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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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Sanctum On The Green Ltd |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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Sanctum On The Green Ltd |
Sanctum On The Green Ltd (Registered number: 07115900) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Sanctum On The Green Ltd |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Sanctum On The Green Ltd (Registered number: 07115900) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Sanctum On The Green Ltd (Registered number: 07115900) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Sanctum On The Green Ltd is a
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and Wales. The company's registered number and registered office address can be found |
on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the net sales of goods and services derived from ordinary activities, |
excluding value added tax. |
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Tangible fixed assets |
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Tangible Assets are stated at cost less accumulated depreciation. |
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Lease & Leasehold improvements | 10% on cost |
Motor vehicles | 25% on cost |
Kitchen equipment | 15% on cost |
Computer equipment | 20% on cost |
Fixture and fittings | 10% on cost |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of |
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated |
into sterling at the rate of exchange ruling at the date of transaction. Exchange differences |
are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Leases are classified as finance leases when they transfer substantially all the risks and |
rewards of ownerships of the leased assets to the company. Other leases that do not |
transfer substantially all the risks and rewards of ownership of the leased assets to the |
company are classified as operating leases. |
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The company has entered into some hire purchase agreements for certain assets that |
include the option to purchase the items at the end of the lease term for a nominal amount, |
which is expected to be much lower than their fair value at that date. The hire purchase |
agreements have been classified as finance leases as it is reasonably certain that the option |
will be exercised. |
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Rights to use assets and corresponding obligations to lessors under finance leases are |
recognised in the statement of financial position as assets and liabilities at the lower of fair |
value of the assets and the present balance of the minimum lease payments, determined at |
the inception of the lease. |
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Lease payments are apportioned between finance charges and reduction of outstanding |
lease liabilities using the effective interest method, so as to produce a constant rate of |
interest on the remaining balance of the liabilities. Finance charges are recognised in profit |
or loss. Assets held under finance leases are included in property, plant and equipment and |
are depreciated and reviewed for impairment in the same way as assets owned outright. |
Payments received under operating leases are recognised as income over lease term on a |
straight-line basis. |
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Going concern |
The company's liabilities exceed its assets by £2,878,181 (2015: £2,622,471). 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 and his ability to do |
so for the foreseeable future. For this reason the financial statements have been prepared |
on a going concern basis. |
Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Other creditors |
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Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Alfandari Private Equities Ltd | 76,299 | - |
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The following securities apply to the finance lease of £76,299: |
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Date | Name | Amount | Description |
06/10/2016 |
Alfandari
Private Equities Limited |
All monies due or to
become due from the company. |
Debenture - Given by Sanctum On
The Green Ltd including fixed charge over present and future freehold and lease hold property. Fixed charge over, amoung other things, interest, future rights, licences, guarantees, rents, deposits, contracts, covenants relating to properties. All intellectual property. Full details given charge code 071159000002 |
06/10/2016 |
Alfandari
Private Equities Limited |
All monies due or to
become due from the company. |
Debenture - Given by The Sanctum
London Ltd including fixed charge over present and future freehold and lease hold property. Fixed charge over, amoung other things, interest, future rights, licences, guarantees, rents, deposits, contracts, covenants relating to properties. All intellectual property. Full details given charge code 038318800003 |
15/09/2016 |
Alfandari
Private Equities Limited |
All monies due or to
become due from the company. |
Debenture - Given by The Sanctum
London Ltd including fixed charge over present and future freehold and lease hold property. Fixed charge over, amoung other things, interest, future rights, licences, guarantees, rents, deposits, contracts, covenants relating to properties. All intellectual property. Full details given charge code 038318800002 |
16/10/2016 |
Alfandari
Private Equities Limited |
All monies due or to
become due from the company. |
Debenture - Given by Concept
Venues Ltd including fixed charge over present and future freehold and lease hold property. Fixed charge over, amoung other things, interest, future rights, licences, guarantees, rents, deposits, contracts, covenants relating to properties. All intellectual property. Full details given charge code 038319690010. |
Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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9. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
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The Inn On The Green Ltd |
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A company in which A J Taylor is a director and shareholder. |
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At the balance sheet date The Inn On The Green Ltd owes the company £12,042 (2015: |
£2,912). |
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Empower Consultants Ltd |
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A company in which M N J Fuller is a director. |
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At the balance sheet date the company was owed £15,000 (2015: £15,000) |
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Phantom Music Management Ltd |
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A company in which A J Taylor is a director and shareholder. |
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At the balance sheet date the company owed £22,500 (2015: £22,500). |
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Sphere Entertainment Ltd |
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A company in which A J Taylor is a director and shareholder. |
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At the balance sheet date Sphere Entertainment Ltd owed the company £76,570 (2015: |
£36,413). |
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10. | ULTIMATE CONTROLLING PARTY |
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A J Taylor, M N J Fuller and R Smallwood, shareholders in the parent company Concept |
Venues Ltd. |
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11. | FIRST YEAR ADOPTION |
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There are no transitional adjustments from FRSSE (effective January 2015) for the year |
ending 31 December 2015 to FRS 102 Section 1A for the year ending 31 December 2016. |
Sanctum On The Green Ltd (Registered number: 07115900) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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11. | FIRST YEAR ADOPTION - continued |
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Transitional relief |
On transition to FRS 102, the company has taken advantage of the following transitional |
relief: |
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• | to determine existence of leases on basis of existing facts and circumstances; |
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to treat date of transition to FRS 102 as date on which capitalisation of borrowing costs
commences; |
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not to apply the requirements of paragraphs 20.15A to 20.25A in respect of lease
incentives. |