ACCOUNTS - Final Accounts preparation

Registered number: 14423388

LONDON CITY BALLET LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 16 JULY 2025

LONDON CITY BALLET LIMITED

REGISTERED NUMBER: 14423388

STATEMENT OF FINANCIAL POSITION

AS AT 16 JULY 2025

	16 July	31 October
	2025	2024
Note	£	£


Current assets
Stocks	5	321,951		-
Debtors: amounts falling due within one year	6	126,795		160,089
Cash at bank and in hand		11,949		41,226
		460,695		201,315
Creditors: amounts falling due within one year	7	(508,451)		(363,602)
Net current liabilities			(47,756)		(162,287)
Total assets less current liabilities			(47,756)		(162,287)

Net liabilities			(47,756)		(162,287)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(47,757)	(162,288)
	(47,756)	(162,287)

The director considers 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 director acknowledges his 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 3 September 2025.

C Smith

Director

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LONDON CITY BALLET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 16 JULY 2025

1.	General information

London City Ballet Limited is a private company limited by shares incorporated in the United Kingdom. The address of its registered office is 27 Old Gloucester Street, London, England, WC1N 3AX.

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.

Functional and presentation currency
The Company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

2.2

Reporting period

The Company has operated for 9 months during the current reporting period whereas the prior year is only showing results for 12 months. The amounts reported in these financial statements for both periods are therefore not comparable.

2.3

Going concern

The company is showing net liabilities at the reporting date. In order to continue trading it is dependent on the continued financial support from the company director who has confirmed his intention to continue his support for the foreseeable future. On these grounds, the director considers it appropriate to prepare the financial statements on a going concern basis.

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LONDON CITY BALLET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 16 JULY 2025

2.Accounting policies (continued)

2.4

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 comprises the following:
Classes and workshop income
Revenue relating to the provision of classes and workshops is recognised when they take place. Income received in advance is deferred at the reporting date as applicable.
Box office and merchandise income
Turnover from the sale of theatre tickets is recognised on the date the performance takes place. Turnover generated from the sale of merchandise is recognised on the date the sale takes place. Statements are received in arrears of the performance date, therefore an adjustment is made at the year end and income is accrued accordingly.
Donations
The company is receiving donations which are being recognised when the company has entitlement and receipt is probable.

2.5

Stocks- Production costs

Production costs comprise all costs incurred in the staging of ballet performances. If the production is yet to commence at the reporting date, all costs are carried forward in the Statement of Financial Position as stock. These costs are amortised and recognised in the Statement of Income and Retained Earnings in line with revenue receipts related to that show.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

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.

2.8

Borrowing costs

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

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LONDON CITY BALLET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 16 JULY 2025

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
The Company is eligible to claim a tax credit on ballet production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Accruals
The company makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Employees

The average monthly number of employees, including directors, during the period was 1 (2024 - 1).

5.	Stocks
		16 July	31 October
		2025	2024
		£	£

	Production Costs carried forward	321,951	-

Debtors

					16 July	31 October
					2025	2024
					£	£


Trade debtors	1,152	1,141
Other debtors	10,940	158,948
Tax recoverable	114,703	-
	126,795	160,089

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LONDON CITY BALLET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 16 JULY 2025

6.Debtors (continued)

7.	Creditors: Amounts falling due within one year
		16 July	31 October
		2025	2024
		£	£

Bank loans	45,833	-
Trade creditors	1,615	-
Other creditors	374,948	354,602
Accruals and deferred income	86,055	9,000
	508,451	363,602

Included in other creditors are short term loans totalling £33,500. These laons were provided interst free and are repayable on demand.
The Bank loan is repayable in June 2026 and is accruing annual interest at 12.6%.

8.	Related party transactions
	At the reporting date the company owed £337,753 (2024: £330,907) which is included in other creditors to C Smith, the director. The balance was provided interest free and is repayable on demand.

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