IRIS Accounts Production v20.1.5.71 03831969 Board of Directors 1.1.19 31.12.19 31.12.19 true false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 03831969 2018-12-31 03831969 2019-12-31 03831969 2019-01-01 2019-12-31 03831969 2017-12-31 03831969 2018-01-01 2018-12-31 03831969 2018-12-31 03831969 ns16:EnglandWales 2019-01-01 2019-12-31 03831969 ns15:PoundSterling 2019-01-01 2019-12-31 03831969 ns11:Director1 2019-01-01 2019-12-31 03831969 ns11:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 03831969 ns11:SmallEntities 2019-01-01 2019-12-31 03831969 ns11:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 03831969 ns11:SmallCompaniesRegimeForDirectorsReport 2019-01-01 2019-12-31 03831969 ns11:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 03831969 ns11:FullAccounts 2019-01-01 2019-12-31 03831969 ns11:Director2 2019-01-01 2019-12-31 03831969 ns11:Director3 2019-01-01 2019-12-31 03831969 ns11:Director4 2019-01-01 2019-12-31 03831969 ns11:RegisteredOffice 2019-01-01 2019-12-31 03831969 ns6:CurrentFinancialInstruments 2019-12-31 03831969 ns6:CurrentFinancialInstruments 2018-12-31 03831969 ns6:Non-currentFinancialInstruments 2019-12-31 03831969 ns6:Non-currentFinancialInstruments 2018-12-31 03831969 ns6:ShareCapital 2019-12-31 03831969 ns6:ShareCapital 2018-12-31 03831969 ns6:SharePremium 2019-12-31 03831969 ns6:SharePremium 2018-12-31 03831969 ns6:RetainedEarningsAccumulatedLosses 2019-12-31 03831969 ns6:RetainedEarningsAccumulatedLosses 2018-12-31 03831969 ns6:PlantMachinery 2018-12-31 03831969 ns6:PlantMachinery 2019-01-01 2019-12-31 03831969 ns6:PlantMachinery 2019-12-31 03831969 ns6:PlantMachinery 2018-12-31 03831969 ns6:CostValuation 2018-12-31 03831969 ns6:AdditionsToInvestments 2019-12-31 03831969 ns6:CostValuation 2019-12-31 03831969 ns6:CurrentFinancialInstruments ns6:WithinOneYear 2019-12-31 03831969 ns6:CurrentFinancialInstruments ns6:WithinOneYear 2018-12-31 03831969 ns6:Secured 2019-12-31 03831969 ns6:Secured 2018-12-31 03831969 4 ns11:Director4 2018-12-31 03831969 4 ns11:Director4 2017-12-31 03831969 4 ns11:Director4 2019-01-01 2019-12-31 03831969 4 ns11:Director4 2018-01-01 2018-12-31 03831969 4 ns11:Director4 2019-12-31 03831969 4 ns11:Director4 2018-12-31 03831969 ns11:Director1 1 2018-12-31 03831969 ns11:Director1 1 2017-12-31 03831969 ns11:Director1 1 2019-01-01 2019-12-31 03831969 ns11:Director1 1 2018-01-01 2018-12-31 03831969 ns11:Director1 1 2019-12-31 03831969 ns11:Director1 1 2018-12-31
REGISTERED NUMBER: 03831969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2019

for

Concept Venues Limited

Concept Venues Limited (Registered number: 03831969)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Concept Venues Limited

Company Information
for the Year Ended 31 December 2019







DIRECTORS: M N J Fuller
S Naker
R C Smallwood
A J Taylor





REGISTERED OFFICE: 20 Warwick Street
London
W1B 5NF





REGISTERED NUMBER: 03831969 (England and Wales)






Concept Venues Limited (Registered number: 03831969)

Balance Sheet
31 December 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 10,310 14,598
Investments 4 3,156,219 1,406,219
3,166,529 1,420,817

CURRENT ASSETS
Debtors 5 9,714,323 10,326,221
Cash at bank 21 3,855
9,714,344 10,330,076
CREDITORS
Amounts falling due within one year 6 18,254,053 17,013,563
NET CURRENT LIABILITIES (8,539,709 ) (6,683,487 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,373,180

)

(5,262,670

)

CREDITORS
Amounts falling due after more than
one year

7

521,910

628,824
NET LIABILITIES (5,895,090 ) (5,891,494 )

CAPITAL AND RESERVES
Called up share capital 787 787
Share premium 306,548 306,548
Retained earnings (6,202,425 ) (6,198,829 )
SHAREHOLDERS' FUNDS (5,895,090 ) (5,891,494 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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.

Concept Venues Limited (Registered number: 03831969)

Balance Sheet - continued
31 December 2019


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
11 September 2020 and were signed on its behalf by:





M N J Fuller - Director


Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Concept Venues 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

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

Office Equipment 10% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

2. ACCOUNTING POLICIES - continued

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.

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.

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.

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences
a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are
equivalent to a similar debt instrument, those financial instruments are classed as financial
liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and
gains or losses relating to financial liabilities are included in the profit and loss account.
Finance costs are calculated so as to produce a constant rate of return on the outstanding
liability.

Where the contractual terms of share capital do not have any terms meeting the definition of
a financial liability then this is classed as an equity instrument.

Going concern
The company's liabilities exceed its assets by £5,895,090 (2018: £5,981,494). The company
depends on the continuing financial support of 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.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2019
and 31 December 2019 53,555
DEPRECIATION
At 1 January 2019 38,957
Charge for year 4,288
At 31 December 2019 43,245
NET BOOK VALUE
At 31 December 2019 10,310
At 31 December 2018 14,598

4. FIXED ASSET INVESTMENTS
Shares in
group Shares in
undertakings associate Totals
£    £    £   
COST
At 1 January 2019 38,650 1,367,569 1,406,219
Additions - 1,750,000 1,750,000
At 31 December 2019 38,650 3,117,569 3,156,219
NET BOOK VALUE
At 31 December 2019 38,650 3,117,569 3,156,219
At 31 December 2018 38,650 1,367,569 1,406,219

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 188,757 71,202
Amounts owed by group undertakings 2,248,548 4,056,763
Other debtors 7,277,018 6,198,256
9,714,323 10,326,221

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Bank loans and overdrafts 425,063 554,061
Trade creditors 48,122 300,342
Amounts owed to group undertakings 908,186 750,877
Taxation and social security (275 ) 2,112
Other creditors 16,872,957 15,406,171
18,254,053 17,013,563

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.19 31.12.18
£    £   
Other creditors 521,910 628,824

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 94,254 201,168

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.19 31.12.18
£    £   
Bank overdrafts 63 61
Bank loans 425,000 554,000
425,063 554,061

The following debentures existed at the year end:
Date Name Amount Description

14/07/08 HSBC Private Bank (UK)
Limited
All monies due
or to become
due to the
company.
Fixed & floating charge
over the undertaking and all
property and assets present
and future.

04/11/09 A.J.Taylor (As Security
Trustee)
All monies due
or to become
due the
company.
Fixed & floating charge over
the undertaking and all
property and assets present
and future.

17/10/11 A.J Taylor All monies due
or to become
due to the
company.
All properties, all present
and future rights licences,
guarantees, rents, deposits,
contracts, covenants and
warranties.




04/04/13


Phantom Music
ManagementLtd
All monies due
or to become
due to the
company.
Fixed & floating charge over
the undertaking and all
property and assets present
and future.




04/04/13



Sphere Entertainment Ltd
All monies due
or to become
due to the
company
Fixed & floating charge over
the undertaking and all
property and assets present
and future.


The following security is given by the company in respect of Sanctum On The Green Ltd:

Alfandari Private Equites Ltd £NIL (2018: £4,988). (This finance lease was satisfied on the 6
April 2020):

Date Name Amount Description


Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019
06/10/2016 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, among other things, interest,
future rights, licences, guarantees,
rents, deposits, contracts, covenants
relating to properties. All intellectual
property. Full details given charge
code 038319690010.


The following security is given by the company in respect of The Sanctum London Ltd:

Alif 1Ltd (Access Commercial Finance) £63,524 (2018: £NIL):

Date Name Amount Description







7/02/2019






Aif 1 Ltd




All monies due or to
become due from the
company.
Charge - Contains fixed charges,
contains floating charge, floating
charge covers all the property or
undertaking of the company.
Contains Negative pledge. Full
details given charge code
038318800004.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended
31 December 2019 and 31 December 2018:

31.12.19 31.12.18
£    £   
A J Taylor
Balance outstanding at start of year (856,994 ) (822,878 )
Amounts advanced - (34,116 )
Amounts repaid 844,906 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,088 ) (856,994 )

M N J Fuller
Balance outstanding at start of year (115,137 ) -
Amounts advanced - (115,137 )
Amounts repaid 5,732 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (109,405 ) (115,137 )

The amounts are classified as current creditors and are repayable on demand, interest of
5% is charged on the amount owing to the director A J Taylor and NIL on the balance owing
to M N J Fuller.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

10. 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.

A J Taylor
Companies in which A J Taylor is also a director.


During the year the the following transactions occurred between the related parties and the
company:

Iron Maiden Holdings Ltd:
At the balance sheet date the company owes £5,211 to Iron Maiden Holdings Ltd (2018:
£5,211). The amount is classified a current creditor and is repayable on demand, no interest
is charged.

Phantom Music Management Ltd:
During the year Phantom Music Management Ltd provided net funding to Concept Venues
Ltd totalling £NIL (2018: £150,000). At the balance sheet date the company owes
£4,180,884 to Phantom Music Management Ltd (2018: £4,180,884). The company also
owes £1,220,000 (2018: £1,220,000) in loan notes to Phantom Music Management Ltd. The
amounts are classified as current creditors and are repayable on demand, interest of 5% is
charged.

Sphere Entertainment Ltd:
During the year Sphere Entertainment Ltd provided net funding to Concept Venues Ltd
totalling £1,373,404 (2018: £490,690). At the balance sheet date the company owed
£4,184,994 (2018: £2,811,590) to Sphere Entertainment Ltd. The amounts is classified as a
current debtor and are repayable on demand, interest of 5% is charged.

The Inn On The Green Ltd:
During they year The Inn On The Green Ltd provided net funding to Concept Venues Ltd
totalling £80,000 (2018: NIL). At the year end Concept Venues Ltd owed the company
£80,000 (2018: £NIl). The company also owe £250,000 (2018: £250,000) in loan notes to
The Inn On The Green Ltd. The amount is classified as a current creditor and is repayable
on demand, interest of 5% is charged.

M N J Fuller

During the year the company repaid M N J Fuller £5,732. At the balance sheet date the
company owed M N J Fuller £109,405 (2018: £115,137). The amount is classified as a
current creditor and is repayable on demand, ino interest is charged on the amount owing to
the director.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

10. RELATED PARTY DISCLOSURES - continued

Sanctuary Management Productions Ltd


A company in which A J Taylor and R C Smallwood have significant control.

As at the balance sheet date the company owes Sanctuary Management Productions Ltd
£200,000 (2018: £200,000). The amount is classified as a current debtor and is repayable
on demand, interest of 5% is charged on the amount.

The Sanctum London Ltd

A subsidiary of the company.


The Sanctum London Ltd gave funding of £1,753,357 to Concept Venues Ltd in the year
(2018: The Sanctum London Ltd received funding of £1,160,581 from Concept Venues Ltd).
At the balance sheet date The Sanctum London Ltd is owed £235,705 by the company
(2018: The Sanctum London Ltd owes the company £1,737,652). The amount is classified
as a current creditor / debtor and is repayable on demand, no interest is charged.

A Cooke

A Shareholder in the company.


At the balance sheet date the company owed £650,000 (2018: £650,000) in loan notes. The
amount is classified as a current creditor and is repayable on demand, interest is charged at
5%.

R C Smallwood
Companies in which R C Smallwood is also a director and shareholder.


R & K Enterprises Limited

At the balance sheet date the company owes R&K Enterprises £376,808 (2018: £376,808).
The amount is classified as a current creditor and is repayable on demand, interest of 5% is
charged.

A J Taylor
Director.


During the year A J Taylor advanced the company £NIL (2018: £45,410) and the company
repaid A J Taylor £844,906 (2018: £NIL). At the balance sheet date the company owed A J
Taylor £12,088 (2018: £856,994). The amount is classified as a current creditor and is
repayable on demand, interest of 5% is charged on the amount owing to the director.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

10. RELATED PARTY DISCLOSURES - continued

Geales Restaurant Ltd

A subsidiary of the company.


During the year the company made net funding to Concept Venues Ltd of £NIL (2018:
£13,404) and Concept Venues Ltd repaid the company £78,396. At the balance sheet date
Concept Venues Ltd owes the company £672,481 (2018: £750,877). The amount is
classified as a current creditor and is repayable on demand, no interest is charged.

Sanctum On The Green Ltd

A subsidiary of the company.


During the year the company repaid £70,563 to Concept Venues Ltd (2018: £38,020). At the
balance sheet date the company owes Concept Venues Ltd £2,248,548 (2018: £2,319,111).
The amount is classified as a current debtor and is repayable on demand, no interest is
charged.

11. ULTIMATE CONTROLLING PARTY

A J Taylor, M N J Fuller and R C Smallwood, directors and shareholders of the company.