Kelmarsh (Events) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05023035 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

KELMARSH (EVENTS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr RG Flenley

Mr J D Lancaster

SECRETARY:

Mrs L A Denton

REGISTERED OFFICE:

Kelmarsh Hall

Kelmarsh

Northampton

NN6 9LY

REGISTERED NUMBER:

05023035 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr P Bott FCA

AUDITORS:

Mark J Rees LLP, Statutory Auditor

Chartered Accountants

Granville Hall

Granville Road

Leicester

LE1 7RU

BANKERS:

HSBC

15 High Street

Market Harborough

Leicestershire

LE16 7NN

CURRENT ASSETS

Stocks

4,296

2,196

Debtors

4

29,274

22,893

Cash at bank and in hand

106,740

50,543

140,310

75,632

CREDITORS

Amounts falling due within one year

5

84,544

67,782

NET CURRENT ASSETS

55,766

7,850

TOTAL ASSETS LESS CURRENT
LIABILITIES

55,766

7,850

CREDITORS

Amounts falling due after more than one
year

6

47,916

-

NET ASSETS

7,850

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

7

6,850

SHAREHOLDERS' FUNDS

7,850

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 8 December 2021 and were signed on its behalf by:

Mr RG Flenley - Director

1.	STATUTORY INFORMATION

Kelmarsh (Events) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

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.

Turnover

Turnover is recognised at the date events are held. Income and deposits received for events held after the year end are included as deferred income, and released to the profit and loss account once the events have taken place.

Grant income is credited in the period to which it relates. Grant income is included as incoming resources from charitable activities when these amount to a contract for services, but as voluntary income where they have been given with greater freedom of use.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern

The COVID-19 pandemic has had a significant impact on our business operations. With restrictions on weddings and other events in place across the country a significant fall in sales has continued to occur during the year. We are maintaining communication with our customers and pleasingly the majority have indicated that they plan to still hold the booked events once restrictions are eased. Wedding bookings, once the restrictions have eased, are expected to be substantial. In accordance with the government guidance, we re-commenced our events in Summer 2021.

To mitigate our costs we have taken advantage of the Government's Job Retention scheme and other Government support available, including a Bounce Back Loan. Additional support was received through grants received from Heritage Emergency Fund and The Cultural Recovery Fund. The company also has the additional support of its parent entity, The Kelmarsh Trust, and on this basis the directors deem it to be appropriate to use the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

9,940

-

Amounts owed by group undertakings

16,124

18,829

Other debtors

3,210

4,064

29,274

22,893

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

214

1,220

Other creditors

84,330

66,562

84,544

67,782

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Other creditors

47,916

-

7.

RESERVES

Retained

earnings

£

At 1 April 2020

6,850

Profit for the year

2,252

Dividends

(2,252

)

At 31 March 2021

6,850

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP, Statutory Auditor

9.	ULTIMATE PARENT COMPANY

In the directors' opinion, the company's ultimate parent company is The Kelmarsh Trust, whose registered office is Kelmarsh Hall, Kelmarsh, Northampton, Northamptonshire, NN6 9LY.

The group accounts can be obtained from the Charity Commission website.

Kelmarsh (Events) Limited - Accounts to registrar (filleted) - small 18.2

Kelmarsh (Events) Limited - Accounts to registrar (filleted) - small 18.2