The Sanctum London Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03831880 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

The Sanctum London Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M N J Fuller

A J Taylor

SECRETARY:

S E Atalay

REGISTERED OFFICE:

Bridle House

36 Bridle Lane

London

W1F 9BZ

REGISTERED NUMBER:

03831880 (England and Wales)

FIXED ASSETS

Intangible assets

2

1,846

2,354

Tangible assets

3

673,084

781,231

674,930

783,585

CURRENT ASSETS

Stocks

79,441

66,119

Debtors

856,849

839,629

Prepayments and accrued income

-

12,050

Cash at bank

250

1,432

936,540

919,230

CREDITORS

Amounts falling due within one year

2,911,404

2,528,711

NET CURRENT LIABILITIES

(1,974,864

)

(1,609,481

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,299,934

)

(825,896

)

CREDITORS

Amounts falling due after more than
one year

1,450,000

1,464,042

NET LIABILITIES

(2,749,934

)

(2,289,938

)

CAPITAL AND RESERVES

Called up share capital

4

1,250

Share premium

499,750

Profit and loss account

(3,250,934

)

(2,790,938

)

SHAREHOLDERS' FUNDS

(2,749,934

)

(2,289,938

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 September 2016 and
were signed on its behalf by:

A J Taylor - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced sales of goods, services and hotel accommodation,

excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

Over the term of the lease - 25 years

Plant & machinery

10% per annum

Fixtures & fittings

10% per annum

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which

they relate.

Going concern

The liabilities of the company exceed the assets by £2,749,934 (2014: £2,289,938). The

company depends on the continuing financial support of its parent, associated companies

and a director who has confirmed his ongoing financial support of the company for the

foreseeable future and his ability to provide such support. For this reason the financial

statements have been prepared on a gong concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

4,614

AMORTISATION

At 1 January 2015

2,260

Amortisation for year

508

At 31 December 2015

2,768

NET BOOK VALUE

At 31 December 2015

1,846

At 31 December 2014

2,354

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,167,730

Additions

43,173

At 31 December 2015

1,210,903

DEPRECIATION

At 1 January 2015

386,499

Charge for year

151,320

At 31 December 2015

537,819

NET BOOK VALUE

At 31 December 2015

673,084

At 31 December 2014

781,231

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

1,250

Ordinary

£1

1,250

5.	ULTIMATE PARENT COMPANY

Concept Venues Ltd is regarded by the directors as being the company's ultimate parent

company.