Acorah Software Products - Accounts Production 16.4.675 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 10940099 Mr Oliver Royds Mr Tristan Michael Douglas Baker Troubadour Theatres Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10940099 2023-08-31 10940099 2024-08-31 10940099 2023-09-01 2024-08-31 10940099 frs-core:CurrentFinancialInstruments 2024-08-31 10940099 frs-core:Non-currentFinancialInstruments 2024-08-31 10940099 frs-core:ComputerEquipment 2024-08-31 10940099 frs-core:ComputerEquipment 2023-09-01 2024-08-31 10940099 frs-core:ComputerEquipment 2023-08-31 10940099 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 10940099 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 10940099 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 10940099 frs-core:FurnitureFittings 2024-08-31 10940099 frs-core:FurnitureFittings 2023-09-01 2024-08-31 10940099 frs-core:FurnitureFittings 2023-08-31 10940099 frs-core:PlantMachinery 2024-08-31 10940099 frs-core:PlantMachinery 2023-09-01 2024-08-31 10940099 frs-core:PlantMachinery 2023-08-31 10940099 frs-core:ShareCapital 2024-08-31 10940099 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 10940099 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10940099 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 10940099 frs-bus:SmallEntities 2023-09-01 2024-08-31 10940099 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10940099 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10940099 frs-bus:OrdinaryShareClass2 2023-09-01 2024-08-31 10940099 frs-bus:OrdinaryShareClass2 2024-08-31 10940099 1 2023-09-01 2024-08-31 10940099 frs-bus:Director1 2023-09-01 2024-08-31 10940099 frs-bus:Director1 2023-08-31 10940099 frs-bus:Director1 2024-08-31 10940099 frs-bus:Director2 2023-09-01 2024-08-31 10940099 frs-core:CurrentFinancialInstruments 1 2024-08-31 10940099 frs-core:CurrentFinancialInstruments 2 2024-08-31 10940099 frs-countries:EnglandWales 2023-09-01 2024-08-31 10940099 2022-08-31 10940099 2023-08-31 10940099 2022-09-01 2023-08-31 10940099 frs-core:CurrentFinancialInstruments 2023-08-31 10940099 frs-core:Non-currentFinancialInstruments 2023-08-31 10940099 frs-core:ShareCapital 2023-08-31 10940099 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 10940099 frs-bus:OrdinaryShareClass2 2022-09-01 2023-08-31 10940099 frs-core:CurrentFinancialInstruments 1 2023-08-31 10940099 frs-core:CurrentFinancialInstruments 2 2023-08-31
Registered number: 10940099
Wembley Park Theatre Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10940099
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,520 4,160
Tangible Assets 5 781,126 1,195,654
784,646 1,199,814
CURRENT ASSETS
Debtors 6 6,392,541 3,914,393
Cash at bank and in hand 9,459 1,032
6,402,000 3,915,425
Creditors: Amounts Falling Due Within One Year 7 (1,685,786 ) (1,953,441 )
NET CURRENT ASSETS (LIABILITIES) 4,716,214 1,961,984
TOTAL ASSETS LESS CURRENT LIABILITIES 5,500,860 3,161,798
Creditors: Amounts Falling Due After More Than One Year 8 (7,948,402 ) (3,557,259 )
NET LIABILITIES (2,447,542 ) (395,461 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (2,447,642 ) (395,561 )
SHAREHOLDERS' FUNDS (2,447,542) (395,461)
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For the year ending 31 August 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 Profit and Loss Account.
On behalf of the board
Mr Oliver Royds
Director
4 August 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wembley Park Theatre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10940099 . The registered office is Troubadour Wembley Park Theatre, 3 Fulton Road, Wembley, HA9 0SP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Website Development Costs. It is amortised to profit and loss account over its estimated economic life of ten years.
2.5. 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:
Theatre Build Costs 7 years
Fixtures & Fittings 25% - Straight line method
Computer Equipment 25% - Straight Line method
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 74 (2023: 82)
74 82
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2023 6,400
As at 31 August 2024 6,400
Amortisation
As at 1 September 2023 2,240
Provided during the period 640
As at 31 August 2024 2,880
...CONTINUED
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Net Book Value
As at 31 August 2024 3,520
As at 1 September 2023 4,160
5. Tangible Assets
Theatre Build Costs Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 3,367,347 192,946 29,134 3,589,427
Additions - 104,308 2,776 107,084
As at 31 August 2024 3,367,347 297,254 31,910 3,696,511
Depreciation
As at 1 September 2023 2,238,893 128,404 26,476 2,393,773
Provided during the period 481,050 39,163 1,399 521,612
As at 31 August 2024 2,719,943 167,567 27,875 2,915,385
Net Book Value
As at 31 August 2024 647,404 129,687 4,035 781,126
As at 1 September 2023 1,128,454 64,542 2,658 1,195,654
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 927,624 519,389
Prepayments and accrued income 28,055 29,575
Quintain Deposit 60,000 60,000
1,015,679 608,964
Due after more than one year
Amounts owed by group undertakings 5,376,862 3,305,429
6,392,541 3,914,393
Included in Amounts owed by group undertakings a balance of £1,717,657 (2023: £1,693,862) which is owed by White City Theatres Limited (Company No.11294334), balance of £1,053,508 (2023: £1,023,528) which is owed by Troubadour Asset management Limited (Company No.11717983), balance of £2,360,878 (2023: £588,040) which is owed by Meridian Water Studios Limited (Company No. 12527635), balance of £224,818 (2023: -£524,534) which is owed by Brent Cross Studio (Company No. 13322891).
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 987,189 1,349,799
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 84,030 133,803
VAT 227,886 286,738
Other creditors 50,000 45,633
Pension liability 13,265 15,275
Credit Card 48 1,426
Accruals and deferred income 313,368 60,767
Directors' loan accounts - 50,000
1,685,786 1,953,441
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,667 26,667
Other creditors 7,876,000 1,713,000
Amounts owed to group undertakings 55,735 1,817,592
7,948,402 3,557,259
Included in Amounts owed to group undertakings is a balance of £55,735 (2023 : £1,293,058) which is owed to Troubadour Theatres Limited (Company No.10898810).
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary A shares of £ 1.000 each 100 100
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Oliver Royds (50,000 ) 50,000 - - -
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
Included within Head Office Costs is an amount of £600,000, charged by Troubdour Theatres Ltd, which is the holding company of Wembley Park Theatres Ltd.
12. Ultimate Controlling Party
The company's ultimate controlling party is Troubadour Theatres Ltd by virtue of its ownership of 100% of the issued share capital in the company.
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