618ns5:ComputerEquipment2024-08-3114749618ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31
REGISTERED NUMBER: 14749618 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Period 22 March 2023 to 31 August 2024

for

The Exchange 1856 Limited

The Exchange 1856 Limited (Registered number: 14749618)






Contents of the Financial Statements
for the Period 22 March 2023 to 31 August 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


The Exchange 1856 Limited

Company Information
for the Period 22 March 2023 to 31 August 2024







DIRECTOR: P M Stonebanks





REGISTERED OFFICE: The Exchange 1856 Howard Street
North Shields
United Kingdom
NE30 1SE





REGISTERED NUMBER: 14749618 (England and Wales)





ACCOUNTANTS: Essell Accountants Limited
29 Howard Street
North Shields
Tyne and Wear
NE30 1AR

The Exchange 1856 Limited (Registered number: 14749618)

Report of the Director
for the Period 22 March 2023 to 31 August 2024

The director presents his report with the financial statements of the company for the period 22 March 2023 to 31 August 2024.

INCORPORATION
The company was incorporated on 22 March 2023 and commenced trading on the same date.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of managing a multi purpose property creating a venue for food, drinks, live music, events, celebrations, weddings, fitness and working.

DIRECTOR
P M Stonebanks was appointed as a director on 22 March 2023 and held office during the whole of the period from then to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P M Stonebanks - Director


2 December 2024

The Exchange 1856 Limited (Registered number: 14749618)

Income Statement
for the Period 22 March 2023 to 31 August 2024

Notes £   

TURNOVER 677,873

Cost of sales 322,026
GROSS PROFIT 355,847

Administrative expenses 663,548
OPERATING LOSS 4 (307,701 )

Interest receivable and similar income 54
LOSS BEFORE TAXATION (307,647 )

Tax on loss -
LOSS FOR THE FINANCIAL PERIOD (307,647 )

The Exchange 1856 Limited (Registered number: 14749618)

Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Tangible assets 5 952,709

CURRENT ASSETS
Stocks 11,000
Debtors 6 52,046
Cash at bank and in hand 20,374
83,420
CREDITORS
Amounts falling due within one year 7 215,604
NET CURRENT LIABILITIES (132,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

820,525

CREDITORS
Amounts falling due after more than one year 8 1,128,072
NET LIABILITIES (307,547 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (307,647 )
SHAREHOLDERS' FUNDS (307,547 )

The Exchange 1856 Limited (Registered number: 14749618)

Balance Sheet - continued
31 August 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





P M Stonebanks - Director


The Exchange 1856 Limited (Registered number: 14749618)

Notes to the Financial Statements
for the Period 22 March 2023 to 31 August 2024

1. STATUTORY INFORMATION

The Exchange 1856 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4. OPERATING LOSS

The operating loss is stated after charging:

£   
Depreciation - owned assets 83,880

The Exchange 1856 Limited (Registered number: 14749618)

Notes to the Financial Statements - continued
for the Period 22 March 2023 to 31 August 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
Additions 650,975 269,436 91,668 24,510 1,036,589
At 31 August 2024 650,975 269,436 91,668 24,510 1,036,589
DEPRECIATION
Charge for period 51,070 21,220 8,632 2,958 83,880
At 31 August 2024 51,070 21,220 8,632 2,958 83,880
NET BOOK VALUE
At 31 August 2024 599,905 248,216 83,036 21,552 952,709

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 20,270
Other debtors 31,776
52,046

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 45,626
Other creditors 169,978
215,604

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Other creditors 1,128,072