REGISTERED NUMBER: 05136976 (England and Wales)

Hull Truck Enterprises Limited

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Willett

A W Kirkman

J Stubbs

C Coggin

REGISTERED OFFICE:

50 Ferensway

Hull

East Yorkshire

HU2 8LB

REGISTERED NUMBER:

05136976 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

12,911,468

13,037,009

CURRENT ASSETS

Debtors

5

10,578

11,307

Cash at bank

173,736

173,837

184,314

185,144

CREDITORS

Amounts falling due within one year

6

(133,612

)

(133,448

)

NET CURRENT ASSETS

50,702

51,696

TOTAL ASSETS LESS CURRENT LIABILITIES

12,962,170

13,088,705

CREDITORS

Amounts falling due after more than one year

7

(46,304

)

(55,232

)

DEFERRED INCOME

8

(12,773,409

)

(12,896,046

)

NET ASSETS

142,457

137,427

CAPITAL AND RESERVES

Called up share capital

9

10

10

Retained earnings

142,447

137,417

SHAREHOLDERS' FUNDS

142,457

137,427

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 has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2025 and were signed on its behalf by:

A W Kirkman - Director

1.	STATUTORY INFORMATION

Hull Truck Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

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

Related party exemption

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.

Critical accounting judgements and key sources of estimation uncertainty

The directors consider the following items to involve a high degree of judgement, critical to understanding the company's financial statements:

1) Depreciation on land and buildings

The directors consider the theatre to have a useful life of 50 years and a residual value of £7,500,000, being approximately half of its historical cost.

2) Carrying value of land and buildings.

Both items are highly subjective due to the specialist nature of the company's land and buildings (a theatre).

Turnover

Rentals receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings

- over 50 years

Plant and machinery etc

- between 5% and 10% on cost

The accounting policy regarding the useful life of land and building was revised in an earlier financial year with the assessment of 50 years from 1st April 2019 being deemed to fairly reflect the net book value at the year end.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtor and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants

Where the company receives grants to fund the acquisition of capital assets, the company chooses to adopt the accrual method. As such, the grant is initially recognised as deferred income and periodically released to the income statement on a systematic basis over the expected useful life of the funded asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

14,814,006

561,401

15,375,407

DEPRECIATION

At 1 April 2024

1,795,323

543,075

2,338,398

Charge for year

122,637

2,904

125,541

At 31 March 2025

1,917,960

545,979

2,463,939

NET BOOK VALUE

At 31 March 2025

12,896,046

15,422

12,911,468

At 31 March 2024

13,018,683

18,326

13,037,009

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

6,994

8,991

Other debtors

3,584

2,316

10,578

11,307

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

47

-

Other loans

8,928

8,410

Accruals and deferred income

124,637

125,038

133,612

133,448

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans

46,304

55,232

Amounts falling due in more than five years:

Repayable by instalments

Other loans

4,730

16,074

8.	DEFERRED INCOME

2025

2024

£

£

Falling due within one year (included in deferred income - see note 6)

122,637

122,637

Falling due after more than one year

12,773,409

12,896,046

12,896,046

13,018,684

Deferred income is being credited to profit and loss over the expected useful economic life of land and buildings and plant and machinery.

Three key grant funders hold security over the company's assets in the form of various legal charges and mortgages. The total amount secured is £12,088,889 which represented approximately 80% of the funded projected costs.

9.	CALLED UP SHARE CAPITAL

The share capital of £10 (2024: £10) is allotted, called up and fully paid.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Bramall BSc., FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Hull Truck Theatre Company Limited.

The parent's registered office and principal place of business is:

50 Ferensway

Hull

East Yorkshire

HU2 8LB