Company registration number 07048660 (England and Wales)
THE RED CARPET CINEMA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
THE RED CARPET CINEMA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THE RED CARPET CINEMA LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,597,019
1,607,000
Current assets
Stocks
10,000
10,000
Debtors
4
6,402
6,574
Cash at bank and in hand
100,290
145,263
116,692
161,837
Creditors: amounts falling due within one year
5
(220,578)
(279,728)
Net current liabilities
(103,886)
(117,891)
Total assets less current liabilities
1,493,133
1,489,109
Creditors: amounts falling due after more than one year
6
(503,608)
(543,014)
Net assets
989,525
946,095
Capital and reserves
Called up share capital
1
1
Revaluation reserve
807,482
807,482
Own shares
1
1
Profit and loss reserves
182,041
138,611
Total equity
989,525
946,095
THE RED CARPET CINEMA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 14 March 2025
Mrs K A F Silverwood
Director
Company registration number 07048660 (England and Wales)
THE RED CARPET CINEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
The Red Carpet Cinema Limited is a private company limited by shares incorporated in England and Wales. The registered office is Barton Marina, Barton Under Needwood, Staffordshire, England, DE13 8AS.
1.1
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced cinema ticket income and bar and food sales.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and buildings
Not provided
Plant and equipment
15% on cost
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
Taxation for the year 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
Current tax is recognised by the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise form the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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
1.6
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.
THE RED CARPET CINEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.8
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
52
55
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
1,568,550
375,968
1,944,518
Additions
3,629
3,629
At 31 October 2024
1,568,550
379,597
1,948,147
Depreciation and impairment
At 1 November 2023
337,518
337,518
Depreciation charged in the year
13,610
13,610
At 31 October 2024
351,128
351,128
Carrying amount
At 31 October 2024
1,568,550
28,469
1,597,019
At 31 October 2023
1,568,550
38,450
1,607,000
THE RED CARPET CINEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,404
5,340
Other debtors
998
1,234
6,402
6,574
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
41,009
41,009
Trade creditors
39,866
45,551
Taxation and social security
53,498
62,172
Other creditors
86,205
130,996
220,578
279,728
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
457,608
497,014
Other creditors
46,000
46,000
503,608
543,014