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Registered number: 10441014
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
Financial statements
Information for filing with the registrar
31 March 2025
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Balance sheet
At 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Balance sheet (continued)
At 31 March 2025
The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 comprehensive income 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 22 December 2025.
The notes on pages 3 to 7 form part of these financial statements.
Company registered number: 10441014
2
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Notes to the financial statements
Year ended 31 March 2025
The company is a private company limited by shares, registered and domiciled in England and Wales. The address of the registered office is The Dun Cow, 9 High Street West, Sunderland, England, SR1 3HA.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The financial statements have been prepared on a going concern basis, the validity of which depends upon the continued support of the directors and shareholder. The directors/shareholder have confirmed their willingness to provide the requisite support for a period of at least 12 months from the date of signing these financial statements.
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.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
3
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
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straight line over the period of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
4
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Notes to the financial statements
Year ended 31 March 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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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.
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The average monthly number of employees, including directors, during the year was 49 (2024 - 60).
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Long-term leasehold property
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5
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Notes to the financial statements
Year ended 31 March 2025
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Freehold investment property
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The 2025 valuations were made by the director, on an open market value for existing use basis.
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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6
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Culture Quarter Ventures Ltd (prev. Pub Culture Ltd)
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Notes to the financial statements
Year ended 31 March 2025
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Transactions with directors
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During the year the directors operated a current account with the company through which advances were made, the balances owed by the company are listed below. These are shown in other creditors.
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The loans are unsecured, repayable on demand and incur no interest.
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7
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