REGISTERED NUMBER: |
TRINITY ARTS ENTERPRISES LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
TRINITY ARTS ENTERPRISES LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TRINITY ARTS ENTERPRISES LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111) |
ABRIDGED BALANCE SHEET |
31 March 2023 |
31/3/23 | 31/3/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
RESERVES |
Income and expenditure account | 5 | ( |
) | ( |
) |
( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Trinity Arts Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in pounds sterling and rounded to the nearest pound. |
Turnover |
Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, for the sale of food, beverages and other cafe goods. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 profit or loss in the period to which they relate. |
Gift aid payment to parent charity |
The company pays all its taxable profits for the reporting period to its parent charity under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings. |
At the reporting date there was no legal obligation in place for the company to make this gift aid payment, although prior to the reporting date the board had indicated its intention to pay taxable profits to the parent charity in respect of the reporting period. The payment is expected to be made within 9 months of the end of the reporting date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
TRINITY ARTS ENTERPRISES LIMITED (REGISTERED NUMBER: 01848111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
5. | RESERVES |
As a result of the company adopting the updates of the Financial Reporting Council's Triennial review of FRS102 regarding gift aid distributions the retained earnings of the company at 31 March 2023 are as follows: |
Opening retained earnings as at 1 April 2022 - (£35,596) |
Distribution to parent charity of prior year profit - £Nil |
Loss for the year ended 31 March 2023 - (£30,650) |
Cross charge from parent charity in current year - £12,000 |
Closing retained earnings as at 31 March 2023 - (£66,246) |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company donates all profits to Trinity Theatre and Arts Centre Limited by way of a gift aid distribution. |
At 31 March 2023 the company owed £68,179 (2022: £29,707) to Trinity Theatre and Arts Centre Limited. |
During the year there was a cross charge of £12,000 (2022: £nil) from Trinity Theatre and Arts Centre Limited. |
8. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary undertaking of Trinity Theatre and Arts Centre Limited, a charity whose registered office is Trinity Theatre and Arts Centre, Church Road, Tunbridge Wells, Kent TN1 1JP. Copies of the consolidated group accounts of the parent charity, which include the results of the company, can be obtained on request from the parent charity's registered office. |
9. | GOING CONCERN |
The company has incurred a loss after tax of £30,650 during the year ended 31 March 2023. The parent charity, Trinity Theatre and Arts Centre Limited, has pledged its continuing support for the foreseeable future and the accounts have therefore been prepared on a going concern basis as a result of the support given by the parent charity. |
The Directors of Trinity Theatre and Arts Centre Limited have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements. These forecasts reflect an assessment of current and future market conditions and their impact on the company's future cash flow performance. |