REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Stockton Arts Centre (Trading) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Stockton Arts Centre (Trading) Limited |
Stockton Arts Centre (Trading) Limited (Registered number: 09490242) |
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 |
Stockton Arts Centre (Trading) Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Queens Lane |
Newcastle upon Tyne |
Tyne and Wear |
NE1 1RN |
Stockton Arts Centre (Trading) Limited (Registered number: 09490242) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account | 30,041 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Stockton Arts Centre (Trading) Limited (Registered number: 09490242) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Stockton Arts Centre (Trading) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group entities. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from bar sales, stated net of discounts and of value added tax. |
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company. |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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 and 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. |
Current and deferred tax assets and liabilities are not discounted. |
Employee benefits |
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. |
Stockton Arts Centre (Trading) Limited (Registered number: 09490242) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | ULTIMATE CONTROLLING PARTY |
Stockton Arts Centre (Trading) Limited is a wholly owned subsidiary of Stockton Arts Centre, an incorporated charity in England and Wales whose registered office is: |
Arc, |
Dovecot Street |
Stockton on Tees |
Tees Valley |
TS18 1LL |
Consolidated accounts for Stockton Arts Centre include the results for Stockton Arts Centre (Trading) Limited, and a copy is available from the address above. |