STANDOUT THEATRE LIMITED

STANDOUT THEATRE LIMITED

STANDOUT THEATRE LIMITED - Company Information

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STANDOUT THEATRE LIMITED

Company Registration Number:
05924158 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2019

Period of accounts

Start date: 01 November 2018

End date: 31 October 2019

STANDOUT THEATRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2019

Balance sheet
Notes

STANDOUT THEATRE LIMITED

Balance sheet

As at 31 October 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 631,731 637,169
Total fixed assets: 631,731 637,169
Current assets
Cash at bank and in hand: 22,857 53,485
Total current assets: 22,857 53,485
Creditors: amounts falling due within one year:   (216,087) (100,658)
Net current assets (liabilities): (193,230) (47,173)
Total assets less current liabilities: 438,501 589,996
Creditors: amounts falling due after more than one year:   (366,220) (523,760)
Total net assets (liabilities): 72,281 66,236
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 72,181 66,136
Shareholders funds: 72,281 66,236

The notes form part of these financial statements

STANDOUT THEATRE LIMITED

Balance sheet statements

For the year ending 31 October 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 October 2020
and signed on behalf of the board by:

Name: Stella Okoroafor
Status: Director

The notes form part of these financial statements

STANDOUT THEATRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognized at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognized as interest income.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognized so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Land and buildings Freehold 0.5% straight lineFixture, fittings & equipment 25% reducing balanceMotor vehicles 25% straight lineThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STANDOUT THEATRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2019

2. Employees

2019 2018
Average number of employees during the period 40 42

STANDOUT THEATRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2019

3. Tangible Assets

Total
Cost £
At 01 November 2018 716,944
At 31 October 2019 716,944
Depreciation
At 01 November 2018 79,775
Charge for year 5,438
At 31 October 2019 85,213
Net book value
At 31 October 2019 631,731
At 31 October 2018 637,169