Registration number:
Grain Events Limited
for the Year Ended 31 March 2024
Grain Events Limited
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Grain Events Limited
(Registration number: 12356529)
Abridged Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
- |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
- |
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Total equity |
( |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr S A Middle
Director
Grain Events Limited
Notes to the Abridged Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales (registered number 12356529).
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The Directors have considered the ability of the company to meet its liabilities as they fall due and given the nature of the sector, have sufficient liquidity to satisfy its creditors.
Audit report
Revenue recognition
The company generates revenue through ticket sales for events. The company recognises revenue when the company has completed its performance obligations in facilitating the event, the amount of revenue can be reliably measured and it is probable that the economic benefits will flow to the company. Payments received for ticket sales prior to the event date are recorded as deferred revenue on the balance sheet.
Tax
The tax expense for the period comprises current and deferred 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 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Grain Events Limited
Notes to the Abridged Financial Statements for the Year Ended 31 March 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Related party transactions |
The company has taken advantage of the exemption available under Section 33 of FRS 102 Related Party Disclosures, and has not disclosed transactions or balances with related parties that are part of the group. This is on the grounds that it is a wholly-owned subsidiary of Frome Cheese & Grain Limited, which prepares consolidated financial statements that are publicly available and include the results of the company.
The consolidated financial statements of Frome Cheese & Grain can be accessed online at Companies House.
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Cheese and Grain, Market Yard, Frome, Somerset, England, BA11 1BE.