REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
West Coast Cinemas LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
West Coast Cinemas LLP |
West Coast Cinemas LLP (Registered number: SO303599) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
West Coast Cinemas LLP |
General Information |
for the Period 1 January 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bank Chambers |
31 The Square |
Cumnock |
Ayrshire |
KA18 1AT |
West Coast Cinemas LLP (Registered number: SO303599) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
509 |
559 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
509 |
559 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 509 | 559 |
Amounts due from members | 6 | (177,488 | ) | (78,165 | ) |
(176,979 | ) | (77,606 | ) |
West Coast Cinemas LLP (Registered number: SO303599) |
Balance Sheet - continued |
31 March 2024 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
The financial statements were approved by the members of the LLP and authorised for issue on |
West Coast Cinemas LLP (Registered number: SO303599) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
West Coast Cinemas LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the net invoiced value of goods sold and services provided in the course of ordinary activities, excluding value added tax. |
Intangible assets |
Depreciation is provided on all intangible assets based over its expected useful life. Amortisation is provided at a rate of 33.33% per annum on cost. |
Tangible fixed assets |
Land | Not depreciated |
Heritable property | 4% straight line |
Fixtures and fittings | 10% straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Accounting period |
The Partnership extended it's financial year end to 31 March 2024. |
The accounts presented cover the 15 month period from 1 January 2023 to 31 March 2024. |
Comparative amounts relate to the year ended 31 December 2022. |
Grants |
Grants are not recognised until there is reasonable assurance that: |
a) West Coast Cinemas LLP will comply with the conditions attaching to the grants; and |
b) The grants will be received. |
Once recognised, grants are assessed as to whether they are capital or revenue in nature. |
Grants which relate to capital are credited to a deferral account and recognised as income on a systematic basis over the expected useful lifetime of the asset to which they relate. |
Grants which relate to revenue are credited to a deferral account and recognised as income on a systematic basis over the periods in which the related costs, for which the grant is intended to compensate, is recognised. |
West Coast Cinemas LLP (Registered number: SO303599) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 January 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
Included in cost of land and buildings is freehold land of £ 5,000 (2022 - £ 5,000 ) which is not depreciated. |
The members have determined that the residual value of heritable property is greater than the value at which it was acquired, and accordingly no depreciation has been charged in respect of heritable property in these accounts. |
The members believe that the costs of obtaining suitable professional valuations to support their view is not economic and accordingly these accounts have not been prepared in this respect in accordance with the requirements of Financial Reporting Standard 102 including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships |
West Coast Cinemas LLP (Registered number: SO303599) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.12.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 5,548 | 5,548 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.12.22 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.12.22 |
£ | £ |
Bank loans |
Bank loans are secured by bond and floating charge over the assets of West Coast Cinemas LLP. |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Included in Current Liabilities are amounts due to members totalling £28,718 which rank pari passu with other creditors. |
11. | OTHER FINANCIAL COMMITMENTS |
The rental obligation of the Greenock cinema provides for a £45,000 per annum rental charge. A novated lease agreement is currently under review. No review period has currently been set. |