Company Registration No. 14552381 (England and Wales)
Upper Pantiles Events Limited
Unaudited accounts
for the year ended 31 December 2024
Upper Pantiles Events Limited
Unaudited accounts
Contents
Upper Pantiles Events Limited
Company Information
for the year ended 31 December 2024
Directors
Ardeshir Naghshineh
Corin Leonard Thoday
Company Number
14552381 (England and Wales)
Registered Office
Upper Pantiles Events Limited
12-16 The Pantiles
Tunbridge Wells
Kent
TN2 5TN
England
Upper Pantiles Events Limited
Statement of financial position
as at 31 December 2024
Intangible assets
47,905
35,687
Tangible assets
37,116
15,370
Cash at bank and in hand
16,249
4,367
Creditors: amounts falling due within one year
(180,109)
(73,514)
Net current liabilities
(155,464)
(60,210)
Total assets less current liabilities
(70,443)
(9,153)
Creditors: amounts falling due after more than one year
(81,592)
(102,748)
Net liabilities
(152,035)
(111,901)
Profit and loss account
(152,035)
(111,901)
Shareholders' funds
(152,035)
(111,901)
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by
Corin Leonard Thoday
Director
Company Registration No. 14552381
Upper Pantiles Events Limited
Notes to the Accounts
for the year ended 31 December 2024
Upper Pantiles Events Limited is a private company, limited by shares, registered in England and Wales, registration number 14552381. The registered office is Upper Pantiles Events Limited, 12-16 The Pantiles, Tunbridge Wells, Kent, TN2 5TN, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
During the year, the company made a loss of £40,134.
At the end of the year the company owed a total of £114,550 to related parties.
During the year, the company renegotiated the licence granted by Targetfollow (Pantiles) Limited, a company under common control, which allows its operation of markets and events at The Upper Pantiles. In addition, companies within the group provided funding of £75,000 to the company.
The company continues to work with Targetfollow (Pantiles) Limited as site owner, local residents and local businesses, to remain considerate of the local living environment and contribute to the business ecosystem at The Pantiles. The company has developed a fresh schedule of events for 2025 and based on this schedule of events, the company has produced business plans and projections showing that it will generate sufficient revenue to meet its obligations for the foreseeable future.
Based on the above, the directors consider that it is appropriate to prepare the financial statements on a going concern basis
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight Line
Computer equipment
33.33% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Upper Pantiles Events Limited
Notes to the Accounts
for the year ended 31 December 2024
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Intangible fixed assets
Other
At 31 December 2024
65,000
Charge for the year
12,782
At 31 December 2024
17,095
At 31 December 2024
47,905
At 31 December 2023
35,687
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
20,102
814
20,916
At 31 December 2024
48,819
814
49,633
At 1 January 2024
5,385
161
5,546
Charge for the year
6,700
271
6,971
At 31 December 2024
12,085
432
12,517
At 31 December 2024
36,734
382
37,116
At 31 December 2023
14,717
653
15,370
Amounts falling due within one year
Accrued income and prepayments
2,500
5,416
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
75,101
29,026
Amounts owed to group undertakings and other participating interests
114,650
42,000
Taxes and social security
(10,538)
1,681
Upper Pantiles Events Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Creditors: amounts falling due after more than one year
2024
2023
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Transactions with related parties
Under section 33.1A of FRS 102 Section 1A Small Entities, the Company is not obliged to disclose transactions between members of other group companies where group accounts are prepared.
During the year, recharges and fees of £9,240 (2023: £15,350) were charged by Targetfollow Estates Limited, a company controlled by Ardeshir Naghshineh. At the end of the period, Upper Pantiles Events Limited held a debtors balance of £3,912 ( 2023: £2,192) with Targetfollow Estates Limited. A further £30,540 ( 2023: £24,540) of fees and recharges due to Targetfollow Estates Limited have been accrued for.
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is the director and shareholder of Targetfollow Group Limited, A Naghshineh.
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Average number of employees
During the year the average number of employees was 0 (2023: 0).