Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-04-01falseThe principal activity of the company is the operation of a licensed bar, cafe and events business.3138truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 8804734 2023-04-01 2024-09-30 8804734 2022-04-01 2023-03-31 8804734 2024-09-30 8804734 2023-03-31 8804734 c:Director7 2023-04-01 2024-09-30 8804734 d:FurnitureFittings 2023-04-01 2024-09-30 8804734 d:FurnitureFittings 2024-09-30 8804734 d:FurnitureFittings 2023-03-31 8804734 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 8804734 d:OfficeEquipment 2023-04-01 2024-09-30 8804734 d:OfficeEquipment 2024-09-30 8804734 d:OfficeEquipment 2023-03-31 8804734 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 8804734 d:OwnedOrFreeholdAssets 2023-04-01 2024-09-30 8804734 d:CurrentFinancialInstruments 2024-09-30 8804734 d:CurrentFinancialInstruments 2023-03-31 8804734 d:Non-currentFinancialInstruments 2024-09-30 8804734 d:Non-currentFinancialInstruments 2023-03-31 8804734 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 8804734 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 8804734 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 8804734 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 8804734 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 8804734 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 8804734 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-30 8804734 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 8804734 d:ShareCapital 2024-09-30 8804734 d:ShareCapital 2023-03-31 8804734 d:RetainedEarningsAccumulatedLosses 2024-09-30 8804734 d:RetainedEarningsAccumulatedLosses 2023-03-31 8804734 c:FRS102 2023-04-01 2024-09-30 8804734 c:AuditExemptWithAccountantsReport 2023-04-01 2024-09-30 8804734 c:FullAccounts 2023-04-01 2024-09-30 8804734 c:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 8804734 e:PoundSterling 2023-04-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 8804734










TYNESIDE CINEMA TRADING CO. LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 18 MONTH PERIOD ENDED 30 SEPTEMBER 2024

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TYNESIDE CINEMA TRADING CO. LTD
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tyneside Cinema Trading Co. Ltd for the period ended 30 September 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Tyneside Cinema Trading Co. Ltd, as a body, in accordance with the terms of our engagement letter dated 7 February 2025Our work has been undertaken solely to prepare for your approval the financial statements of Tyneside Cinema Trading Co. Ltd and state those matters that we have agreed to state to the Board of Directors of Tyneside Cinema Trading Co. Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tyneside Cinema Trading Co. Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Tyneside Cinema Trading Co. Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tyneside Cinema Trading Co. Ltd. You consider that Tyneside Cinema Trading Co. Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Tyneside Cinema Trading Co. Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kinnair Associates Limited
 
Chartered Accountants
  
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB
28 April 2025
Page 1

 
TYNESIDE CINEMA TRADING CO. LTD
REGISTERED NUMBER: 8804734

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

30 September
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,179
76,683

  
44,179
76,683

Current assets
  

Stocks
  
15,956
21,053

Debtors: amounts falling due within one year
 5 
56,605
36,683

Cash at bank and in hand
  
64,621
261,586

  
137,182
319,322

Creditors: amounts falling due within one year
 6 
(343,455)
(611,470)

Net current liabilities
  
 
 
(206,273)
 
 
(292,148)

Total assets less current liabilities
  
(162,094)
(215,465)

Creditors: amounts falling due after more than one year
 7 
(42,455)
(58,333)

Provisions for liabilities
  

Deferred tax
  
(2,529)
(2,529)

  
 
 
(2,529)
 
 
(2,529)

Net liabilities
  
(207,078)
(276,327)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(207,079)
(276,328)

  
(207,078)
(276,327)


Page 2

 
TYNESIDE CINEMA TRADING CO. LTD
REGISTERED NUMBER: 8804734
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 April 2025.




S Nicolson
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is Newe House, 10 Pilgrim Street, Newcastle upon Tyne, NE1 6QG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

These financial statements are prepared using sterling which is the functional currency of the entity rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through cash generated from operations. The company made a profit of £69,249 during the 2024 financial year (2023 loss £59,330). At the year end the company had net current liabilities of £206,273 and net liabilities of £207,078. The company had external borrowings of £51,239 and has an intercompany balance owed to its parent company amounting to £74,877 (2023 £368,135) with cash in bank of £64,621 (2023 £261,586).
The company's forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account current trading and reasonable anticipated changes in trading performance.
Based on the factors set out above the directors believe that there is no material uncertainty in relation to going concern and that the company has adequate financial resources to continue in operational existence for at least twelve months from the date of signing the financial statements and therefore the directors believe it remains appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Revenue is recognised on the day on which food and drink is sold or on which an event is delivered.

 
2.4

Operating leases: the Company as lessee

The company shares premises with its parent charity.  Lease charges are made by the parent charity to the company in line with the underlying rent charged by the landlord on the commercial premises occupied by the company.  Lease charges are charged to the profit and loss account as they are incurred.

Page 4

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Fixtures and fittings
-
13 - 50% straight line
Office equipment
-
20 - 100% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the period was 31 (2023 - 38).


4.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
61,276
75,090
136,366


Additions
863
-
863



At 30 September 2024

62,139
75,090
137,229



Depreciation


At 1 April 2023
29,296
30,387
59,683


Charge for the period on owned assets
15,312
18,055
33,367



At 30 September 2024

44,608
48,442
93,050



Net book value



At 30 September 2024
17,531
26,648
44,179



At 31 March 2023
31,980
44,703
76,683

Page 7

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Debtors

30 September
31 March
2024
2023
£
£


Trade debtors
37,627
21,181

Other debtors
16,188
8,716

Prepayments and accrued income
2,790
6,786

56,605
36,683



6.


Creditors: Amounts falling due within one year

30 September
31 March
2024
2023
£
£

Bank loans
8,784
25,000

Trade creditors
51,765
86,979

Amounts owed to group undertakings
74,877
368,135

Other taxation and social security
118,048
58,389

Other creditors
2,971
660

Accruals and deferred income
87,010
72,307

343,455
611,470



7.


Creditors: Amounts falling due after more than one year

30 September
31 March
2024
2023
£
£

Bank loans
42,455
58,333

42,455
58,333


Page 8

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8.


Loans


Analysis of the maturity of loans is given below:


30 September
31 March
2024
2023
£
£

Amounts falling due within one year

Bank loans
8,784
25,000


8,784
25,000


Amounts falling due 2-5 years

Bank loans
35,135
58,333


35,135
58,333

Amounts falling due after more than 5 years

Bank loans
7,320
-

7,320
-

51,239
83,333


A £125,000 loan was taken out with HSBC under the Coronavirus Business Interruption Loan Scheme in July 2020. Repayment of this loan was over five years starting in August 2021. The interest rate is 3.99% over the bank of England base rate. The term of the loan was extended by four years in June 2024.
As part of the above loan agreement, HSBC have security held as follows: 
Debenture including fixed charge over all the present freehold and leasehold property;
First fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and
Fixed floating charge over all assets and undertakings both present and future dated 15 July 2020.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £2,115 (2023 - £62) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
TYNESIDE CINEMA TRADING CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10.


Parent and ultimate parent undertaking

The company's immediate parent is Tyneside Cinema, incorporated in England and Wales.
These financial statements are available upon request from Newe House, Pilgrim Street, Newcastle upon Tyne, NE1 6QG.
In the opinion of the directors, there is no ultimate controlling party other than the main charitable company's board of trustees themselves.

 
Page 10