S & B Cinemas Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

(Registration number: 05062592)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,522,678	1,605,777
Current assets
Stocks	5	23,166	10,117
Debtors	6	122,396	63,461
Cash at bank and in hand		369,843	336,293
		515,405	409,871
Creditors: Amounts falling due within one year	7	(316,414)	(288,868)
Net current assets		198,991	121,003
Total assets less current liabilities		1,721,669	1,726,780
Creditors: Amounts falling due after more than one year	7	(191,324)	(318,668)
Provisions for liabilities		(274,836)	(279,468)
Net assets		1,255,509	1,128,644
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,255,409	1,128,544
Shareholders' funds		1,255,509	1,128,644

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 9 October 2025 and signed on its behalf by:

S & B Cinemas Limited

(Registration number: 05062592)
Statement of Financial Position as at 31 March 2025 (continued)

Mr H A Scott
Director

Mrs B I Scott
Director

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tallford House
38 Walliscote Road
Weston-super-Mare
Somerset
BS23 1LP

Principal activity

The principal activity of the company is motion picture projection.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Judgements 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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	1% straight line
Leasehold property improvements	Over the term of the lease

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Plant & machinery	25% reducing balance
Office equipment	33% straight line
Motor vehicles	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2024 - 45).

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

Land and buildings
£

Leasehold property improves.
£

Plant and machinery
£

Office equipment
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 April 2024

1,142,938

434,235

992,545

13,957

79,557

2,663,232

Additions

300

22,124

56,357

-

-

78,781

Disposals

(5,000)

(6,495)

(883)

-

(48,567)

(60,945)

At 31 March 2025

1,138,238

449,864

1,048,019

13,957

30,990

2,681,068

Depreciation

At 1 April 2024

43,373

236,023

726,638

12,455

38,966

1,057,455

Charge for the year

11,430

30,803

79,553

1,071

3,829

126,686

Eliminated on disposal

-

(1,624)

(833)

-

(23,294)

(25,751)

At 31 March 2025

54,803

265,202

805,358

13,526

19,501

1,158,390

Carrying amount

At 31 March 2025

1,083,435

184,662

242,661

431

11,489

1,522,678

At 31 March 2024

1,099,565

198,212

265,907

1,502

40,591

1,605,777

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

23,166

10,117

6

Debtors

2025
£

2024
£

Trade debtors

7,812

7,984

Other debtors

5,696

5,367

Prepayments

108,888

50,110

122,396

63,461

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	103,263	96,783
Trade creditors		50,340	34,368
Taxation and social security		89,475	81,673
Accruals and deferred income		47,832	48,039
Other creditors		25,504	28,005
		316,414	288,868

Creditors include net obligations under hire purchase contracts which are secured of £45,834 (2024 - £43,817).

Loans and borrowings also include £47,067 (2024 - £42,860) in respect of a loan from Funding Circle Eclipse Lending Limited. This loan is a 6 year loan that commenced on 25 October 2021, with a fixed interest rate of 9.40% per annum.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	191,324	318,668

Creditors include net obligations under hire purchase contracts which are secured of £7,048 (2024 - £76,970).

Loans and borrowings include £93,986 (2024 - £93,986) in respect of a landlord's loan. The loan is a 15 year loan, repayable in full on 22 September 2031, subject to a 10 year lease break clause. The interest is fixed at 7.5% per annum. This loan is secured on all fixtures and fittings of the cinema whether fixed or moveable.

Also £84,150 (2024 - £131,217) is included in respect of a loan from Funding Circle Eclipse Lending Limited. This loan is a 6 year loan that commenced on 25 October 2021, with a fixed interest rate of 9.40% per annum.

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £

Bank borrowings	6,140	16,495
Hire purchase contracts	7,048	76,970
Other borrowings	178,136	225,203
	191,324	318,668

Current loans and borrowings

	2025 £	2024 £

Bank borrowings	10,362	10,106
Hire purchase contracts	45,834	43,817
Other borrowings	47,067	42,860
	103,263	96,783

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	41,930	43,597
Later than one year and not later than five years	66,680	94,610
Later than five years	18,667	32,667
	127,277	170,874

S & B Cinemas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

11	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors' loan	(15,815)	48,963	(44,738)	(11,590)

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors' loan

(10,933)

30,221

(35,103)

(15,815)

12

Subsequent events

On 30 April 2025 the Company purchased the Freehold of Wincanton Community Church, South Street, Wincanton, BA9 9DL, for the sum of £415,000 to develop into a Cinema.

Lloyds Bank Plc provided a £700,000 business loan to finance the purchase and the refurbishment of the property. The loan is over a 10-year term, with an interest rate of 2.17% over the Bank of England Base Rate.

	Land and buildings £	Leasehold property improves. £	Plant and machinery £	Office equipment £	Motor vehicles £	Total £
Cost or valuation
At 1 April 2024	1,142,938	434,235	992,545	13,957	79,557	2,663,232
Additions	300	22,124	56,357	-	-	78,781
Disposals	(5,000)	(6,495)	(883)	-	(48,567)	(60,945)
At 31 March 2025	1,138,238	449,864	1,048,019	13,957	30,990	2,681,068
Depreciation
At 1 April 2024	43,373	236,023	726,638	12,455	38,966	1,057,455
Charge for the year	11,430	30,803	79,553	1,071	3,829	126,686
Eliminated on disposal	-	(1,624)	(833)	-	(23,294)	(25,751)
At 31 March 2025	54,803	265,202	805,358	13,526	19,501	1,158,390
Carrying amount
At 31 March 2025	1,083,435	184,662	242,661	431	11,489	1,522,678
At 31 March 2024	1,099,565	198,212	265,907	1,502	40,591	1,605,777

	2025 £	2024 £
Finished goods and goods for resale	23,166	10,117

	2025 £	2024 £
Trade debtors	7,812	7,984
Other debtors	5,696	5,367
Prepayments	108,888	50,110
	122,396	63,461

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Directors' loan	(10,933)	30,221	(35,103)	(15,815)