IRIS Accounts Production v18.2.1.62 03831880 Board of Directors 1.1.17 31.12.17 31.12.17 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 03831880 2016-12-31 03831880 2017-12-31 03831880 2017-01-01 2017-12-31 03831880 2015-12-31 03831880 2016-01-01 2016-12-31 03831880 2016-12-31 03831880 ns15:EnglandWales 2017-01-01 2017-12-31 03831880 ns14:PoundSterling 2017-01-01 2017-12-31 03831880 ns10:Director1 2017-01-01 2017-12-31 03831880 ns10:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 03831880 ns10:SmallEntities 2017-01-01 2017-12-31 03831880 ns10:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 03831880 ns10:SmallCompaniesRegimeForDirectorsReport 2017-01-01 2017-12-31 03831880 ns10:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 03831880 ns10:FullAccounts 2017-01-01 2017-12-31 03831880 1 2017-01-01 2017-12-31 03831880 ns10:Director2 2017-01-01 2017-12-31 03831880 ns10:Director3 2017-01-01 2017-12-31 03831880 ns10:CompanySecretary1 2017-01-01 2017-12-31 03831880 ns10:RegisteredOffice 2017-01-01 2017-12-31 03831880 ns5:CurrentFinancialInstruments 2017-12-31 03831880 ns5:CurrentFinancialInstruments 2016-12-31 03831880 ns5:Non-currentFinancialInstruments 2017-12-31 03831880 ns5:Non-currentFinancialInstruments 2016-12-31 03831880 ns5:ShareCapital 2017-12-31 03831880 ns5:ShareCapital 2016-12-31 03831880 ns5:SharePremium 2017-12-31 03831880 ns5:SharePremium 2016-12-31 03831880 ns5:RetainedEarningsAccumulatedLosses 2017-12-31 03831880 ns5:RetainedEarningsAccumulatedLosses 2016-12-31 03831880 ns5:IntangibleAssetsOtherThanGoodwill 2017-01-01 2017-12-31 03831880 ns5:IntangibleAssetsOtherThanGoodwill 2016-12-31 03831880 ns5:IntangibleAssetsOtherThanGoodwill 2017-12-31 03831880 ns5:IntangibleAssetsOtherThanGoodwill 2016-12-31 03831880 ns5:LandBuildings 2016-12-31 03831880 ns5:PlantMachinery 2016-12-31 03831880 ns5:LandBuildings 2017-01-01 2017-12-31 03831880 ns5:PlantMachinery 2017-01-01 2017-12-31 03831880 ns5:LandBuildings 2017-12-31 03831880 ns5:PlantMachinery 2017-12-31 03831880 ns5:LandBuildings 2016-12-31 03831880 ns5:PlantMachinery 2016-12-31 03831880 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2016-12-31 03831880 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2017-12-31 03831880 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2017-01-01 2017-12-31 03831880 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2016-12-31 03831880 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2017-12-31 03831880 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2016-12-31


REGISTERED NUMBER: 03831880 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2017

for

The Sanctum London Limited

The Sanctum London Limited (Registered number: 03831880)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Sanctum London Limited

Company Information
for the Year Ended 31 December 2017







DIRECTORS: M N J Fuller
A J Taylor
G S Molyneux





SECRETARY: A Leyshon





REGISTERED OFFICE: Bridle House
36 Bridle Lane
London
W1F 9BZ





REGISTERED NUMBER: 03831880 (England and Wales)






The Sanctum London Limited (Registered number: 03831880)

Balance Sheet
31 December 2017

31.12.17 31.12.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 749,534 780,868
749,534 780,868

CURRENT ASSETS
Stocks 6 85,824 68,911
Debtors 7 1,396,963 1,118,460
Cash at bank and in hand 1,508 8,550
1,484,295 1,195,921
CREDITORS
Amounts falling due within one year 8 5,191,856 4,907,795
NET CURRENT LIABILITIES (3,707,561 ) (3,711,874 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,958,027

)

(2,931,006

)

CREDITORS
Amounts falling due after more than
one year

9

68,056

-
NET LIABILITIES (3,026,083 ) (2,931,006 )

CAPITAL AND RESERVES
Called up share capital 1,250 1,250
Share premium 499,750 499,750
Retained earnings (3,527,083 ) (3,432,006 )
SHAREHOLDERS' FUNDS (3,026,083 ) (2,931,006 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 Sanctum London Limited (Registered number: 03831880)

Balance Sheet - continued
31 December 2017


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 26 September 2018 and
were signed on its behalf by:





A J Taylor - Director


The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. STATUTORY INFORMATION

The Sanctum London 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, services and hotel accommodation,
excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment
losses.

Patents and licences have been fully amortised evenly over their estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fine Art is carried at the revaluation model, it is carried at fair value at the date of valuation.
The Fine Art is not depreciated.

Depreciation on the other assets (which are carried at historic cost less depreciation) is
calculated to write of the cost of the asset over its estimated useful live as follows:


Short leasehold Over the term of the lease - 25 years
Plant & machinery 10% per annum
Fixtures & fittings 10% per annum


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


The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued
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
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

Going concern
The liabilities of the company exceed the assets by £3,026,083 (2016: £2,931,006). The
company depends on the continuing financial support of its parent, associated companies
and a director of the parent company who has confirmed their financial support of the
company and their ability to do so for the foreseeable. For this reason the financial
statements have been prepared on a gong concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2016 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2017
and 31 December 2017 4,614
AMORTISATION
At 1 January 2017
and 31 December 2017 4,614
NET BOOK VALUE
At 31 December 2017 -
At 31 December 2016 -

The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2017 317,754 1,080,972 1,398,726
Additions - 51,503 51,503
Reclassification/transfer - 9,892 9,892
At 31 December 2017 317,754 1,142,367 1,460,121
DEPRECIATION
At 1 January 2017 83,133 534,725 617,858
Charge for year 12,710 70,127 82,837
Reclassification/transfer - 9,892 9,892
At 31 December 2017 95,843 614,744 710,587
NET BOOK VALUE
At 31 December 2017 221,911 527,623 749,534
At 31 December 2016 234,621 546,247 780,868

Cost or valuation at 31 December 2017 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2016 - 30,000 30,000
Cost 317,754 1,102,475 1,420,229
317,754 1,132,475 1,450,229

If the fine art work had not been revalued it would have been included at the following
historical cost:

31.12.17 31.12.16
£    £   
Cost 65,000 65,000

The fine art work was valued on fair value basis on 14 November 2016 by Clare Auctions .

The fine artwork was not revalued at the year ending 31 December 2017 as the directors did
not consider the carrying value of the asset to differ materially from its fair value at the
reporting date.

The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2017 213,131
Reclassification/transfer 145,000
At 31 December 2017 358,131
DEPRECIATION
At 1 January 2017 119,621
Charge for year 21,313
At 31 December 2017 140,934
NET BOOK VALUE
At 31 December 2017 217,197
At 31 December 2016 93,510

6. STOCKS
31.12.17 31.12.16
£    £   
Stocks 85,824 68,911

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Trade debtors 499,928 389,547
Amounts owed by group undertakings 259,727 375,729
Other debtors 637,308 353,184
1,396,963 1,118,460

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
£    £   
Finance leases 83,335 80,909
Trade creditors 1,919,799 2,107,051
Amounts owed to group undertakings 890,886 587,157
Taxation and social security 267,946 327,882
Other creditors 2,029,890 1,804,796
5,191,856 4,907,795

The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.17 31.12.16
£    £   
Finance leases 68,056 -

10. SECURED DEBTS

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

Alfandari Private Equites Ltd £30,324 (2016: £76,299).

Date Name Amount Description

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, among 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 - The Sanctum London 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
038318800002
18/08/2011 Soho
Estates
Limited
All monies due or to
become due from the
company.
Fixed and floating charge over the
undertaking and all property and
assets including goodwill, book debts,
uncalled capital, buildings, fixtures,
fixed plant & machinery,

11. RELATED PARTY DISCLOSURES

Concept Venues Ltd

The parent company.


The Sanctum London Ltd received funding of £661,414 from Concept Venues Ltd in the year
(2016: £425,583). At the balance sheet date The Sanctum London Ltd owes the company
£890,886 (2016: £587,157). The amount is classified as a current creditor and is repayable
on demand, no interest is charged.

The Sanctum London Limited (Registered number: 03831880)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

11. RELATED PARTY DISCLOSURES - continued

Sanctum On The Green Ltd

A fellow subsidiary.


During the year the company received net funding from The Sanctum London Ltd of £8,124
(2016: £48,886). At the balance sheet date the company owes The Sanctum London Ltd
£259,727 (2016: £251,603). The amount is classified as a current debtor and is repayable
on demand, no interest is charged.

Geales Restaurant Ltd

A fellow subsidiary.


During the year the The Sanctum London Ltd received net funding from the company of
£124,126 (2016: received net funding from The Sanctum London Ltd £197,767). At the
balance sheet date the company owes The Sanctum London Ltd £NIL (2016: £124,126).
The amount is classified as a current debtor and is repayable on demand, no interest is
charged.

Sphere Entertainment Ltd

A company in which A J Taylor is a director and shareholder.


At the balance sheet date the company owes Sphere Entertainment Ltd £66,330 (2016:
£NIL). The amount is classified as a current creditor and is repayable on demand, no
interest is charged.

Joan Lawson

A close relation of M N J Fuller, a director


During the year The Sanctum London Limited repaid £11,302 of the loam from Mrs Lawson.
At the balance sheet date the company owes Mrs Lawson of £98,698 (2016: £110,000).
The amount is classified as a current creditor and is repayable on demand, no interest is
charged.

12. ULTIMATE CONTROLLING PARTY

A J Taylor, M N J Fuller and R Smallwood, shareholders in the parent company Concept
Venues Ltd.