ACCOUNTS - Final Accounts preparation

Registered number: 15955609

TRUE ENTERTAINMENT LIMITED

UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

TRUE ENTERTAINMENT LIMITED

DIRECTOR'S REPORT

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

The director presents his report and the financial statements for the period from incorporation on 13 September 2024 to 30 September 2025.

Trading results

The principal activity of the company is the provision of corporate hospitality services, including boxes at Ascot Racecourse and the Kia Oval. The company acquired the assets of a business in liquidation, which previously leased the boxes. Investors injected sufficient funds to enable certain clients to maintain existing bookings, but as a result the company made a gross loss in the period as it did not receive revenue for all the bookings it fulfilled. All pre-liquidation bookings have now been fulfilled so the company expects to be profitable in future periods.

Director

The director who served during the period was:

M Truman (appointed 13 September 2024)

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 12 June 2026 and signed on its behalf.

M Truman

Director

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TRUE ENTERTAINMENT LIMITED

REGISTERED NUMBER: 15955609

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025
Note		£

Fixed assets
Tangible assets	5		28,031
			28,031
Current assets
Debtors: amounts falling due after more than one year	6	98,763
Debtors: amounts falling due within one year	6	199,012
Cash at bank and in hand	7	74,375
		372,150
Creditors: amounts falling due within one year	8	(808,347)
Net current (liabilities)/assets			(436,197)
Total assets less current liabilities			(408,166)

Net (liabilities)/assets			(408,166)

Capital and reserves
Profit and loss account			(408,166)
			(408,166)

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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TRUE ENTERTAINMENT LIMITED

REGISTERED NUMBER: 15955609

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2025

The Company has opted not to file the statement of income and retained earnings 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 12 June 2026.

M Truman

Director

The notes on pages 4 to 9 form part of these financial statements.

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

1.	General information

True Entertainment Limited is a private company limited by shares. The Company was incorporated in the United Kingdom and is registered in England and Wales. The registered company number is 15955609. The registered office address is 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The Company has net current liabilities at the balance sheet date of £408,166. The director has performed a going concern assessment for a period of twelve months from the date of approval of the financial statements.

The providers of the investor loans have confirmed they will not demand repayment of the loans for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements. They have indicated a willingness to provide funding to enable the Company to meet its liabilities as they fall due.

As a result, the director believes that it remains appropriate to prepare the financial statements on a going concern basis.

2.3

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

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.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Tangible fixed assets

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.

Depreciation is provided on the following basis:

				Office equipment	-	33%	straight line
				Computer equipment	-	33%	straight line

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.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees during the period was as follows:

			30 September
			2025
			No.

		Employees	2

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

4.	Intangible assets

		Goodwill
		£
	Cost
	Additions	1
	At 30 September 2025	1
	Amortisation
	Charge for the period on owned assets	1
	At 30 September 2025	1
	Net book value
	At 30 September 2025	-

5.	Tangible fixed assets

	Event equipment	Computer equipment	Total
	£	£	£
Cost or valuation
Additions	35,428	291	35,719
At 30 September 2025	35,428	291	35,719
Depreciation
Charge for the period on owned assets	7,622	66	7,688
At 30 September 2025	7,622	66	7,688
Net book value
At 30 September 2025	27,806	225	28,031

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

6.	Debtors
		2025
		£

	Due after more than one year
	Employee loan	98,763
		98,763

					2025
					£

	Due within one year
	Other debtors	3,670
	Prepayments and accrued income	195,342
		199,012

7.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	74,375
		74,375

8.	Creditors: Amounts falling due within one year
		2025
		£

	Trade creditors	101,983
	Other taxation and social security	21,630
	Investor loans	390,000
	Accruals and deferred income	294,734
		808,347

Investor loans are interest free and repayable on demand.

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TRUE ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2025

9.	Share capital
		2025
		£

		Allotted, called up and fully paid

		1 Ordinary share of £-	-

During the year 1 £0.001 Ordinary share was allotted for a total consideration of £0.001.

10.	Pension commitments

The Company operates a defined contribution pension scheme for the benefit of the employees. The assets of the scheme are administered by an independent pensions provider. Pension payments recognised as an expense during the period amount to £1,082. Contributions totalling £454 were payable to the fund at the balance sheet date and are included in creditors.

11.	Factors that may affect future tax charges

The Company has tax adjusted trading losses of £431,490 for which the related deferred tax asset of £100,973 has not been recognised.

12.	Commitments under operating leases
	At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		2025
		£

	Not later than 1 year	143,313
	Later than 1 year and not later than 5 years	125,000
		268,313

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