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Registered number: 01367251
MILL AT SONNING (THEATRE) LIMITED (THE)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2026
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MILL AT SONNING (THEATRE) LIMITED (THE)
REGISTERED NUMBER: 01367251
BALANCE SHEET
AS AT 28 FEBRUARY 2026
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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MILL AT SONNING (THEATRE) LIMITED (THE)
REGISTERED NUMBER: 01367251
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2026
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 by:
The notes on pages 3 to 9 form part of these financial statements.
Page 2
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
Mill at Sonning (Theatre) Limited (The) is a private company limited by shares and incorporated in England and Wales. The registered office address is The Mill At Sonning Theatre, Sonning Eye, Reading, RG4 6TY.
2.Accounting policies
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Basis of preparation of financial statements
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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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
During the year ended 28 February 2026, the company incurred a loss after taxation of £1,810,802 (2025: £512,906) and, at that date, had net current liabilities of £367,030 (2025: £3,322,370) and net liabilities of £1,727,697 (2025: £244,039).
The directors have considered the ongoing support available to the company from its funders and creditors. Based on this assessment, the directors are satisfied that the Company will have sufficient funds to meet its liabilities as they fall due for at least 12 months following approval of the financial statements.
Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Turnover principally represents income from the sale of tickets, refreshments and other sundry related income, received or receivable, in the normal course of business, and is shown net of VAT and other sales related taxes.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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.
Page 3
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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 following methods..
Depreciation is provided on the following basis:
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Plant and computer equipment
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15% reducing balance / 20 year straight line
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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.
Page 4
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
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Revaluation of tangible fixed assets
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Freehold properties are stated at valuation, being their fair value at the date of revaluation, less subsequent depreciation and impairment losses. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Increases in the carrying value arising on revaluation are recognised in other comprehensive income and accumulated in the revaluation reserve, except to the extent that they reverse a revaluation decrease previously recognised in profit or loss. Decreases in value are recognised in other comprehensive income to the extent of any existing revaluation surplus relating to the asset, with any excess recognised in profit or loss.
Upon disposal of a revalued asset, or as the asset is used by the company, the attributable revaluation surplus is transferred from the revaluation reserve to retained earnings. Such transfers are not made through profit or loss.
During the year, the company's revalued freehold property was transferred to the parent company. The associated revaluation reserve was transferred to retained earnings in accordance with FRS 102.
Stocks are stated at the lower of cost and net realisable value.
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.
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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Cash and cash equivalents
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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.
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.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in ordinary shares.
Page 5
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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The average monthly number of employees, including directors, during the year was 129 (2025 - 129).
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Plant and computer equipment
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Charge for the year on owned assets
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Page 6
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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Due after more than one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Other related party loans
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Page 7
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Other related party loans
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The deferred tax asset is made up as follows:
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Tax losses carried forward
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Allotted, called up and fully paid
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552 (2025 - 552) Ordinary-A shares of £1.00 each
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48 (2025 - 48) Ordinary-B shares of £1.00 each
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Page 8
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MILL AT SONNING (THEATRE) LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £31,520 (2025 - £22,147). Contributions totalling £8,034 (2025 - £4,784) were payable to the fund at the balance sheet date and are included in creditors.
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Related party transactions
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The company has taken advantage of the disclosure exemption available under FRS 102 Section 33.1A not to disclose transactions entered into between 100% group owned companies.
During the year, the company received unsecured, interest-free loans from related parties. At 28 February 2026, the total amount outstanding was £1,690,402 (2025 - £nil).
During the year, the company received unsecured loans bearing interest at 10% per annum from a director and other related parties. At 28 February 2026, the total amount outstanding was £100,000 (2025 - £nil).
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The company's immediate parent company is RD Richards & Company (Maidenhead) Limited, a company registered in England and Wales. The ultimate controlling party is S A Hughes by virtue of their majority shareholding in RD Richards & Company (Maidenhead) Limited.
Page 9
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