Wembley Park Theatre Limited
Wembley Park Theatre Limited
Registered number: 10940099
Unaudited Financial Statements
For The Year Ended
31 August 2019
Wembley Park Theatre Limited
Unaudited Financial Statements
For The Year Ended
31 August 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Wembley Park Theatre Limited
Balance Sheet
As at
31 August 2019
Balance Sheet
Registered number:
10940099
For the year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (719,682) | (189,877) | |||
Page 1
Wembley Park Theatre Limited
Balance Sheet (continued)
As at
31 August 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Wembley Park Theatre Limited
Notes to the Financial Statements
For The Year Ended
31 August 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from 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.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
| Property Improvements |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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3.
Tangible Assets
| Property Improvements | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| As at
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| Net Book Value | ||||
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Page 3
Wembley Park Theatre Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2019
4.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Quintain Deposit |
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| VAT |
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| Amounts owed by group undertakings |
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Included in Amounts owed by group undertakings is a balance of £32,391 which is owed by White City Theatres Limited (Company No.11294334) and balance of £120,738 which is owed by Troubadour Asset management Limited (Company No.11717983), both companies are 100% subsidiaries of Troubadour Theatres Limited - a parent company and of which Mr Oliver Royds and Mr Tristan Michael Douglas Baker are also directors.
5.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Net wages | 6,389 | - | |
| Other creditors |
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| Pension liability |
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| Other creditors - Credit Card |
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| Other creditors - KX Tickets Loan |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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Amounts owed to group undertakings £2,046,326 is owed to Troubadour Theatres Limited (Company No.10898810) which is the parent company.
7.
Ultimate Controlling Party
The company's ultimate controlling party is
Troubadour Theatres Limited
by virtue of ownership of 100% of the issued share capital in the company.
Page 4
Wembley Park Theatre Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2019
8.
General Information
Wembley Park Theatre Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10940099
. The registered office is Troubadour Wembley Park Theatre, 3 Fulton Road, Wembley, HA9 0SP.
Page 5