Little Theatre (Gateshead) Limited (The) - Abbreviated accounts

THE LITTLE THEATRE (GATESHEAD) LIMITED - Company Information

Registered number

00464068

Little Theatre (Gateshead) Limited (The)

Abbreviated Accounts

31 March 2016

Little Theatre (Gateshead) Limited (The)
Registered number:		00464068
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		134,707			132,573

Current assets
Stocks		1,451			1,419
Debtors		3,143			4,254
Cash at bank and in hand		28,068			32,853
		32,662			38,526

Creditors: amounts falling due within one year		(2,273)			(2,807)

Net current assets			30,389			35,719

Net assets			165,096			168,292

Capital and reserves
Called up share capital	3		5,250			5,250
Profit and loss account			159,846			163,042

Shareholders' funds			165,096			168,292

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



D Walker
Director
Approved by the board on 20 June 2016

Little Theatre (Gateshead) Limited (The)
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated within the accounting policy notes.

	Fund accounting
	Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are funds which the donor has specified are to be solely used for particular areas of the charity's work.

	Expenditure
	Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

	Income and recognition policies
	Income derives from property rental income, bar and ice cream sales, and donations. Items of income are recognised and included in the accounts when all of the following criteria are met: - The charity has entitlement to the funds. - Any performance conditions attached to the items of income have been met are fully within the control of the charity. - There is sufficient certainty that receipt of the income is considered probable. - The amount can be measured reliably.

	Tangible assets
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			2.5% reducing balance basis

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Debtors
	Other debtors are recognised at the settlement amount due after any trade discount.

	Creditors
	Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.





2	Tangible fixed assets					£

	Cost
	At 1 April 2015					158,721
	Additions					5,588
	At 31 March 2016					164,309

	Depreciation
	At 1 April 2015					26,148
	Charge for the year					3,454
	At 31 March 2016					29,602

	Net book value
	At 31 March 2016					134,707
	At 31 March 2015					132,573


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		5,250		5,250		5,250