Abbeygate Cinema Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08913234

Abbeygate Cinema Limited

Filleted Unaudited Financial Statements

31 December 2024

Abbeygate Cinema Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5	1,172,661	1,251,223
Investments	6	53,677	53,961
		------------	------------
		1,226,338	1,305,184

Current assets

Stocks		10,631	9,516
Debtors	7	117,654	129,809
Cash at bank and in hand		62,084	89,124
		---------	---------
		190,369	228,449

Creditors: amounts falling due within one year	8	1,178,890		1,010,823
		------------		------------
Net current liabilities			988,521		782,374
			------------		------------
Total assets less current liabilities			237,817		522,810

Creditors: amounts falling due after more than one year	9		29,839		89,516

Provisions	36,247	49,845
	---------	---------
Net assets	171,731	383,449
	---------	---------

Capital and reserves

Called up share capital	662,001	662,001
Profit and loss account	( 490,270)	( 278,552)
	---------	---------
Shareholders funds	171,731	383,449
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Abbeygate Cinema Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 11 September 2025 , and are signed on behalf of the board by:

L Goleby
Director

Company registration number: 08913234

Abbeygate Cinema Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hatter Street, Bury St. Edmunds, Suffolk, IP33 1LZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The statutory accounts have been prepared on the going concern basis. The Director has carefully reviewed the future prospects of the company and its future cash flows. Having assessed this the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from signing of these statutory accounts. For this reason the Director continues to adopt the going concern basis for the preparation of the statutory accounts. Accordingly, these statutory accounts do not include any adjustments to the carrying amount of classification of assets and liabilities that would result if the company was unable to continue as a going concern.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Revenue recognition

Revenue comprises income from screen events, tickets, food and beverages and is net of VAT and other discounts. Revenue is measured at the fair value of the consideration received or receivable. Revenue is recognised when the goods and services have been provided.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	7% straight line
Plant and machinery	-	15% straight line
Fixtures and fittings	-	15% straight line
Equipment	-	20 % straight line

	Online booking system	-	20 % straight line

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the group becomes a party to the contractual provisions of the instrument. Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective rate method. A provision is established when there is objective evidence that the group will not be able to collect all amounts due.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 36 (2023: 36 ).

5. Tangible assets

	Leasehold property and improvements	Plant and machinery	Fixtures and fittings	Equipment	Online booking system	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	1,678,262	429,710	145,751	1,917	26,858	2,282,498
Additions	16,073	35,095	14,266	620	–	66,054
	------------	---------	---------	-------	--------	------------
At 31 Dec 2024	1,694,335	464,805	160,017	2,537	26,858	2,348,552
	------------	---------	---------	-------	--------	------------
Depreciation
At 1 Jan 2024	553,131	331,458	119,061	767	26,858	1,031,275
Charge for the year	102,794	32,197	9,138	487	–	144,616
	------------	---------	---------	-------	--------	------------
At 31 Dec 2024	655,925	363,655	128,199	1,254	26,858	1,175,891
	------------	---------	---------	-------	--------	------------
Carrying amount
At 31 Dec 2024	1,038,410	101,150	31,818	1,283	–	1,172,661
	------------	---------	---------	-------	--------	------------
At 31 Dec 2023	1,125,131	98,252	26,690	1,150	–	1,251,223
	------------	---------	---------	-------	--------	------------

6. Investments

	Unlisted investments
	£
Cost
At 1 January 2024	53,961
Transfers	(284)
	--------
At 31 December 2024	53,677
	--------
Impairment
At 1 January 2024 and 31 December 2024	–
	--------

Carrying amount
At 31 December 2024	53,677
	--------
At 31 December 2023	53,961
	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	11,959	10,651
Amounts owed by group undertakings	58,449	57,738
Other debtors	47,246	61,420
	---------	---------
	117,654	129,809
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	61,777	59,677
Trade creditors	172,870	120,898
Accruals and deferred income	261,891	235,180
Social security and other taxes	67,915	64,110
Director loan accounts	421,623	348,250
Gift card control	82,362	74,928
Credit card control	232	215
Other creditors	110,220	107,565
	------------	------------
	1,178,890	1,010,823
	------------	------------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	29,839	89,516
	--------	--------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	45,749	45,749
Later than 1 year and not later than 5 years	176,522	178,514
Later than 5 years	235,849	279,606
	---------	---------
	458,120	503,869
	---------	---------

Lyn Goleby has entered into an Authorised Guarantee Agreement on behalf of the company in regard to 4 Hatter Street.

11. Related party transactions

At the year end the company owed the director £421,623 (2023: £348,250) which is shown amongst creditors. The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with group companies that are wholly owned.