Faulty Towers The Dining Experience Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Faulty Towers The Dining Experience Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07510526 . The registered office is The Manor Main Street, Grove, Wantage, OX12 7JJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are a website. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Faulty Towers The Dining Experience Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2025: 13)

4. Intangible Assets

	Other
	£
Cost
As at 1 February 2025	24,732

As at 31 January 2026	24,732

Amortisation
As at 1 February 2025	24,732

As at 31 January 2026	24,732

Net Book Value
As at 31 January 2026	-

As at 1 February 2025	-

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 February 2025	1,246	196	1,283	2,725
Additions	-	-	602	602

As at 31 January 2026	1,246	196	1,885	3,327

Depreciation
As at 1 February 2025	1,246	196	1,049	2,491
Provided during the period	-	-	157	157

As at 31 January 2026	1,246	196	1,206	2,648

Net Book Value
As at 31 January 2026	-	-	679	679

As at 1 February 2025	-	-	234	234

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Faulty Towers The Dining Experience Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2025	-
Additions	50,000

As at 31 January 2026	50,000

Provision
As at 1 February 2025	-

As at 31 January 2026	-

Net Book Value
As at 31 January 2026	50,000

As at 1 February 2025	-

7. Debtors

	2026	2025
	£	£
Due within one year
Corporation tax recoverable assets	30,235	-
Due after more than one year
Amounts owed by associates	74,025	73,665

	104,260	73,665

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1,076	1,077
Bank loans and overdrafts	5,292	10,376
Corporation tax	-	30,235
Other taxes and social security	9,654	4,628
VAT	43,865	24,954
Net wages	13,487	2,124
Accruals and deferred income	74,736	-
Directors' loan accounts	203,108	202,820

	351,218	276,214

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	5,291
Other creditors (1)	3,000	3,000

	3,000	8,291

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Faulty Towers The Dining Experience Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

11. Post Balance Sheet Events

During the year, the company made an investment of £25,000 in a UK theatrical production, which was scheduled to take place after the balance sheet date.

Following the year end, the production took place and experienced lower than anticipated commercial performance. As a result, the directors now consider that the investment is unlikely to be recovered.

The directors have assessed the circumstances surrounding the investment and concluded that the deterioration in its recoverable value arose as a result of events occurring after 31 January 2026.

Accordingly, no impairment has been recognised in the financial statements for the year ended 31 January 2026, as the directors consider this to be a non-adjusting event after the reporting period.

The estimated financial impact is a loss of £25,000, which is expected to be recognised in the financial statements for the year ending 31 January 2027.

12. Related Party Transactions

Imagination Workshop Ltd

Imagination Workshop Ltd is a related party by virtue of both companies being under common ownership and control by the same individual.

During the year, the company advanced a loan of £360 to Imagination Workshop Ltd. The amount owed by Imagination Workshop Ltd at the year end was £74,025 (2025: £73,665).

The loan is interest-free, with no interest charged during the year. Amounts outstanding are repayable after more than one year.

13. Ultimate Controlling Party

The company's ultimate controlling party is Alison Pollard-Mansergh by virtue of her ownership of 100% of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		679		234
Investments	6		50,000		-

			50,679		234
CURRENT ASSETS
Debtors	7	104,260		73,665
Cash at bank and in hand		193,756		304,673

		298,016		378,338
Creditors: Amounts Falling Due Within One Year	8	(351,218 )		(276,214 )

NET CURRENT ASSETS (LIABILITIES)			(53,202 )		102,124

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,523 )		102,358

Creditors: Amounts Falling Due After More Than One Year	9		(3,000 )		(8,291 )

NET (LIABILITIES)/ASSETS			(5,523 )		94,067

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			(5,623 )		93,967

SHAREHOLDERS' FUNDS			(5,523)		94,067