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Abbey Box Office Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Ripe LLP
9A Burroughs Gardens
London
NW4 4AU

Abbey Box Office Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Abbey Box Office Limited

Company Information

Director

Mr M C Aljoe

Registered office

23/24 Greek Street London W1D 4DZ

Accountants

Ripe LLP 9A Burroughs Gardens London NW4 4AU

Page 1

Abbey Box Office Limited

(Registration number: 00472019)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	572	1,160
Current assets
Stocks	5	-	24,043
Debtors	6	144,274	278,229
Cash at bank and in hand		155,055	292,740
		299,329	595,012
Creditors: Amounts falling due within one year	7	(355,162)	(593,073)
Net current (liabilities)/assets		(55,833)	1,939
Total assets less current liabilities		(55,261)	3,099
Provisions for liabilities		-	(416)
Net (liabilities)/assets		(55,261)	2,683
Capital and reserves
Called up share capital		5,000	5,000
Profit and loss account		(60,261)	(2,317)
Total equity		(55,261)	2,683

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Abbey Box Office Limited

(Registration number: 00472019)
Balance Sheet as at 31 December 2017

Approved and authorised by the director on 1 May 2018
 

.........................................

Mr M C Aljoe

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Abbey Box Office Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

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:
23/24 Greek Street
London
W1D 4DZ

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Going concern

The financial statements have been prepared on a going concern basis.

The company is supported by its group companies.

The director has prepared financial forecasts for the forthcoming year and considers that it is appropriate to prepare the financial statements on a going concern basis.

The accounts do not include any adjustments that would result from a withdrawal of the support from its group companies.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Page 4

Abbey Box Office Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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
Plant and machinery etc	33% on cost

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.

Page 5

Abbey Box Office Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2016 - 3).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2017	10,306	10,306
At 31 December 2017	10,306	10,306
Depreciation
At 1 January 2017	9,146	9,146
Charge for the year	588	588
At 31 December 2017	9,734	9,734
Carrying amount
At 31 December 2017	572	572
At 31 December 2016	1,160	1,160

5

Stocks

	2017 £	2016 £
Finished goods and goods for resale	-	24,043

6

Debtors

	Note	2017  £	2016  £
Trade debtors		39,205	119,038
Amounts owed by related parties		93,635	93,400
Other debtors		10,070	7,754
Prepayments		1,364	58,037
		144,274	278,229

Page 6

Abbey Box Office Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

7

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		17,818	139,917
Amounts owed to group undertakings and undertakings in which the company has a participating interest		201,375	281,458
Amounts due to group companies		109,521	88,620
Taxation and social security		2,984	38,844
Accruals and deferred income		12,918	20,051
Other creditors		10,546	24,183
		355,162	593,073