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REGISTERED NUMBER: 01843151 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

The Comedy Store Limited

The Comedy Store Limited (Registered number: 01843151)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Comedy Store Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr R C Ward
Miss N Ward
Mr S Ward
Miss C Ward
Mrs S Ward





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: 1A Oxendon Street
Haymarket
London
SW1Y 4EE





REGISTERED NUMBER: 01843151 (England and Wales)

The Comedy Store Limited (Registered number: 01843151)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 244,875 247,350
Investments 6 1 1
244,876 247,351

CURRENT ASSETS
Stocks 14,386 15,829
Debtors 7 555,877 422,636
Cash at bank and in hand 1,060,520 1,465,300
1,630,783 1,903,765
CREDITORS
Amounts falling due within one year 8 930,223 924,958
NET CURRENT ASSETS 700,560 978,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,436

1,226,158

CREDITORS
Amounts falling due after more than one
year

9

153,060

415,625
NET ASSETS 792,376 810,533

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 792,286 810,443
SHAREHOLDERS' FUNDS 792,376 810,533

The Comedy Store Limited (Registered number: 01843151)

Balance Sheet - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





Mr R C Ward - Director


The Comedy Store Limited (Registered number: 01843151)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

The Comedy Store Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Building and fit out costs - over the remaining life of the lease
Refurbishment costs written off - over the remaining life of the lease
Bar and shelving - over the remaining life of the lease
Furniture and office equipment - 15% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiaries are valued at cost less provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The Comedy Store Limited (Registered number: 01843151)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, 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.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The Comedy Store Limited (Registered number: 01843151)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 42 ) .

5. TANGIBLE FIXED ASSETS
Refurbishment
Building costs
and fit written Bar and
out costs off shelving
£    £    £   
COST
At 1 August 2023 12,093 833,183 53,017
Additions - - -
At 31 July 2024 12,093 833,183 53,017
DEPRECIATION
At 1 August 2023 12,093 695,226 53,017
Charge for year - 12,285 -
At 31 July 2024 12,093 707,511 53,017
NET BOOK VALUE
At 31 July 2024 - 125,672 -
At 31 July 2023 - 137,957 -

Furniture
and
office Computer
equipment equipment Totals
£    £    £   
COST
At 1 August 2023 278,927 64,236 1,241,456
Additions 28,768 3,806 32,574
At 31 July 2024 307,695 68,042 1,274,030
DEPRECIATION
At 1 August 2023 180,435 53,335 994,106
Charge for year 19,087 3,677 35,049
At 31 July 2024 199,522 57,012 1,029,155
NET BOOK VALUE
At 31 July 2024 108,173 11,030 244,875
At 31 July 2023 98,492 10,901 247,350

The Comedy Store Limited (Registered number: 01843151)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Comedy Store (Manchester) Limited
Registered office: Lewis House, Great Chesterford Court, Great Chesterford, Essex CB10 1PF
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,027 1,027

The Comedy Store (Manchester) Limited is currently being liquidated.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 106,147 74,059
Other debtors 237,596 27,251
Prepayments and accrued income 212,134 321,326
555,877 422,636

Included within other debtors is £90,780 (2023: £27,251) relating to online ticket sales not yet received, £146,666 (2023: £nil) relating to business rates refund for the year and £150 (2023: £nil) relating to other debtors.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 262,500 262,500
Trade creditors 324,426 321,730
Amounts owed to group undertakings 1,027 1,027
Taxation and social security 64,946 50,034
Other creditors 277,324 289,667
930,223 924,958

The Comedy Store Limited (Registered number: 01843151)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within other creditors disclosed above is a balance of £122,218 (2023 - £123,889) in relation to accrued expenses and deferred income, a balance of £112 (2023 - £318) in relation to the Director's loan account, a balance of £67,298 (2023 - £71,741) in relation to unredeemed gift vouchers, a balance of £41,016 (2023 - £50,542) in relation to customer cash held on account, a balance of £930 (2023 - £930) in relation to deposits held and a balance of £45,750 (2023 - £42,247) in relation to other creditors.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 153,060 415,625

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 435,000 435,000
Between one and five years 1,740,000 1,740,000
In more than five years 1,921,250 2,356,250
4,096,250 4,531,250

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R C Ward.

During both the current and prior year, Mr R C Ward owned 100% of the issued share capital in the company and held the position of managing director. He is therefore deemed to be the ultimate controlling party of the company.