Registered Number 03831880
THE SANCTUM LONDON LIMITED
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 4 |
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Share premium account |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Short leasehold Over the term of the lease - 25 years
Plant & machinery 10% per annum
Fixtures & fittings 10% per annum
Valuation information and policy
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.
Other accounting policies
The liabilities of the company exceed the assets by £2,289,938 (2013: restated £1,804,939). 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.
Ultimate parent company:
Concept Venues Ltd is regarded by the directors as being the company's ultimate parent company.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2014 |
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Amortisation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
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At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 2,354 |
At 31 December 2013 | 2,815 |
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
|
Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
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At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 781,231 |
At 31 December 2013 | 688,093 |