Company registration number: 03831969
Unaudited financial statements
for the year ended 31 December 2024
for
Concept Venues Limited
Pages for filing with the Registrar
Company registration number: 03831969
Concept Venues Limited
Balance sheet
as at 31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 35,160 35,160
Investments 5 8,500,000 8,000,000
8,535,160 8,035,160
Current assets
Debtors 2,405,330 357,689
Cash at bank and in hand 52 320
2,405,382 358,009
Creditors: amounts falling due within one
year 		(10,449,715) (10,550,640)
Net current liabilities (8,044,333) (10,192,631)
Total assets less current liabilities 490,827 (2,157,471)
Creditors: Amounts falling due after more
than one year 		6 (667,779) (724,002)
Provisions for liabilities 58,115 69,506
NET LIABILITIES (118,837) (2,811,967)
Capital and reserves
Called up share capital 894 878
Share premium account 2,263,969 483,985
Revaluation reserve 500,000 -
Profit and loss account (2,883,700) (3,296,830)
TOTAL EQUITY (118,837) (2,811,967)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 03831969
Concept Venues Limited
Balance sheet - continued
as at 31 December 2024
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 30 September 2025 and signed on its behalf by:
Mr M Fuller, Director
30 September 2025
2
Concept Venues Limited
Notes to the financial statements
for the year ended 31 December 2024
1 Company information
Concept Venues Limited is a private company registered in England and Wales. Its registered number is 03831969. The company is limited by shares. Its registered office is 20 Warwick Street, London, W1B 5NF.
2 Accounting policies
Basis of preparing the financial statements
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. The financial statements have been prepared under the historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Exemption from preparation of consolidated financial statements
The financial statements contain information about Concept Venues Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Motor vehicles - Not depreciated (classic car)
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
3
Concept Venues Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
2 Accounting policies - continued
Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

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

Where investments in a non-derivative financial instrument that is equity of the issuer is publicly traded or the fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, 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.

Other financial instruments are subsequently measured at fair value, with any changed recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 taxation. Tax is recognised in the Profit and loss account, 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.
4
Concept Venues Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
2 Accounting policies - continued
Deferred taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was Nil (2023 - Nil).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2024 35,160
At 31 December 2024 35,160
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 35,160
At 31 December 2023 35,160
5
Concept Venues Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
5 Fixed asset investments
Investments other than loans
Shares in
group
undertakings
and
participating
interests
£
Cost
At 1 January 2024 8,000,000
At 31 December 2024 8,000,000
Provision
Revaluation adjustments (500,000)
At 31 December 2024 (500,000)
Net book value
At 31 December 2024 8,500,000
At 31 December 2023 8,000,000
6 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable by instalments
Bank loans 2,204 9,074
7 Secured debts
The following secured debts are included within creditors;
31.12.24 31.12.23
A J Taylor Loan 5,088 5,088
Phantom Music Management Ltd Loan 5,891,905 5,591,905
Sphere Entertainment Ltd Loan 630,588 634,963
6
Concept Venues Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
7 Secured debts - continued
The following debentures existed at the year end;

04/11/09 A J Taylor (as security trustee) for all moneys due or to become due to the company. Fixed & floating charge over the undertaking and all property and assets present and future.

17/10/11 A J Taylor for all moneys due or to become due to the company. All properties, present and future rights licences, guarantees, rents, deposits, contracts, covenants and warranties.

04/04/13 Phantom Music Management Ltd for all monies due or to become due to the company. Fixed & floating charge over the undertaking and all property and assets present and future.

04/04/13 Sphere Entertainment Ltd for all monies due or to become due to the company. Fixed & floating charge over the undertaking and all property and assets present and future.
8 Related party transactions
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.

A subsidiary of the company.

During the year Concept Venues Ltd gave general funding to the subsidiary of £74,257 (2023:
£NIL). At the balance sheet date the subsidiary owes the company £74,257 (2023: £NIL). The amount is classified as a current debtor and is repayable on demand, no interest is charged.

A subsidiary of the company.

The subsidiary received funding of £1,486,421 (2023: £376,851 was given to the parent) from Concept Venues Ltd in the year and Concept Venues Ltd settled £1,357,612 (2023: £912,202) of the outstanding amount. The subsidiary made management charges of £NIL (2023: £30,000). At the balance sheet date the subsidiary is owed £627,527 (2023: £476,136). The amount is classified as a current creditor and is repayable on demand, no interest is charged.

A subsidiary of the company.

During the year Concept Venues Ltd made net funding to the company of £NIL (2023:£62,846). The subsidiary made management charges of £NIL (2023: £NIL) to Concept Venues Ltd. At the balance sheet date Concept Venues Ltd is owed £NIL (2023: £NIL) by the subsidiary . The amount was classified as a current debtor and was repayable on demand, no interest was charged.

A subsidiary of the company.

During the year Concept Venues Ltd gave general funding to the subsidiary of £23,997 (2023:£NIL). The subsidiary gave general funding to Concept Venues Ltd of £31,319 (2023:£NIL). At the balance sheet date Concept Venues Ltd owes the subsidiary £7,322 (2023: £NIL). The amount was classified as a current creditor and was repayable on demand, no interest was charged.
9 Controlling party
There are no ultimate controlling parties of the company due to the nature of the share ownership nor through any other powers.
7