Registered number
07940618
THE TOP SECRET COMEDY CLUB LIMITED
Filleted Accounts
29 February 2024
THE TOP SECRET COMEDY CLUB LIMITED
Registered number: 07940618
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 446,250 -
Tangible assets 4 206,881 146,081
653,131 146,081
Current assets
Debtors 5 131,207 73,422
Cash at bank and in hand 4,973,201 3,485,072
5,104,408 3,558,494
Creditors: amounts falling due within one year 6 (765,002) (408,155)
Net current assets 4,339,406 3,150,339
Total assets less current liabilities 4,992,537 3,296,420
Provisions for liabilities (10,473) (10,473)
Net assets 4,982,064 3,285,947
Capital and reserves
Share premium 100 100
Profit and loss account 4,981,964 3,285,847
Shareholder's funds 4,982,064 3,285,947
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
0
Director
Approved by the board on 17 February 2025
THE TOP SECRET COMEDY CLUB LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance method
Fixtures, fittings, tools and equipment 25% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 35 32
3 Intangible fixed assets £
Licence:
Cost
Additions 450,000
At 29 February 2024 450,000
Amortisation
Provided during the year 3,750
At 29 February 2024 3,750
Net book value
At 29 February 2024 446,250
Asset is being written off in equal annual instalments over its estimated economic life of 50 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 157,202 77,286 25,476 259,964
Additions - 65,044 18,083 83,127
At 29 February 2024 157,202 142,330 43,559 343,091
Depreciation
At 1 March 2023 52,401 44,704 16,778 113,883
Charge for the year 7,486 8,346 6,495 22,327
At 29 February 2024 59,887 53,050 23,273 136,210
Net book value
At 29 February 2024 97,315 89,280 20,286 206,881
At 28 February 2023 104,801 32,582 8,698 146,081
5 Debtors 2024 2023
£ £
Other debtors 131,207 73,422
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 712,707 389,477
Other creditors 52,295 18,678
765,002 408,155
7 Other information
THE TOP SECRET COMEDY CLUB LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
170a Drury Lane
London
England
WC2B 5PD
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