Registration number: 09308469

Bridport Electric Palace Company Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Abridged Financial Statements	3 to 9

Bridport Electric Palace Company Limited

(Registration number: 09308469)
Abridged Balance Sheet as at 31 January 2026

	Note	2026		2025
		£	£	£	£
Fixed assets
Intangible assets	4		1		1
Tangible assets	5		1,462,745		1,272,592
			1,462,746		1,272,593
Current assets
Stocks	6	2,947		3,612
Debtors		6,600		14,042
Cash at bank and in hand		16,817		32,052
		26,364		49,706
Prepayments and accrued income		8,836		8,176
Creditors: Amounts falling due within one year		(61,624)		(65,163)
Net current liabilities			(26,424)		(7,281)
Total assets less current liabilities			1,436,322		1,265,312
Creditors: Amounts falling due after more than one year			(3,851,456)		(3,632,220)
Accruals and deferred income			(135,687)		(138,953)
Net liabilities			(2,550,821)		(2,505,861)
Capital and reserves
Called up share capital	7	100		100
Profit and loss account		(2,550,921)		(2,505,961)
Shareholders' deficit			(2,550,821)		(2,505,861)

Bridport Electric Palace Company Limited

(Registration number: 09308469)
Abridged Balance Sheet as at 31 January 2026

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2026 and signed on its behalf by:
 

Mr A Warren Director

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 South Street
Bridport
Dorset
DT6 3NY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant on the continued support of its directors, who have confirmed that this will continue and, therefore, the accounts have been prepared on a going concern basis. The directors have not identified any material uncertainties related to events and conditions that may cast significant doubt about the company’s ability to continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of vat, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Not depreciated
Fixtures, fittings and equipment	10% reducing balance
Leasehold land and buildings	2% straight line
Office equipment	33% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Website costs where it is probable that the expected future economic benefits attributable to the asset will flow to the entity are capitalised as an intangible fixed asset and are stated at cost less accumulated amortisation, and any accumulated impairment losses. They are amortised over their estimated life. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Nil
Website costs	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2025 - 6).

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

4	Intangible assets

	Total £
Cost or valuation
At 1 February 2025	21,080
At 31 January 2026	21,080
Amortisation
At 1 February 2025	21,079
At 31 January 2026	21,079
Carrying amount
At 31 January 2026	1
At 31 January 2025	1

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2025	1,219,321	8,818	483,363	1,711,502
Additions	219,236	441	12,798	232,475
Disposals	-	-	(5,387)	(5,387)
At 31 January 2026	1,438,557	9,259	490,774	1,938,590
Depreciation
At 1 February 2025	159,641	7,881	271,388	438,910
Charge for the year	17,755	382	21,261	39,398
Eliminated on disposal	-	-	(2,463)	(2,463)
At 31 January 2026	177,396	8,263	290,186	475,845
Carrying amount
At 31 January 2026	1,261,161	996	200,588	1,462,745
At 31 January 2025	1,059,680	937	211,975	1,272,592

Included within the net book value of land and buildings above is £550,794 (2025 - £331,558) in respect of freehold land and buildings and £710,367 (2025 - £728,122) in respect of long leasehold land and buildings.
 

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

6

Stocks

	2026 £	2025 £
Other inventories	2,947	3,612

7	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Related party transactions

Loans from related parties

2026	Directors £
At start of period	3,643,041
Advanced	219,236
Repaid	(2,572)
At end of period	3,859,705

2025	Directors £
At start of period	3,550,488
Advanced	95,000
Repaid	(2,447)
At end of period	3,643,041

Terms of loans from related parties

The loans received from directors are interest free and are repayable on demand, although are not all expected to be recalled within the next year. Of the closing balance at 31 January 2026 of £3,859,705, it has been agreed that £8,249 should be included as due within one year and the directors have confirmed that they will give 13 months notice of requiring the balance of the loan to be repaid and, therefore, £3,851,456 has been reported as due in more than one year. The amortised cost of the loan over a 13 month period will not be materially different to the transaction cost of the loan and, therefore, no adjustment has been made in these accounts to report the loan at amortised cost.
 

Bridport Electric Palace Company Limited

Notes to the Abridged Financial Statements for the Year Ended 31 January 2026

9	Non adjusting events after the financial period

Since the balance sheet date, heads of terms are being negotiated with a potential buyer for The Bridport Electric Palace building and business. The property currently has an Asset of Community Value moratorium in place on it. It is hoped that contracts will be exchanged on the sale towards the end of 2026.