Headingley Enterprise And Arts Centre Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 06848581

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		851,884		879,977
Investments	5		23,765		23,765

			875,649		903,742
CURRENT ASSETS
Stocks	6	4,899		5,828
Debtors	7	23,535		19,908
Cash at bank and in hand		28,868		23,511

		57,302		49,247
Creditors: Amounts Falling Due Within One Year	8	(170,607 )		(119,049 )

NET CURRENT ASSETS (LIABILITIES)			(113,305 )		(69,802 )

TOTAL ASSETS LESS CURRENT LIABILITIES			762,344		833,940

Creditors: Amounts Falling Due After More Than One Year	9		(990,905 )		(998,033 )

NET LIABILITIES			(228,561 )		(164,093 )

Income and Expenditure Account			(228,561 )		(164,093 )

MEMBERS' FUNDS			(228,561)		(164,093)

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Headingley Enterprise And Arts Centre Ltd

Balance Sheet (continued)

As At 30 September 2024

For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

John Chandler

Director

22/04/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Headingley Enterprise And Arts Centre Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 06848581 . The registered office is Heart, Bennett Road, Leeds, LS6 3HN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The company is a public benefit entity as defined by FRSR102..

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Cafe sales are recognised on the day of receipt, and room hire and other sales are recognised on the day of the room hire or sale. Rental income is recognised over the period covered by the rental income on a straight line basis.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	2% straight line
Cafe Equipment	20% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	33% straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

There were no financial instruments other than basic financial instruments. Loans between group entities that are not on commercial terms are treated as public benefit entity concessionary loans, in accordance with FRS102. This means that the carrying value in the accounts is the amount originally received or paid for the loans, less any repayments, plus any accrued interest. The loans are not discounted.

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Headingley Enterprise And Arts Centre Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.6. Government Grant

Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.

All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was 28 (2023: 27)

4. Tangible Assets

	Land & Property
	Leasehold	Cafe Equipment	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 October 2023	1,162,156	54,298	85,833	35,208	1,337,495

As at 30 September 2024	1,162,156	54,298	85,833	35,208	1,337,495

Depreciation
As at 1 October 2023	294,099	49,373	79,011	35,035	457,518
Provided during the period	23,246	1,801	2,873	173	28,093

As at 30 September 2024	317,345	51,174	81,884	35,208	485,611

Net Book Value
As at 30 September 2024	844,811	3,124	3,949	-	851,884

As at 1 October 2023	868,057	4,925	6,822	173	879,977

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Headingley Enterprise And Arts Centre Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

5. Investments

	Subsidiaries
	£
Cost
As at 1 October 2023	23,765

As at 30 September 2024	23,765

Provision
As at 1 October 2023	-

As at 30 September 2024	-

Net Book Value
As at 30 September 2024	23,765

As at 1 October 2023	23,765

6. Stocks

	2024	2023
	£	£
Stock	4,899	5,828

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	11,911	14,146
Prepayments and accrued income	11,624	5,762

	23,535	19,908

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	24,299	12,461
Bank loans and overdrafts	5,801	5,658
Other taxes and social security	25,971	24,828
Net wages	25,016	-
Accruals and deferred income	56,335	43,101
Capital grants	18,074	18,074
Amounts owed to parent undertaking	15,111	14,927

	170,607	119,049

The amounts owed to parent undertaking are concessionary loans.

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Headingley Enterprise And Arts Centre Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	29,554	35,354
Capital grants	637,788	655,861
Amounts owed to parent undertaking	323,563	306,818

	990,905	998,033

The amounts owed to parent undertaking are concessionary loans.

10. Related Party Transactions

The company has a loan from its parent Headingley Development Trust Limited for £102,500 on which no interest is currently being charged. The loan is repayable in instalments from the year 2034 to the year 2039.

The company has a second loan from its parent for £260,000. This loan is at 3% and is repayable in instalments over the 15 years to 2034.

The company has a third loan from its parent of £10,000 given April 2022 on which no interest is charged. This is repayable before the end of 2027.

During the year the company recieved a third loan for £23,000 on which no interest is currently being charged. The loan is repayable installments within 12 months from its commencement.

Neither loan is secured.

These loans are treated as public benefit entity concessionary loans and are not discounted.

11. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

12. Ultimate Parent Undertaking and Controlling Party

The company's ultimate controlling party is Headingley Development Trust Limited . Thjis is a society registered in England and Wales. Copies of the group accounts may be obtained from the secretary, Bennett Road, Leeds, West Yorkshire, LS6 3HN.

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