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COMPANY REGISTRATION NUMBER: 06764121
ALLENHEADS CONTEMPORARY ARTS LIMITED
COMPANY LIMITED BY GUARANTEE
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 March 2024
ALLENHEADS CONTEMPORARY ARTS LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 30th MARCH 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 4
ALLENHEADS CONTEMPORARY ARTS LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 March 2024
2024
2023
Note
£
£
£
£
CURRENT ASSETS
Debtors
7
3,465
1,172
Cash at bank and in hand
10,647
25,994
---------
---------
14,112
27,166
CREDITORS: amounts falling due within one year
8
1,520
1,801
---------
---------
NET CURRENT ASSETS
12,592
25,365
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
12,592
25,365
---------
---------
NET ASSETS
12,592
25,365
---------
---------
CAPITAL AND RESERVES
Accumulated reserves
12,592
25,365
---------
---------
MEMBERS FUNDS
12,592
25,365
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ALLENHEADS CONTEMPORARY ARTS LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
A. H. Smith
Director
Company registration number: 06764121
ALLENHEADS CONTEMPORARY ARTS LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Old School House, Allenheads, Hexham, Northumberland, NE47 9HR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.
Revenue recognition
The income shown in the income statement represents creative residency income, amounts invoiced for project work, ticket sales and grant income received during the year.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee and as such has no share capital. In the event of the winding up of the company the members liability will be limited to £1.00.
5. EMPLOYEE NUMBERS
The company had no employees during the current or previous financial year.
6. TAXATION
The company does not generate a trading surplus and as a result is not liable to pay any corporation tax.
7. DEBTORS
2024
2023
£
£
The Centre at Allenheads
3,465
1,172
-------
-------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,520
1,801
-------
-------
9. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A smaller entities.