Company registration number 03324153 (England and Wales)
THE ENTERTAINMENT BUSINESS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
THE ENTERTAINMENT BUSINESS LIMITED
COMPANY INFORMATION
Director
Miss J Benjamin
Company number
03324153
Registered office
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE ENTERTAINMENT BUSINESS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
Notes to the financial statements
4 - 6
THE ENTERTAINMENT BUSINESS LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ENTERTAINMENT BUSINESS LIMITED FOR THE YEAR ENDED 29 FEBRUARY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Entertainment Business Limited for the year ended 29 February 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.
It is your duty to ensure that The Entertainment Business Limited 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 The Entertainment Business Limited. You consider that The Entertainment Business Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Entertainment Business Limited. 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.
Theataccounts Limited
15 May 2025
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE ENTERTAINMENT BUSINESS LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,568
2,091
Current assets
Debtors
4
28,118
30,543
Cash at bank and in hand
1,018
2,727
29,136
33,270
Creditors: amounts falling due within one year
Taxation and social security
15,185
16,639
Accruals and deferred income
2,750
1,950
17,935
18,589
Net current assets
11,201
14,681
Total assets less current liabilities
12,769
16,772
Creditors: amounts falling due after more than one year
Loans and overdrafts
12,236
16,120
(12,236)
(16,120)
Net assets
533
652
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
433
552
Total equity
533
652
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE ENTERTAINMENT BUSINESS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Miss J Benjamin
Director
Company registration number 03324153 (England and Wales)
THE ENTERTAINMENT BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
1
Accounting policies
Company information
The Entertainment Business Limited is a private company limited by shares incorporated in England and Wales. The registered office is Theataccounts Limited, The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE ENTERTAINMENT BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
1
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 March 2023 and 29 February 2024
12,248
Depreciation and impairment
At 1 March 2023
10,157
Depreciation charged in the year
523
At 29 February 2024
10,680
Carrying amount
At 29 February 2024
1,568
At 28 February 2023
2,091
THE ENTERTAINMENT BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
28,118
30,543
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
12,548
11,978
Other taxation and social security
2,637
4,661
Accruals and deferred income
2,750
1,950
17,935
18,589
6
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
12,236
16,120
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
7
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Ultimate controlling party
The ultimate controlling party is Miss J Benjamin.