The Inn On The Green Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 02950398 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

The Inn On The Green Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Taylor

E Taylor

SECRETARY:

S H Pennington

REGISTERED OFFICE:

Bridle House

36 Bridle Lane

London

W1F 9BZ

REGISTERED NUMBER:

02950398 (England and Wales)

FIXED ASSETS

Tangible assets

3

1,023,650

1,030,012

CURRENT ASSETS

Debtors

4

356,054

421,608

Cash at bank and in hand

9,878

1,377

365,932

422,985

CREDITORS

Amounts falling due within one year

5

1,143,144

1,250,284

NET CURRENT LIABILITIES

(777,212

)

(827,299

)

TOTAL ASSETS LESS CURRENT LIABILITIES

246,438

202,713

PROVISIONS FOR LIABILITIES

7

20,225

18,141

NET ASSETS

226,213

184,572

CAPITAL AND RESERVES

Called up share capital

750

750

Retained earnings

225,463

183,822

SHAREHOLDERS' FUNDS

226,213

184,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 September 2017 and were signed on its behalf by:

A J Taylor - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is derived from ordinary activities and represents net sales of rent income,

excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

not provided

Improvements to property

5% on reducing balance

Plant and machinery

10% on cost

Fixtures and fittings

10% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

939,307

334,325

1,273,632

Disposals

-

(152,814

)

(152,814

)

At 31 December 2016

939,307

181,511

1,120,818

DEPRECIATION

At 1 January 2016

-

243,620

243,620

Charge for year

-

4,883

4,883

Eliminated on disposal

-

(151,335

)

(151,335

)

At 31 December 2016

-

97,168

97,168

NET BOOK VALUE

At 31 December 2016

939,307

84,343

1,023,650

At 31 December 2015

939,307

90,705

1,030,012

Included in cost of land and buildings is freehold land of £939,307 (2015: £939,307) which is

not depreciated.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

9,558

2,912

Amounts owed by group undertakings

94,062

163,654

Other debtors

252,434

255,042

356,054

421,608

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

-

9,560

Amounts owed to group undertakings

1,117,987

1,197,565

Taxation and social security

16,065

30,356

Other creditors

9,092

12,803

1,143,144

1,250,284

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

There is an overdraft facility of £100,000 (which was temporarily increased to £125,000

during the year ending 31 December 2015) for Sphere Entertainment Ltd to which the

following securities apply:

Date

Name

Amount

Description

22/03/99

HSBC Private Bank (UK) Ltd

All monies due or to become due from the company.

Debenture - Given by Inn On The Green Ltd including Fixed Equitable Charge over all present and future freehold and leasehold property; Fixed First Charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future.

16/01/02

HSBC Private Bank (UK) Ltd

All monies due or to become due from the company.

Debenture - Given by Sphere Entertainment Ltd including Fixed Equitable Charge over all present and future freehold and leasehold property; Fixed First Charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future.

The following also apply:

03/06/99

A J Taylor

All monies due or to become due from the company.

Debenture - property with title number RK287776, by way of floating charge all the undertaking, property and assets.

03/06/99

Sphere Entertai nment Limited

All monies due or to become due from the company.

Debenture - property with title number RK287776, by way of floating charge all the undertaking, property and assets.

7.	PROVISIONS FOR LIABILITIES

31.12.16

31.12.15

£

£

Deferred tax

Accelerated capital allowances

20,225

22,627

Other timing differences

-

(4,486

)

20,225

18,141

Deferred

tax

£

Balance at 1 January 2016

18,141

Provided during year

2,084

Balance at 31 December 2016

20,225

8.	RELATED PARTY DISCLOSURES

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.

Concept Venues Ltd

A company in which A J Taylor is a director.

At the balance sheet date Concept Venues Ltd owed the company £250,000 (2015:

£250,000) for loan notes held.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are A J Taylor and E Taylor, shareholders and directors of

the parent company Sphere Entertainment Ltd.

10.	FIRST YEAR ADOPTION

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.

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional

relief:

•

to determine existence of leases on basis of existing facts and circumstances.